The case was out there for two years with no action, recently case got awakened. The trial is scheduled for 01/06/15. Why would Bank of America assign mortgage to someone else? Does it give me any benefit for defense? Can I now ask for dismissal of foreclosure case since the foreclosing party just gave the mortgage away. Is it oversight or regular practice?
What are my next steps as a pro se? Thank you, All!
Yes that happens frequently and usually in the eve of trial
Consult with a foreclosure attorney immediately so that you don't go into trial alone and you don't end up losing the home and have a judgment against you
The banks are truly working with homeowners but first and foremost you need an attorney to review all the mortgage documents particularly the assignments to make sure the right party is suing you and can win
The first consult is always free
Ms. Salcines has provided a solid response. The fact of this assignment MAY provide a defense to a final judgment if the assignee has not been substituted in for BOA as plaintiff, but this is merely one of many issues your attorney should look at. Do obtain legal counsel right away.
There are still things that can be done, but the absolute best advice I can give you is to get a knowledgable attorney IMMEDIATELY. Bank of America is no doubt just the mortgage servicer. Servicing rights are transferred all the time, and Bank of America was forced by the regulators to transfer much of its servicing elsewhere because it was doing such a horrible job. However, the transferee servicers are often as bad or worse. Most of the BoA servicing transfers have been to Nationstar and to Greentree. Transfers of servicing are not a basis to dismiss, or to defend, without more. However, there undoubtedly IS more, and much of the point is that a close analysis of your loan and the servicing of it be done to ascertain what defensive issues exist. The first part of the analysis is to ascertain what your actual objective is, and then to formulate a strategy that is geared to attempting to achieve that objective. There are multiple options when addressing the defense of foreclosure, and no way to advise you what your next steps should be without that analysis, which MUST be done by someone who really understands this whole area of law.
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.
It is a common practice for lenders to sell loans. Defaulted loans and loans in the foreclosure process are frequently sold. It may provide leverage is some situations, but a loan sale will not carry the day or cause a dismissal in typical circumstances. If you have not lawyer'd up, you should, especially if you are upside-down. Upside-down is where the total debt exceeds the value of the property.
If you are seeking to keep your home, I recommend speaking to a knowledgeable attorney with both bankruptcy and foreclosure experience. Most attorneys in these practice areas offer free consultations.
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