Currently in Foreclosure, Securitization Examination completed, Purported Lender has NO standing or jurisdiction. Filing Summary Judgment and upon winning, I DO NOT want anyone NO MATTER WHO, to ever be able to put myproperty into foreclosure again !! Do I ask for this Summary Judgment to be Without Prejudice? or Without Recourse?
Thank you in advance
Chapter 7 Bankruptcy Attorney
You should demand that the Plaintiff's case be dismissed "with prejudice." That only means that this particular Plaintiff can never bring this particular claim against you. Of course, if they can ever figure out who is the true owner of the note and mortgage (the real party in interest), then that person can sue you. And they will.
The tragedy of the present financial crisis was created by banks that sliced and diced their mortgages and then sold pieces of them to who knows who. Sometimes they just can't prove who owns what. If that happens in your case, you have no mortgage to pay (Good), but you also have an unsaleable home that has unclear title (Bad). The only way to clear title to your home is to file an "action to clear title." That can make your home saleable.
This a slow, expensive, complicated procedure that absolutely needs an experienced attorney. So save those mortgage payments, wait a year and get an attorney's advise on filing to clear title if no one files suit on your mortgage. Good luck.
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Chapter 7 Bankruptcy Attorney
You cannot ultimately stop the proper party from suing for foreclosure, and no order from this proceeding will limit the rights of the proper party because they have not appeared in the suit.
Without prejudice means they can file the same suit again.
Without recourse means that they have no right to the relief.
Disclaimer: This answer does not constitute legal advice. I am admitted in the States of New York, New Jersey and Massachusetts only and make no attempt to opine on matters of law that are not relevant to those three States. This advice is based on general principles of law that may or may not relate to your specific situation. Facts and laws change and these possible changes will affect the advice provided here. Consult an attorney in your locale before you act on any of this advice. You should not rely on this advice alone and nothing in these communications creates an attorney client relationship.
Jurisdiction is a matter concerning whether the court concerned is the proper venue in which to bring an action.
Legal disclaimer: This is not legal advice and is not intended to create an attorney-client relationship. The post is only an opinion. You should speak to an attorney for further information. The poster is licensed only in Illinois. Please visit www.bernardjconway.com for more information about our services. If this post is useful to you, please remember to upvote it.