County joins in suit against mortgate registration firm
by Franklin Clark, Reporter -- fclark@cadizrecord.com
Jul 11, 2012 | 8 8 recommendations | email to a friend | print
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The Trigg County Sheriff's Office recently bought a boat from the Marshall County Sheriff's Office.</i>
submitted

The Trigg County Sheriff's Office recently bought a boat from the Marshall County Sheriff's Office.

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Trigg County will join at least 14 other counties in a class-action lawsuit against Delaware-based Mortgage Electronic Registration System (MERS) Corporation.

At their meeting last Monday evening, the Trigg County Fiscal Court voted unanimously to join the lawsuit, which Trigg County Attorney Randy Braboy says involves all 120 counties in Kentucky, after a motion by Magistrate Larry Lawrence and a second by Magistrate Jon Goodwin.

After a question by Magistrate Donie Tyler, Braboy said he didn’t know how much money the county could get out of the lawsuit, but there is no cost to the county if they do join the class-action suit, and he added that while they aren’t required to join, if they didn’t and wanted to file suit individually later, the costs would probably outweigh any potential gains.

“The lawsuit asserts that these 14 counties, and in fact all 120 counties in Kentucky, lost fees for recording, and this lawsuit seeks to recover those fees,” Braboy said. He went on to say they are “seeking monetary damages for mortgages that were traded among different mortgage companies over the last several years, particularly leading to some of the financial meltdown we had on ’08.”

For the rest of this story, see this week's issue of The Cadiz Record or subscribe to our e-Edition by calling 270-522-6605.
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