FORECLOSURE LAWSUIT DISMISSED

A nice home on a hill

Justice James Pagones, sitting in a Supreme Court part located in Dutchess County, New York recently dismissed a foreclosure lawsuit in the case of Neely v. Flagstar Bank. The homeowners in this case had moved to have the case dismissed. The bank alleged that the homeowner and her late husband had entered into a mortgage loan with Mortgage Lenders Network to finance the purchase of their home. Mortgage Lenders Network thereafter transferred the mortgage but did not transfer the note. The loan was refinanced by Nationstar Bank. Nationstar thereafter assigned the mortgage to Flagstar Bank but also did not transfer the note.

The homeowners requested copies of the note, mortgage and all transfers from Flagstar Bank. Flagstar was unable to produce the requisite documents. The homeowner’s claimed Flagstar lacked standing to bring this proceeding and a mortgage foreclosure proceeding cannot be brought by an institution that does not have the possession of the note.

NY Foreclosure Defense Attorney Elliot Schlissel

Elliot S. Schlissel, Esq. Represents clients throughout the metropolitan area with regard to a href=”/foreclosure-defense/”> and helping them obtain mortgage modifications. He has helped scores of New Yorkers stay in their homes, despite being served with foreclosure papers.

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