Blog — In case it helps anyone who might need it:
In a stunning victory for borrowers, a New Jersey court has dismissed a foreclosure action filed against the borrowers by Deutsche Bank Trust Company America as alleged trustee for a securitized mortgage loan trust after Deutsche Bank willfully, and despite the entry of three (3) separate court orders, refused to produce documents demanded by the borrowers which included documents setting forth the identity of the true owner and holder of the Note and mortgage, the complete chain of title to ownership of the note and mortgage, payment application histories, and documents as to the securitized mortgage loan trust. The Court had given Deutsche Bank multiple opportunities and extensions of time to produce the documents, but Deutsche Bank continually refused to produce any of the documents requested, resulting in the dismissal of Deutsche Bank’s foreclosure action. The Court also ruled that Deutsche Bank is not permitted to re-file any foreclosure action until it is prepared to produce ALL of the subject discovery.
So, in other words, if you’re in or nearing foreclosure, be sure to ask for the documentation from whoever is fighting you in court. If your loan got securitized, or if the initial mortgage holder got shut down by the FDIC, the odds are the papers in question aren’t readily available.
Check with your attorney, but if you’re in or near foreclosure, the odds are this buys you time by leaving you in a legal limbo, where you get to stay in your house without making any mortgage payment.