Resent research has shown that the typical wrongful foreclosure case involving big lenders such as Bank of America, Wells Fargo, Chase, Citibank, Deutche Bank, and Mortgage Electronic Registration Services (aka MERS) have all the rulings going in their favor. It doesn't seem to matter if you pay attorneys $10,000 or more for litigation to stop or enjoin a foreclosure, the courts are ultimately not ruling in our favor. This case embodies every last theory I had in my bag of tricks to go after a wrongful foreclosure case. All wiped out.
HERRERA v. FANNIE MAE (Federal National Mortgage Association)
No. E052943.
May 17, 2012.
Borrowers under deed of trust brought action against Federal National Mortgage Association (Fannie Mae) to set aside the trustee's sale of their home, to void or cancel the trustee's deed upon sale, and for violation of the statute governing assignment of power of sale.
Court of Appeal 4th District Affirmed the trial court's rulings which held that:
1. MERS had authority to assign deed of trust;
2. The assignee of deed of trust had authority to execute substitution of trustee;
3. Civil Code § 2932.5, the statute governing assignment of encumbrancer's power of sale did not apply to power of sale under a deed of trust; and
4. That Fannie Mae was authorized to initiate foreclosure before assignment of deed of trust was recorded.
Readers it is crystal clear. You are going to have to reconcile with your lender or try to get them to give you a loan modification, or get out using short-sale transactions, or simply walk way in foreclosure. NOW more than ever you need the qualify services of the Law offices of R. Grace Rodriguez, to help go over your strategy for dealing with the mortgage nightmare that America's leading lenders handed you to deal with. You must speak with competent bankruptcy attorneys who can help you with all different types of bankruptcies if they are necessary to help you achieve your goal of saving your home. Alternatively you can benefit from our extensive skills in helping you maximize the benefits of surrendering your home and achieving the greatest cost savings, potentially leaving you with the ability to purchase a new home with the savings you have achieved.
Call us today for help. The consultation is free!
