A Florida Court of Appeals has reversed a trial court’s ruling and undone a wrongful foreclosure. The lender, JP Morgan Chase Bank, was found to have wrongfully foreclosed and the Court of Appeal has reversed the lower court’s decision and had thus ruled in favor of the homeowner.
Despite the fact that JP Morgan Chase Bank submitted a sworn affidavit that stated it was the proper and legal holder of the promissory note, the Court of Appeal found that JP Morgan Chase Bank had failed to establish that it had the right to enforce the note when the foreclosure action was filed. Additionally, the Court of Appeal even found that JP Morgan Chase Bank had failed to establish that it had legal standing to initiate the foreclosure action in the first place.
Geoffrey Broderick, the senior partner of the Resolution Law Group, says “There are so many instances where lenders and servicers simply assert that they are the lawful Holders in Due Course, when they cannot establish a proper chain of title. It is rare for a homeowner to have the means to be able to go to the Court of Appeal in order to void a wrongful foreclosure. In this instance, the homeowner lost at the trial court level; therefore, we actually had that a Judge that approved the foreclosure, despite the fact that the lender was unable to establish that it was entitled to foreclose.“
Mr. Broderick adds that “The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself.”
The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, and intentionally ignoring underwriting standards and encouraging inflated appraisals.
The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com