If a foreclosure Plaintiff is a servicer and loan owner and they transfer their servicing and loan ownership, to another owner and servicer before their foreclosure sale ,can the foreclosure Plaintiff still assign a bid to someone or do they no longer have authority to assign bids after their transfer?
More detail is needed. However, a plaintiff who transfers an interest in the loan during the litigation generally may continue as Plaintiff, and a Plaintiff has a right to assign its bid to a 3rd party. If you are trying to find a way to prevent the foreclosure sale from going forward, please contact a knowledgeable foreclosure defense litigation attorney right away,
P.S. It is rare (and therefore unlikely) that the plaintiff in your case is both the owner and the servicer of the loan.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
Generally, yes. But if you are a defendant in a pending FC case, or a potential bidder at a FC sale, I would strongly suggest you consult with, and retain a good local FC attorney ASAP. FC defense (or purchase at a FC sale) is NOT a DIY project.
Hope this helps.
This communication is not intended in any way to establish an attorney-client relationship, nor provide legal advice; it is submitted by its author simply as a general comment on the facts contained in the Question posed. NOTE: This attorney contributor is NOT actively seeking new clients.
There is nothing stopping an assignment of bid to a 3rd party no. But this sounds like purely an academic exercise as it will not be grounds to stop the sale. If you have a foreclosure sale you need to retain counsel ASAP as counsel can make a motion to the court if you are doing some type of loss mitigation.
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