February 27, 2013
Michigan Supreme Court Stayed Trial Court Proceedings in Order for the Court in Residential Funding Co. v. Saurman to Decide Whether MERS may commence a Foreclosure-by-Advertisement as Mortgagee of Record
In PB Reit, Inc. v. Debabneh, 801 N.W.2d 380 (Mich. 2011), the Michigan Supreme Court stayed trial court proceedings including attempts to enforce the order of eviction.
Concurring Judge Markman stated that the Court of Appeals holding in Residential Funding Co., LLC v. Saurman, 292 Mich. App. 321, 807 N.W.2d 412 (2011)—that MERS could not foreclose on homeowners property as mortgagee of record—could create “chaos in the housing market.” The court concluded that they would wait for the appeal of Residential Funding Co. to be decided before determining the outcome of this case.
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