Monday, September 3, 2012

As Bay State Homeowner Watches Auctioneer Sell Her Home In Foreclosure, She Vows To Fight On With Suit; Says Bank Can't Prove It Had Proper Paperwork

In South Orleans, Massachusetts, the Cape Cod Times reports:

  • The best intentions and the vocal support of the local Occupy movement couldn’t stop Sandy Schaefer-Ung’s home from being auctioned on Wednesday – but the South Orleans woman still holds out hope that a lawsuit will let her keep her home.
  • Schaefer-Ung’s lawyer, Jamie Ranney of Nantucket, filed a lawsuit in Land Court earlier in the day, arguing that U.S. Bank couldn’t prove it was the proper mortgagee.

    In the filing, Schaefer-Ung “denies that U.S. Bank or any other respondent possesses or can establish a lawful and valid chain of title to any mortgage, note, or any other interests in the premises that may have been originally granted” by her. Ranney said the promissory note he received was a photocopy which, he said, the line sayingpay to the order ofis blank.

    According to a recent decision by the Massachusetts Supreme Judicial Court, the lender trying to foreclose must hold both the mortgage and promissory note, which is proof of the debt.

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