Judge Boyko Rulings
On October 31, 2007 Judge Christoper A. Boyko, U.S. District Court Judge for Northern District of Ohio, Eastern Division ruled Deutsche Bank as the Plaintiff in fourteen separate foreclosure actions lacked standing to proceed against the homeowners with the foreclosures. Deutsche Bank was trustee for investors who owned asset backed securities which had been sold on Wall Street as bonds.The outcome of the judge’s ruling was that Deutsche Bank didn’t own anything. They didn’t own the mortgages, therefore they lacked standing to pursue a foreclosure action.
Although not exactly new news, this is great news for those of you that are being sued for foreclosure by some entity that you’ve never heard of. Check the public records in your county and see whether the mortgage was transferred to this unknown entity. If so you may be able to use that fact as an affirmative defense to the foreclosure action.
I am not an attorney, I’m just another person trying to keep my head above water.
