Posted on: 09th Apr, 2009 09:00 am
A recent Land Court decision that is currently a hot topic of discussion among conveyancers and underwriters in Massachusetts. Essentially, the court has invalidated any foreclosure sales where the mortgagee did not hold the mortgage via an unambiguous assignment dated prior to the date of sale. I have seen similar decisions coming out of bankruptcy courts, but this is the first time that a state court in Massachusetts has opened on this subject with such great detail. While most of New England states have judicial foreclosures, and the issue of the mortgagee's identity may be resolved by the court prior to the sale, I wanted to share this recent development in Massachusetts with you.
Does anyone have any information re: this change?
Does anyone have any information re: this change?
Hi guys! There's an article on our plight. However, you have to pay to actually read the article. UGH
it on banker and tradesman
It would be nice to know what it says! But I love the reference on how it leaves realtors in the lurch
it on banker and tradesman
It would be nice to know what it says! But I love the reference on how it leaves realtors in the lurch
I know today is the next "deadline" for paperwork to be in - but should we be expecting any news today?
the article basically says that if the Land Court doesn't overrule the decision today, it will go to Appellate Court. It also discusses the frustration that no one knows anything, and who is responsible for these properties if the bank technically doesn't own them, etc etc... that there are a number of questions raised by this decision and no one knows the outcome. so let's hope the Court overrules the decision!
Anyone have any news?
Anyone have any news?
So I just heard back from our realtor that they will be pulling the house that we had a P+S on off the market as a result of the Massachusetts Land court Hearing. I don't know if this is the outcome of the hearing today, June 8, 2009, but I was advised that the bank would be reimbursing our money that we spent on inspections and appraisals and anything else up to $1000.00 and of course, our down payment. It's good to hear that I will atleast be getting my money back instead of being out of a home and $775 for inspections and appraisals on a home that wasn't even legal to be sold.
I also decided to write to Help Me Hank this morning on this issue. I did not hear back from Judge Long's office so I decided to take it a step further. I heard back from WHDH and they had many questions and wanted to know if I would be willing to do an interview on the story. I typically would not but knowing that there are so many of us out there trying to just purchase a house and we can't due to some case law that has put a freeze on all foreclosed properties....I told them that I would be willing to do anything to move this along. If you are interested in reaching out to Help me Hank I think it is worth our time. It is a simple email and they WILL get back to you.
Can't hurt right?
Can't hurt right?
I'll do it, gmorin!
Hi Fellow Friends! I just finished emailing Help me Hank.
Any news on what occurred yesterday?
I've started looking for new properties but the search is not easy and there not much around in my price range. But I check in every day just to see what is going on.
Thanks gmorin for getting the ball rolling
Any news on what occurred yesterday?
I've started looking for new properties but the search is not easy and there not much around in my price range. But I check in every day just to see what is going on.
Thanks gmorin for getting the ball rolling
Hey everyone. In the same boat. Emailed them as well, hopefully we'll get some progress. Anyone know what happened yesterday?
I'm in the same boat. What is the email? so I can send one as well.
Thanks.
Thanks.
Sorry, this forum does not allow us to place email addresses in the posting. Just google "Help Me Hank, WHDH Boston"and you should find it easily
Has anyone heard anything from yesterday? I have an email into my lawyer but I haven't heard anything yet.
Has anyone heard anything from yesterday? I have an email into my lawyer but I haven't heard anything yet.
article in the Herald today... Nothing on the ruling...
it won't allow me to post the link though.
it won't allow me to post the link though.
I emailed Judge Long's office, here is their response.
Good Morning Ms. Morin,
In response to your inquiry I can offer you the following information. Judge Long had requested additional documents from the plaintiff banks at a hearing held on April 21, 2009. Those additional documents were filed yesterday, June 8th. There was no hearing yesterday, it was simply the court imposed deadline for the plaintiffs to file the documents requested by Judge Long. The parties who have filed amicus briefs with the court will be given a short opportunity to file a response, if any, and then the matter will be placed under advisement.
I can't comment any further as the responses of the amicus parties are not yet filed with the court and thus any further comment would be mere speculation.
Sincerely,
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
Land Court Department of the Trial Court
226 Causeway Street
Boston, MA 02114
(617)788-7463 Phone
(617)788-8951 Fax
Good Morning Ms. Morin,
In response to your inquiry I can offer you the following information. Judge Long had requested additional documents from the plaintiff banks at a hearing held on April 21, 2009. Those additional documents were filed yesterday, June 8th. There was no hearing yesterday, it was simply the court imposed deadline for the plaintiffs to file the documents requested by Judge Long. The parties who have filed amicus briefs with the court will be given a short opportunity to file a response, if any, and then the matter will be placed under advisement.
I can't comment any further as the responses of the amicus parties are not yet filed with the court and thus any further comment would be mere speculation.
Sincerely,
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
Land Court Department of the Trial Court
226 Causeway Street
Boston, MA 02114
(617)788-7463 Phone
(617)788-8951 Fax
Doesn't sound like anything is going to be resolved anytime soon. This sucks.
Heard from the seller's agent - they are saying to hang out and check back in in two weeks. Crazy. It's a good thing we can all put our lives on hold for two weeks while a major financial decision hangs in limbo.
Nothing from Hank yet but I did find the Herald article. It really bites that there is so little information out there. One thing that I do think should stop happening is the "new" listings for bank owned houses. If a bank is unsure whether they own the house they should not be asking anyone to look at it just so they can be told what we have been told:
"you can look but you can't buy...."
"we can ask anything we want from you but we don't have to let you know, until we get what we want, that we can't sell you a house because we have no idea if we own it in the first place."
If a class action suit is going to take place, like the Herald article says, then who can say whether or not some of the houses may go back to the owners who lost them in the first place.
"you can look but you can't buy...."
"we can ask anything we want from you but we don't have to let you know, until we get what we want, that we can't sell you a house because we have no idea if we own it in the first place."
If a class action suit is going to take place, like the Herald article says, then who can say whether or not some of the houses may go back to the owners who lost them in the first place.