Although I can discuss for hours the multitude of defenses that can be raised by a homeowner being foreclosed upon by a Trustee, like yours; to simply and directly answer your question...
A Plaintiff has the right (as it pertains to ownership and standing) to foreclose if the Plaintiff is the owner OR holder of the promissory note. The mortgage is really irrelevant when it comes to foreclosure in New York. So, when defining "holder", New York courts have held that holder status can be achieved by proving (or just by simply alleging when a defendant does not answer the complaint) the Plaintiff had physical possession of the promissory note at the commencement of the action or if the note was properly indorsed (either in blank or by special indorsement) as of the commencement date of the action.
At this point, if you were just served a foreclosure complaint, I cannot stress enough the importance of retaining qualified legal representation immediately. Make sure to consult and/or retain an attorney/law firm that specializes in foreclosure defense in the State of New York and has firm knowledge of mortgage securitization.
Feel free to follow up with any further specific questions, comments and/or concerns.
Ivan is correct. Before any investigation into the actual assignment can begin you should consult with an attorney to represent you in the foreclosure.
Rory Alarcon, Esq., is a New York attorney practicing the areas of Family Law, Matrimonial Law, Foreclosure Defense, Consumer Defense and other areas of general practice primarily in Suffolk & Nassau County. His office, Alarcon Law Firm, practices only in New York State and offers the best attorney rates in the Long Island area. His office may be reached at (631) 867-2348.
Yes, it has the right to foreclose if you are not current with your payments. Indymac has assigned its rights to Deutsche Bank.
Please note that I am answering this question as a service through Avvo but not as your attorney and no attorney-client relationship is established by this posting. An attorney-client relationship can only be established through signing a Fee Agreement and paying the necessary advanced fees.