And The Foreclosure Hits Keep On Coming

And The Foreclosure Hits Keep On Coming

Federal National Mortgage (FNM) began an eviction proceeding against a couple who occupied their apartment after FNM obtained the deed to the apartment through a foreclosure sale. The, now, tenants of the apartment argued that FNM could not maintain the eviction proceeding since FNM was not the proper assignee to the underlying mortgage for the apartment. The Court held, as reported in the NY Law Journal, that FNM did not provide sufficient evidence that it was properly assigned the underlying mortgage prior to or during the foreclosure action. The Court stayed the eviction proceeding to afford the occupants of the apartment an opportunity to return to the Supreme Court and have their concerns regarding the improper assignment addressed by the Court. Lenders continue to face tough opposition in the New York Court system where, it is longer assumed that the banks acted properly when executing and/or foreclosing upon a mortgage.

By | 2012-01-20T14:23:17+00:00 January 20th, 2012|