OFFICIAL PRESS RELEASE
NJ Court Dismisses Bank of America Foreclosure Complaint due to Violations: Bank of America Lacked Standing – Wells Fargo Violated Fair Foreclosure Act
Summary- An order was filed by the Hon. Peter E. Doyne, of the Superior Court of New Jersey Chancery Division: Bergen County on April 25th, 2011 dismissing a foreclosure complaint brought by Bank of America. The court ruled that Bank of America did not have possession and control over the mortgage note and illegally had Wells Fargo send a notice of intent to foreclose. Counsel for the defense, Denbeaux and Denbeaux’s, notice of cross motion for a summary judgement was granted and the action was dismissed without prejudice.
FOR IMMEDIATE RELEASE (Westwood, NJ) May 2, 2011
According to a ruling filed April 25th by Judge Peter E. Doyne of the Superior Court of New Jersey Chancery Division: Bergen County, Docket No F-61880-09, a foreclosure complaint by the Bank of America was dismissed because the bank failed to establish standing and was denied a motion for a summary judgment.
“This is a big win for us, “says counsel for the defense, lawyer Joshua Denbeaux, of the Westwood New Jersey law firm, Denbeaux & Denbeaux.
“The home owner got into financial difficulty, and rather than try to work with them, Bank of America filed an instant motion for summary judgment to foreclose on the house. It was a way to try to quickly brush past the fact that Bank of America did not have possession of an executable note, and had no right to enforce a note it did not have control over,” said Mr. Denbeaux
Also in the ruling Judge Doyne said the “plaintiff violated the FFA”, [the Fair Foreclosure Act N.J.S.A. 2A:50-53 to 50-68] and that the “plaintiff failed to comply with the requirements of the FFA a residential mortgage lender must send an NOI [Notice of Intent to Foreclose ].
Homeowners with immediate questions about home loan modifications and foreclosure, can call Joshua Denbeaux of Denbeaux and Denbeaux at (201) 664-8855 or email pr(at)denbeauxlaw(dot)com. Josh will hold a live video webinar online for New Jersey homeowners this coming Friday May 6, 2011 at 6:00pm to answer questions. Email pr(at)denbeauxlaw(dot)com to pre-register. Seating is limited to the first 50 respondents.