Consumer Rights Defenders, Inc., Opens Offices in Dallas and Virginia [Mid Atlantic Office] !!!
CRD announces the opening of 2 new offices to serve homeowners in the mid West and East Coast in Dallas, Texas and in Virginia.
Our team of lawyers, paralegals and experts is standing by to help you with your need. Don’t lose your home to the bank when you can sue and stop foreclosures and work out a settlement with our help. Call is today at 818.453.3585 and ask for Steve, Nicole or Jasmine.
We blog on Neil Garfield’s web log “Living Lies” so keep posted on the latest in the war for homeowner survival weekly. For our Spanish speaking clients, call is today and ask for Jasmine. We can help you today!!!
consumerrightsdefenders 
Was your note paid off by “foreclosure” insurance but you did not receive any notice? You may own your home outright according to our retired law professor. Call CRD to get the scoop immediately at 818.453.3585. Huge settlements may be ahead over this issue with millions at stake. .
December 2012 BLOG for our homeowners and readers:
This is a response by our legal team to an inquiry about an assignment of a deed and its effect.
Nothing here is meant to be legal advise and should be confirmed by your own legal counsel. *************************************************************************************
What impact does the recording of Assignment of Deed of Trust have BEFORE receiving Notice of Default?
Foreclosure Inquiry from Ellen in California:
My mortgage was discharged through Chapter 7 in February 2009. I stopped making payments to BofA in September 2010 because they declined to modify my loan. I’ve received two Intent to Accelerate letters, but I have not received my NOD.
I noticed that an Assignment of Deed of Trust was recorded on 6/22/2011. What impact does this have, if any, on the foreclosure process in CA? Should I be concerned that the grantee is no longer BAC Home Loans and is now Bank of New York Mellon?
Again, a NOD has not been recorded and I have not received anything from BofA or the new bank. I guess I don’t have a firm understanding of Assignment of Deed of Trust.
Thanks in advance for your help!
Ellen
_________________________
Our Response: [Note para. 4 on enjoining the foreclosure sale with a TRO. CRD does this service regularly for our nationwide clients with a 93% success rate in Calif alone.]
Note that a valid assignment requires more than just assignment of the Deed of Trust; the Note must also be assigned. (See Carpenter v. Longan (1872) 83 U.S. 271, 274.) As stated by the Supreme Court in Carpenter, “[t]he note and mortgage are inseparable; the former as essential, the latter as an incident”; “[a]n assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.” (Id., see also Kelley v. Upshaw (1952) 39 Cal.2d 179, 192 [assignment of only the deed without a transfer of the promissory note is completely ineffective]; see also Restatement (3d) of Property (Mortgages) § 5.4[“[a] mortgage may be enforced only by, or in behalf of, a person who is entitled to enforce the obligation that the mortgage secures.”)
Typically, an Assignment of Deed of Trust contains express language stating that the grant, assign and transfer is done “[t]ogether with the note or notes therein described or referred to, the money due and to become due thereon, with interest, and all rights accrued or to accrue under said Deed of Trust.”
In a typical wrongful foreclosure case, the plaintiff does not deny the plaintiff was in default under the deed of trust. By signing the deed of trust, the plaintiff contractually acknowledged that in the event of default by plaintiff, foreclosure of the loan could result. If the deed of trust contains an express provision granting a power of sale, the beneficiary may pursue non-judicial foreclosure. (Moeller v. Lien (1994) 25 Cal.App.4th 822, 830; Ung v. Koehler (2005) 135 Cal. App.4th 186, 192.)
A claim that physical possession of the note is required is not actionable. (Saxon Mortgage Services, Inc. v. Hillery (2008) 2008 WL 5170180 (N.D. Cal. 2008), page 5, and In re Vargas (2008) 396 B.R. 511. But, failure to prove ownership and right to enforce the note as a result where there is a questioned chain of title may be a basis for Injunction against foreclosure by the trustee/beneficiary or loan servicer.
When there is an assignment of the deed of trust, the assignee is granted the authority under California law to initiate the foreclosure process on behalf of the beneficiary and its successors and assigns. See Civil Code §§’s 2924(a)(1)&(4) (where a power of sale is conferred upon the mortgagee, trustee or any other person, the power shall not be exercised until the trustee, mortgagee, or beneficiary, or any of their authorized agents record a notice of default and notice of sale, etc.).
Even if the assignment is not recorded, this does not mean that the assignment is invalid. There is no requirement under California law that an assignment must be recorded in order for an assignee beneficiary to foreclose. (Parcray v. Shea Mortgage (E.D. Cal. 2010) 2010 WL 1659369, page 11.)
The information presented here is general in nature and is not intended, nor should be construed, as legal advice.
Consumer Rights Defenders, Inc.
818.453.3585
CR.Defenders@yahoo.com
We are in California, Texas, Virginia, Maryland, Washington D.C., serving all homeowners nationwide.
From Consumer Rights Defenders : Jan 22, 2013
Neil Garfield’s LIVING LIES weblog says: Powerful Foreclosure Injunctions are available to homeowners. Call us and we will set up your free consultation. Over 200 successful foreclosure injunctions obtained for property owners.
Our services as low as $1500 for state court actions. Attorneys and expert auditors are standing by for you.
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818.453.3585
Consumer Rights Defenders
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