Articles Posted in Foreclosure

Bank of America filed a foreclosure action, seeking the foreclosure of a “prime/traditional/conventional loan,” but asserted that a pre-foreclosure notice was sent to the home-owner in compliance with the rules governing subprime loans. In other papers, the bank identified the loan as subprime, but that no notice was sent because it was not required. Finding the papers to be “replete with inconsistent and inaccurate proofs,” the court dismissed the case.

Suffolk County Judge Arlen Spinner had another foreclosure case on his chopping block recently. Chase filed a foreclosure action claiming that the home-owner signed a mortgage, which was in default. One of Chase’s allegations was that the home-owner signed the mortgage. Examining the mortgage and note, however, indicated that the mortgage and note were for different amounts, and signed by someone other than the home-owner. Judge Spinner found Chase’s papers to be “grossly inaccurate and untrue” and scheduled a hearing to determine whether sanctions should be assessed.