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Real Estate & Property Law

: The Home Equity Theft Reporter

Vermont Judge: 'Mortgage Does Not Follow Debt' Where Banksters Intend Otherwise; Failure To Assign Security Agreement With Note Stalls Foreclosure

By r morris

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In states where the common law provides that a transfer of a secured promissory note generally carries with it an equitable assignment of the mortgage securing it (ie. "mortgage follows the note"), does this mean that the mortgage will automatically follow the secured note upon the transfer of the latter?The answer clearly is no, at least not according to Rutland County, Vermont Superior Court

Full post as published by The Home Equity Theft Reporter on March 24, 2011 (boomark / email).

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