Question: Sometime last year, a
bank, which doesn't own my mortgage and is not servicing
my mortgage, filed for
foreclosure on my property. A week after, that bank
withdrew the foreclosure and nothing has been done
since. Yesterday, I was notified that a clerical error
was entered on my property description by a company that
I believe was hired by that bank. No one ever contacted
me about this nor showed me how these changes affect me.
I believe that the deed has been separated from the note
by this bank that I never dealt with.
Response: Generally, when banks
start a
foreclosure action and immediately thereafter
voluntarily discontinue it, there is a procedural
problem that they realize may prevent them from
foreclosing on your property. For example, if your loan
is owned by the first bank and it was recently sold to
the second bank and they have started a foreclosure
action in the name of the second bank but the assignment
of mortgage (document that transfers ownership of the
note and mortgage) is in the name of the first bank,
then there is a procedural defect in the case and the
Plaintiff would have no standing to sue you because at
the time of commencement of the action, the loan was
still owned by the first bank. This is just an example.
I am not sure exactly what happened that led to
discontinuance of the case. Contact an
attorney
who is experienced in these matters to discuss how your
legal position may be affected and what defenses you now
have to a new foreclosure action. Good luck!
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
Copyright © 2015 Law Office of Svetlana Kaplun, P.C.
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