Web Of Debt - Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles—and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof. Read more.
The American Federation of Teachers (AFT) upheld former middle school teacher’s Diamonté Brown’s stunning victory to lead Baltimore Teachers Union (BTU) today. Back in May, Brown upset the Progressive Caucus slate headed by incumbent Marietta English who was seeking her ninth term only to...read more.