Mortgage Electronic Recording System, Inc (MERS) & Chain of Title

[Account Closed]

Has any one had any issues (or ever heard of anyone who has) with chain of title when buying a property thats been entered in to MERS.  Im looking at a duplex now and this system appears in the mortgage of the current owner which I pulled off of public record.  I invite anyone who's not familiar with this system to listen to the Joe Fairless podcast 'Best Real Estate Advice Ever' episode 1087 for a full explanation of what this is and why its a threat to investors.  I'm specifically looking to find out of its as serious of a threat as this guy makes it out to be and if so, how does the process work to "quiet the title" in my name and a ballpark figure of how much that would cost.  The guest on that episode says "gobs of money."  I don't know the conversion of gobs to dollars, but I'm guessing it's a lot.  I'm waiting on a call back from my attorney to see if he's familiar with this issue.

Thanks Friends 

Zack