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Failure To Assign Note Along With Mortgage Sinks Foreclosing Lender, Says NJ Judge; Real Estate Investor Still Owner Of Home With $1.4M Mortgage

By r morris

In Atlantic City, New Jersey, NewJerseyNewsroom.com reports:With mortgage loans increasingly chopped up and repackaged into other investments, lenders must be able to demonstrate they still hold the underlying note before they can foreclose on a property, a Superior Court judge has ruled.In Atlantic City, Judge William C. Todd dismissed The Bank of New York's attempt to foreclose on a Brigantine

Full post as published by The Home Equity Theft Reporter on July 11, 2010 (boomark / email).