Mizner Grande Law Firm Continues to Protect Florida Homeowners

BOCA RATON, Fla. - May 7, 2014 - PRLog -- BOCA RATON, Fla. – Mizner Grande Law Firm is a litigation expert that protects Florida homeowners facing pre-foreclosure and foreclosure by creating protection from violations committed by loan services within financial institutions

The first step to this is providing the public with information on how banks can take advantage of homeowners. This includes the Mortgage Electronic Registration System, or MERS for short. A privately held company, the MERS Corporation was created by financial institutions in order to save money for lenders on recording fees charged by counties in order for land records to be made public. As a result, counties have lost money collected from the fees and have taken legal action against MERS.

As explained by Mizner Grand Law Firm, MERS was created to save money for lenders when putting foreclosures on record and the fees associated with recording notes of Assignments of Beneficiaries. Actually, MERS is a means for lenders and financial institutions to circumvent laws and regulations pertaining to mortgage loans. A different problem that has occurred is how MERS and financial institutions have the ability to electronically transfer the assignment of loans without the homeowner receiving notification. More than 60 percent of mortgage loans in the United States are transferred by MERS and the homeowner is not given a report.

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The presence of MERS has resulted in many reports of unfair and deceptive acts and practices. This can be a result of the fact that MERS presents a division between the function of the servicer and the beneficiary as well as the respective identities. This was done intentionally to be in favor of the lender over the borrower. Shockingly, this can lead to documents and county records being fraudulent.

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It is felt by Mizner Grand Law Firm that providing information to consumers ensures the chance to make more educated decisions in regards to mortgages. Any victims of MERS or other such unfair practices conducted by financial institutions should be reported promptly for legal consultation.

Mizner Grande Law Firm knows that no homeowner deserves to be the target of deception conducted by entities who are supposed to follow the law. For more information on Mizner Grande Law Firm and its legal offerings, visit http://miznergrandelaw.com.