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Lack Of Evidence Of Individual's Authority To Execute Assignment Of Mortgage Sinks Foreclosing Assignee In Attempt To Lift Stay In Ch. 13 Proceeding

By r morris

In a recent ruling by a U.S. Bankruptcy Court in Boston, Massachusetts, a foreclosing lender was denied relief from an automatic stay to foreclose on a mortgage. As the basis for its ruling, the court pointed to the failure of the foreclosing lender, Property Asset Management, Inc. ("PAM"), who purportedly acquired its interest in the mortgage via an assignment, to prove that the

Full post as published by The Home Equity Theft Reporter on May 26, 2010 (boomark / email).