Mortgage Lender NOT Unfucked By the US Bankruptcy Court – Where’s the $^%*& Note?


Breaking DevelopmentsNov.17.2009

New York Bankruptcy Court Expunges Mortgage After Lender is Unable to Produce Assignment

A recent ruling by the United States Bankruptcy Court for the Southern District of New York underscores the importance of making sure that all of the t’s are crossed and i’s dotted when it comes to documenting the assignment of any mortgage. In this decision, the Court took the drastic measure of expunging a lender’s proof of claim after it was unable to prove that it owned the mortgage upon which its proof of claim was based. As demonstrated by the Court’s ruling, failure to accurately and completely document an assignment of mortgage may have dire consequences for the assignee.

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~ by unfuckyourself on November 17, 2009.

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