This may not be totally on point in California as we have deeds of trust - but is something to talk about with your San Diego Foreclosure attorney
Court Rulings Expected To Impact Foreclosure Filings | Foreclosed Homes Articles: "The suit filed by the Wells Fargo Bank to foreclose on a North College Hill home was reported to witness the similar ruling by Common Pleas Judge Steven E. Martin in Hamilton County. The reason behind the ruling was again the weak proofs put forward by the bank’s lawyer to prove the mortgage ownership of the bank.
In a letter written by Martin to the lawyer of the bank mentioned that the plaintiff failed to justify its interest in the real estate property. The letter also warned the bank’s legal advisory firm, which is third highest in filing foreclosure suits, to come up with strong evidences in the future, while filing a case for the foreclosures.
The actual issue with the real estate mortgages is that the identity of the true mortgage owner is not known in most of the cases. These mortgages are sold from one hand to the other and thus, the banks are not the true owners of the mortgages. This is the reason that puts the banks in the hard situations."
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