NJ Case Dismissed | Foreclosure Notice Found Deficient for Naming Only Loan Servicer, Not Lender

Foreclosure Notice Found Deficient for Naming Only Loan Servicer, Not Lender

New Jersey Law Journal

Mary Pat Gallagher

Homeowners fighting foreclosure have a new weapon: a published trial court ruling that the notice required by law to be sent to mortgagors by certified mail must identify the lender and not just the loan servicing company.

Because the foreclosure notice sent to George and Mona Elghossain did not name the Bank of New York Mellon, which owns their debt, Middlesex County Chancery Division Judge Glenn Berman dismissed the suit without prejudice, rejecting the bank’s request to cure the defect by redoing the notice correctly.

Monday’s ruling, Bank of New York Mellon v. Elghossain, MID-F-13402-10, follows a series of decisions finding would-be foreclosers that did not have possession of the original mortgage note lacked standing and could not go ahead with the process.

Like the standing cases, the notice issue in Elghossain is the consequence of the widespread securitization of mortgages, with accompanying pooling and servicing agreements that have placed loan servicing companies rather than lenders at the forefront of foreclosure efforts.

You can check out the rest of the report here…

And you can check out the courts opinion below…

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4closureFraud.org

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Comments
7 Responses to “NJ Case Dismissed | Foreclosure Notice Found Deficient for Naming Only Loan Servicer, Not Lender”
  1. Herbert C Lubitz says:

    Listen, our homes should not be sold after the signed documents of closing are signed, a contract is a contract. If we can’t transfer our home over to someone else to take over the loan responsibilities, then they should not be allowed to transfer their Note over to someone else. They are clearly selling our homes and getting paid more then three times over for the debt, how can you charge the borrower for mortgage insurance so they get paid for the home loan, and the borrower loses the home and the mortgage insurance, and still be responsible for a debt they clearly got paid for at our expense? If we the people want to protect our interest, we have to get our own insurance to cover our loss if something happens. If we don’t want to lose money on a brand new car we have to pay the insurance, so why are we forced to pay for someone else’s loss when they are causing all the losses? The banks don’t even put up any money to fund your home, they use your signature as collateral to sell to foraign investors, and they are buying each and every American as slaves for their country. This country is being sold out by Banks as investors are expecting to get back interest, and are using us as backing for a bond sold by the governments, not just in America but globally. Wake up people you are accepting paper money that has no value at all as NOTE an what is backing up that NOTE? Human signatures, not material gold or silver, but us people as backing of NOTES. By the FED printing up fiat money and using you kids and grand kids as collateral, and who gains? Banks, the FED, The governments, Fraudsters including the false Presidents that have no standing to be over the People in control of us. Property was staked out, and was called homesteading, until the Banks came from England and took over the people yet again under the guise of government that people think they voted in. We didn’t vote anyone in, they just put in one of their puppets they think we would trust to hide the slavery. These Presidents were not in office by the People, and the Presidents that were supporting the People were assassinated because they went against the program.

  2. popgoestheweasels says:

    Well I agree there needs to be more done because chances are they will refile with all the more bogus ‘filler’ information’. My plaintiff says just Chase ( no trust, trustee or nothing there after) which I knew was a red flag all along because as I started to go through ALL my old papers I found 2 letters dating one in 08′ and one in 09′ CLEARLY stating that Chase was welcoming me as my new SERVICER. I wish I could post them here on the website for Chase victims to see because these are letters most everybody probably threw out in the trash back then. These are letters that really got me off my ass to start a mission of my own. Not to mention the paper work I have from the original brokerage firm saying they were the owner lol whom also have been shut down for bad business practices…No body is stealing anymore of my money to pocket for the next 30 years and turn around and not guarantee that I will have full sole CLEAR title when all is said and done. All these Americans still paying their mortgage thinking they are doing the ‘right thing’ and that we are just deadbeats LOL makes me laugh my fanny off. They are victims TOO they just don’t know it yet or want to admit it! They are more ignorant then the millions stuck in foreclosure now, but the tides are turning and people are educating themselves. Save your money ( if the American dollar is still worth anything)! Squat in your home, don’t leave, and fight for your rights to find out the truth. It’s time for the banks to bend over & shove the crime right back up their ass.

  3. Herbert C Lubitz says:

    There is only one way to fix this and that would be the below:
    Right from the closing, the original should be stamped by the court house records ” NOT FOR RESALE”
    And if the original lender was going bankrupt then stamp ” Closed account for insurance claims only once”
    and if it was the original lender at paid off status then it should be stamped “PAID BY CONTRACT AND CLOSED DEBT”
    IF the borrower goes into bankruptcy then the original should be stamped with the inclusion of Bankruptcy on it by the original borrower estate lawyer.
    All this mess being perpetrated on the people without the ORIGINAL DOCUMENTS should be prosecuted by law in process of fraudulent claims. NO EXCEPTIONS! How simple do you need for a solution? After all these are supposed to be College educatied people smarter then a fifth grader. Or are they using false documents to show they have an education too.

  4. housemanrob says:

    STOP THIS ALL….ONE WAY! STOP! MAKE NO MORE MORTGAGE PAYMENTS AND THE GANGSTER BANKERS WILL GO BROKE?? THEN NO MORE CASH TO THROW TO THEIR SHILLS AND DOWN COMES THE WHOLE HO– USE OF CARDS!!

  5. lisamarie says:

    Amen. We need to stop skirting the resolution. The only right thing to do is STOP GIVING FREE HO– USES to the banks! Give them to the only true investor that will stand up, The Homeowner.

  6. l vent says:

    This is indeed great news for this homeowner but there needs to be more done for ALL OF the victims of Foreclosuregate. They have violated all of our rights and protections that were put in place to protect us from the criminals and took full and terrible advantage of all of us from the ORIGNATION FRAUD to the FRAUDCLOSURES. The CLEAR AND PRESENT PROOF OF THEIR CRIMES AND AB– USES SHOULD BE CA– USE ENOUGH FOR FULL LOAN RECISSIONS NATIONWIDE. IF THERE IS CLEAR PROOF OF FRAUD IN THE ORIGINATION THAN THERE IS FRAUD ALL OVER THE PLACE INCLUDING IN THE FRAUDCLOSURE, THE TWO GO HAND AND HAND.AND IF THERE IS FRAUD IN THE FRAUDCLOSURE THAN THERE IS FRAUD IN THE ORIGINATION. THERE IS NO FIXING THIS. THEY ARE JUST USING MORE FRAUD TO COMMIT MORE FRAUD AS THE JUDGE IN COOK COUNTY ILL RULED ON A COUPLE OF WEEKS AGO WHEN HE DISMISSED 1700 FRAUDCLOSURE FILINGS BECA– USE OF FISHER AND SHAPIRO’S USING FAULTY AFFADAVITS TO FRAUDCLOSE. RESCIND OUR LOANS. GIVE THE STOLEN HOMES BACK TO THE PEOPLE AND ALL OF THE STOLEN MONEY THEY MADE OFF OF THE BACKS OF THE HARDWORKING AMERICAN PEOPLE.

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