New Jersey Law Journal
Mary Pat Gallagher
Homeowners fighting foreclosure have a new weapon: a published trial court ruling that the notice required by law to be sent to mortgagors by certified mail must identify the lender and not just the loan servicing company.
Because the foreclosure notice sent to George and Mona Elghossain did not name the Bank of New York Mellon, which owns their debt, Middlesex County Chancery Division Judge Glenn Berman dismissed the suit without prejudice, rejecting the bank’s request to cure the defect by redoing the notice correctly.
Monday’s ruling, Bank of New York Mellon v. Elghossain, MID-F-13402-10, follows a series of decisions finding would-be foreclosers that did not have possession of the original mortgage note lacked standing and could not go ahead with the process.
Like the standing cases, the notice issue in Elghossain is the consequence of the widespread securitization of mortgages, with accompanying pooling and servicing agreements that have placed loan servicing companies rather than lenders at the forefront of foreclosure efforts.
You can check out the rest of the report here…
And you can check out the courts opinion below…BANKofNYMellon-vElghossain
1 comment:
Grassroots Assembly for Mortgage Fraud Victims, LLC NEEDS YOUR SUPPORT!
The underlying truth on what the banks (servicers) have been hiding and wrongfully foreclosing and collecting mortgage payments on is what we call…“UNCLAIMED PROMISSORY NOTES”
The Investors do not own these loans, all of which have been forged, securitized, lost and never assigned. The investors (THE PEOPLES: pensions, 401-K, mutual funds, etc.,) who have paid for the majority of these “fake” loans, are being told by the Government, to walk away from the BAIL OUT money and it’s not to be used to pay for their losses.
We ASK THAT YOU PLEASE JOIN Grassroots in its fight against this Crime handed down by Wall Street and the Banks, where they have intentionally stolen the American Dream.
STAY IN YOUR HOME! FIGHT FOR JUSTICE AND FAIRNESS! THE BANKS DO NOT OWN YOUR LOAN! WE ARE TAKING ACTION NOW!
For more information on our Organization view our video on youtube. http://www.youtube.com/grassroots4homes - and contact us at 1.888.547.8885.
Below is a link to one of our members case brewing in the Rancho Cucamonga Superior Court House for almost 3 Years where Goldman Sachs (Litton Loan Servicing) embezzled $118,800 from the Property and backdated/robo-signed the Assignments and then Foreclosed. http://bushnellcomplaint.blogspot.com/
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