This is in the same Federal Court, Southern District
of New York, where we, the Websters have challanged lender
Wells Fargo for, inter alia, standing and failure to produce
the original note and mortgage at the time of them filing for
foreclosure.
Dated 10/25/09
Read the full New York Times Story which states
"One surprising smackdown occurred on Oct. 9 in federal bankruptcy
court in the Southern District of New York. Ruling that a lender,
PHH Mortgage, hadn't proved its claim to a delinquent borrower's
home in White Plains, Judge Robert D. Drain wiped out a $461,263
mortgage debt on the property. That's right: the mortgage debt
disappeared, via a court order.
"So the ruling may put a new dynamic in play in the foreclosure mess:
If the lender can't come forward with proof of ownership, and judges
don't look kindly on that, then borrowers may have a stronger hand
to play in court and, apparently, may even be able to stay in their
homes mortgage-free."
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