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Judge in New York wpes out Mortgage in Chapter 13 Bankruptcy

By R. Grace Rodriguez, Esq.

My new hero . . . . David B. Shaev, consumer bankruptcy lawyer in Manhattan who is responsible for getting this result!

"Oct. 9 in federal bankruptcy court in the Southern District of New York. Ruling that a lender, PHH Mortgage, hadn?t proved its claim to a delinquent borrower?s home in White Plains, Judge Robert D. Drain wiped out a $461,263 mortgage debt on the property. That?s right: the mortgage debt disappeared, via a court order."

http://www.nytimes.com/2009/10/25/business/economy/25gret.html

I totally get what he did. There is a good chance that if your loan was registered with MERS you could get lucky too. Who knows what the ultimate outcome will be but, at the end of the day, Wells Fargo and PPH got SLAPPED! Way to go Mr. Shaev!

Full post as published by The Law of Second Chances on October 26, 2009 (boomark / email).