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HELOC first lien MERS Identification Number

Dr Crandall

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I was behind on my payments with Penfed on a loan I took out in 2008 and they refinanced my HELOC by incorporating the


closing fees and late interest into a new HELOC in May of 2010, which since it was the only loan on my property is in a first lien position. 


Even though they did it as a HELOC, they closed the line of credit.


My balance is $85,000.00 which is the original amount refinanced.  The property has lost value and is worth about $52,000.00. 


Since LTV is upside down I want to approach Penfed from a position of leverage and rework the loan with a lower loan amount. 


I am current on my payments for this HELOC so it's not like I have to hurry and do something to prevent foreclosure.  I looked at


the promissory note and they mention MERS once in there but there is no 18 digit MERS identification number and I can't find 


where this note was securitized when I entered my SS # and address on Freddie Mac and Fannie Mae websites while searching


for my note. 


Does anybody know if lenders securitize HELOC's, and especially HELOC's that are in a 1st Lien position?  I don't know if Penfed


services their own loans as a credit union but if I can find out Penfed had MERS involved with this, I should be able to uncover


some fraud which would give me the leverage I need to negotiate with them on lowering the balance owed.

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In the first paragraph of the mortgage they talk about MERS but the box preceding it is not checked so it may not pertain

to my situation, but it is there.  It states that PENFED is the lender, not MERS, above the first paragraph.  Please read and

give me your opinions please.

I'm thinking the box has to be checked. 

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