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How I am beating the crap out of Countrywide/MERS by Hangin in the Highlands Share this on Twitter - How I am beating the crap out of Countrywide/MERS ');//Tie customized button to ShareThis button functionality.var el ement = document.getElementById("share");object.attachButton(element); Wed Sep 23, 2009 at 08:15:36 AM PDT It is excellent news concerning the KS Supreme Court not recognizing the Mortgage Electronic Registration Servi ces (MERS)as a legal entity with standing to foreclose in Kansas. No doubt this is going to have a monumental effect in housing and foreclosure in Kansas. Unless this case makes it to the SCOTUS however where is the re lief for the millions of homeowners that are illegally being foreclosed upon as we speak? Here is my story of how I have taken a sock full of quarters to the head of Countrywide and its co-conspirator MERS. Hopefully t his will help others that are having their homes taken from them by fraud, greed and deception. Hangin in the Highlands's diary :: :: As background, let me first state that I was a successful stockbroker for Merrill Ly nch, Pierce, Fenner and Smith in the 1980's. I left Merrill several years after the crash of 1987 because of investment products that I believed were not good investments that Merrill was pushing at the time. Dabbling in real estate at the time I became an (urban)real estate developer doing smaller infill projects in fringe a reas of my hometown, eventually making my way to downtown whereby last year I was the top homebuilder in my d owntown. Before anyone starts to read "luxury condos", my market is moderately priced loft condos and rentals for the urban dweller. I am solvent today, struggling like everyone else however, and have watched mentors a round me file bankruptcy. I have a financial background and considerable knowledge of real estate and real es tate financing. Here is my story. In 2001 I bought a single family house with the intent to renovate and sell . I financed the house with a two year construction loan from a local bank. After renovating the house I deci ded that I wanted to keep the house to live in. Since my current loan's term was coming up I sought permanent financing. A mortgage broker friend suggested Countrywide due to low interest rates offered at the time. In Dec., 2003 I refinanced with Countrywide. The problems started immediately. After 4 months I was informed by my insurance agent that the house was uninsured. After checking I discovered that Countrywide had failed to p ay the insurance premium that was forgotten in the closing escrow account. I immediately insured the house ho wever paid a fortune given that the house was uninsured. Shortly thereafter, Countrywide started diverting a small amount of my monthly mortgage payment into an "escrow account". They also began reporting me as late to the credit bureaus, charging a late fee, and of course, the multiple daily phone calls from collections. I s pent months, and I truly mean tens of hours on the phone or on hold with Countrywide trying to straighten thi s out. Countrywide claimed that the escrow was to pay the taxes and insurance. I explained to them that this was a refinance and that I paid my taxes and insurance once a year in lump sum. It was obvious to me that the dozens of people that I spoke with had absolutely no intention of correcting the problem, let alone, providi ng any sort of service. I began telling others in my field that Countrywide was the Enron of the mortgage bus iness. What happens over the next several years and my subsequent discovery of their fraud bore this out in w ays I could have never imagined. After putting up with this crap for over a year, with my credit in shreds du e to their inaccurate reporting, Countrywide claimed that the amount owed past due equaled a mortgage payment and filed suit to foreclose on my house. My mortgage buddy contacted Countrywide on my behalf and told someo ne that actually cared "you have messed with the wrong person" as I had already contacted an attorney before they filed suit. Within 3 days Countrywide dismissed the lawsuit! The problem was that my credit was now shot . I contacted Countrywide in attempt to get my account straightened out and my credit repaired. Nothing happe ned for months. Then they diverted an entire mortgage payment to buy insurance on the house even though the h ouse was insured! I filed suit for 6 counts of fraud and stopped paying the mortgage (why pay if it was just going down a big black hole with no accounting?). Countrywide filed suit again to foreclose. The war was on.. .Countrywide's lawsuit was filed in the name of Countrywide as loan servicer, and MERS as mortgagee. I though t it strange that some unknown entity (MERS) was in a fight with me. I started doing research. This is what I found (explained in layman's terms). Countrywide had sold the note to a trust that had been set up by the gu rus on Wall St. There were 16,000 notes in the trust owned by god knows how many investors. They of course co uld do this because for the first time in the history of world finance, these "gurus" had separated the mortg age (collateral) from the note. MERS holds my mortgage which is recorded per law at my county court house. Th ey don't and will never be my, or your, note holder. This separation of the note and mortgage gives Wall St. the ability to "transfer/sell" my note at a click of a mouse thus circumventing the age old process of record ing the transfer in my county court house. This slight of the hand is the fraud that created the entire secon dary mortgage market and eventually the trouble we are in today. Countrywide is my loan servicer...which mean s they are nothing but a bookkeeper and collection agency. The holder of my note was yet to be determined. ht tp://www.dailykos.com/storyonly/2009/9/23/785445/-How-I-am-beating-the-crap-out-of-Countrywide-MERS?ref=patri ck.net