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[-] Comment on "Courts to Good Faith Buyers in Foreclosure Sales: "Tough Luck?"" - Source of Title/OH (5 replies)
1/21/2011 5:29:56 PM (2966 views)
Bevilacqua - Leigh Attridge/MA
1/21/2011 5:29:56 PM (3647 views)
What a mess :-( - Slade Smith/OH
1/22/2011 5:23:54 PM (3367 views)
What about title insurance? - Robert Franco/OH
1/22/2011 4:11:20 PM (3575 views)
Re: What about title insurance? - Slade Smith/OH
1/22/2011 5:35:03 PM (5827 views)
Re: Comment on "Courts to Good Faith Buyers in Foreclosure Sales: "Tough Luck?"" - Leigh Attridge/MA
1/22/2011 9:40:03 PM (3347 views)

Here's the deal.  Pablo Rodriguez bought the property in 2003 for around $350K.  He refinanced in 2005 & that was the mortgage was foreclosed.  The  mortgage was to MERS for Finance America LLC for $315K; and the property went into foreclosure in 2006.  The problem is that the Order of Notice recorded March 3, 2006 listed US Bank, NA as trustee as the mortgage holder.  It was not.    At that time the mortgage had not yet been assigned.  The assignment out of MERS to US Bank was DATED July 21, 2006 and recorded September 28, 2006.  The Land Court judgement allowing the foreclosure  was DATED April 21, 2006 & recorded October 3, 2006, citing US Bank, tee as the mortgage holder, when, by the terms of the assignment it was not the holder at all.  The deed under power was DATED June 29, 2006 and recorded October 3, 2006, & US Bank, NA, Trustee was named as the mortgage holder, when, again, by the terms of the assignment it did not own the mortgage.  Additionally, the publication dates listed in the affidavit of sale naming US Bank, NA as trustee as the mortgage holder were April 20, 27 & May 4, all of which predate the internal date of the assignment.  There was a confirmatory foreclosure deed dated October 9, 2006 and recorded October 25, 2006, which was probably an attempt to clear the title in terms of the assignment dates.  I can see where the judge disallowed the foreclosure. 

There weren't any lawsuits on record (no lis pendens, attachments or the like) that I could find against Mr Bevilacqua - just the four deeds out for consideration. 

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