Wed Oct 31, 2012, 04:17 PM

Fraudclosure: Ohio Supreme Court: Bombshell win for homeowners

http://ohiofraudclosure.blogspot.com/2012/10/ohio-supreme-court-bombshell-win-for.html

BOMBSHELL WIN: Schwartzwald vs. Federal Home Loan (Freddie Mac)
Lack of standing CANNOT be cured or remedied with a later assigned mortgage
Judgement REVERSED and CASE DISMISSED

The Supreme Court of Ohio ruled that standing to initiate a mortgage foreclosure lawsuit is determined on the date the complaint is filed. A foreclosing party, which lacked standing at the time the suit was filed, CANNOT remedy that defect by obtaining an assignment of a mortgage and promissory note AFTER the filing of the foreclosure action but prior to an entry of a final judgment.

The court’s 7-0 unanimous decision dismissed a decree of foreclosure granted to Federal Home Loan Mortgage Corporation FHLMA (AKA "Freddie Mac") against Duane and Julie Schwartzwald because FHLMA did not have standing at the time it filed the foreclosure action.

Via Occupy Fights Foreclosures and Occupy Our Homes Atlanta

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4 replies	Author	Time	Post
Fraudclosure: Ohio Supreme Court: Bombshell win for homeowners (Original post)	Fire Walk With Me	Oct 2012	OP
can anyone explain further what this means?	2pooped2pop	Oct 2012	#1
I can't figure it out either but it sounds really exciting, doesn't it?	Fire Walk With Me	Oct 2012	#2
Means mortgage foreclosure lawsuit not proper	elleng	Oct 2012	#3
The Agency was reversed because of its fraud.	Demeter	Oct 2012	#4

Response to Fire Walk With Me (Original post)

Wed Oct 31, 2012, 04:22 PM

2pooped2pop (2,611 posts)

1. can anyone explain further what this means?

thanks

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Response to 2pooped2pop (Reply #1)

Wed Oct 31, 2012, 04:24 PM

Fire Walk With Me (37,002 posts)

2. I can't figure it out either but it sounds really exciting, doesn't it?

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Response to 2pooped2pop (Reply #1)

Wed Oct 31, 2012, 04:42 PM

elleng (40,506 posts)

3. Means mortgage foreclosure lawsuit not proper

as complainant did not actually hold the mortgage at the time the foreclosure suit was filed.

'decision dismissed a decree of foreclosure granted to Federal Home Loan Mortgage Corporation FHLMA (AKA "Freddie Mac") against Duane and Julie Schwartzwald because FHLMA did not have standing at the time it filed the foreclosure action'

Not a surprise due to the long-standing law about 'standing,' and likely means many more families are similarly situated.

Fraudclosure: Ohio Supreme Court: Bombshell win for homeowners

1. can anyone explain further what this means?

2. I can't figure it out either but it sounds really exciting, doesn't it?

3. Means mortgage foreclosure lawsuit not proper

4. The Agency was reversed because of its fraud.