WESTWOOD, N.J., May 4, 2011 /PRNewswire/ -- New Jersey court dismisses foreclosure complaint ruling that Bank of America did not have possession and control over the mortgage note and illegally had Wells Fargo send a notice of intent to foreclose.
According to a ruling filed April 25th by Judge Peter E. Doyne of the Superior Court of New Jersey Chancery Division: Bergen County, Docket No F-61880-09, a foreclosure complaint by the Bank of America was dismissed because the bank failed to establish standing and was denied a motion for a summary judgment.
"The home owner got into financial difficulty, and rather than try to work with them, Bank of America filed an instant motion for summary judgment to foreclose on the house. It was a way to try to quickly brush past the fact that Bank of America did not have possession of an executable note, and had no right to enforce a note it did not have control over," said Mr. Denbeaux.
Also in the ruling Judge Doyne said the "plaintiff violated the FFA," [the Fair Foreclosure Act N.J.S.A.. 2A:50-53 to 50-68] and that the "plaintiff failed to comply with the requirements of the FFA a residential mortgage lender must send an NOI" [Notice of Intent to Foreclose].
Homeowners with immediate questions about home loan modifications and foreclosure can call Joshua Denbeaux of Denbeaux & Denbeaux, 366 Kinderkamack Road, Westwood, NJ 07675 at (201) 664-8855 or email [email protected]. Josh is hosting a live video webinar on "What to do if Facing Foreclosure and Home Loan Modifications" this Friday, May 6, 2011 at 6:00pm EDT. He will present his experience in the New Jersey courts on these topics and to answer questions, to register for the webinar email [email protected].
SOURCE Denbeaux & Denbeaux