The article discusses a recent decision in the case Mbazira v. Ocwen Loan Servicing, LLC (In re Mbazira). In that case, the United States Bankruptcy Court for the District of Massachusetts determined that a bank, which was an assignee of a mortgage, lost its mortgage in bankruptcy due to a faulty acknowledgment appended to the mortgage document. The decision sends the message to borrowers that they can use bankruptcy as a device to wipe out otherwise valid mortgages encumbering property by pointing to purported flaws in a lender’s recording of the mortgage document in real property records. Read more: http://www.law.com/sites/camishasimmons/2015/04/05/bank-loses-mortgage-in-bankruptcy-due-to-mere-technicality/#ixzz3Wpyuy5ZB
Camisha is the Founder and Managing Member of Simmons Legal. She is dedicated to assisting parties in protecting their interests in corporate restructuring, creditors’ rights, real estate transactions, other business transactions, and litigation matters.
Loading...