Posted on: 09th Apr, 2009 09:00 am
A recent Land Court decision that is currently a hot topic of discussion among conveyancers and underwriters in Massachusetts. Essentially, the court has invalidated any foreclosure sales where the mortgagee did not hold the mortgage via an unambiguous assignment dated prior to the date of sale. I have seen similar decisions coming out of bankruptcy courts, but this is the first time that a state court in Massachusetts has opened on this subject with such great detail. While most of New England states have judicial foreclosures, and the issue of the mortgagee's identity may be resolved by the court prior to the sale, I wanted to share this recent development in Massachusetts with you.
Does anyone have any information re: this change?
Does anyone have any information re: this change?
I got a similar response from Scott today. Hopefully the "finishing touches" won't take long! :) If you do get a response from one of the title companies when they get a copy of the decision, I, for one, would love to hear what they say! Thanks! Peter Cooney
Peter, if I get my guy from Stewart on the phone, I will email you personally with his information so that you can contact him to insure your property if they are comfy going forward based upon the decision. Wouldnt it be nice if by Turkey day we were all in our "dream homes"!
If it gets appealed our hope is it will skip Appeals and go straight to SJC for an immediate review and decision (which isnt really immediate!).
Hopefully the news will be good and the Judge sets a date going forward.
If it gets appealed our hope is it will skip Appeals and go straight to SJC for an immediate review and decision (which isnt really immediate!).
Hopefully the news will be good and the Judge sets a date going forward.
Thanks for keeping us in the loop - my deal got pulled last week, hopefully they'll change their minds this week.
Peter, if I get my guy from Stewart on the phone, I will email you personally with his information so that you can contact him to insure your property if they are comfy going forward based upon the decision. Wouldnt it be nice if by Turkey day we were all in our "dream homes"!
If it gets appealed our hope is it will skip Appeals and go straight to SJC for an immediate review and decision (which isnt really immediate!).
Hopefully the news will be good and the Judge sets a date going forward.
If it gets appealed our hope is it will skip Appeals and go straight to SJC for an immediate review and decision (which isnt really immediate!).
Hopefully the news will be good and the Judge sets a date going forward.
Rebas, I will also provide you with the information if you like, we lost the P &S on our "dream home" too, my hope is if the decision is favorable and insurance will write, then I will call the realtor and seek his help with getting in touch with the bank, we can close quick, I am sure you can too with all the time we have had on our hands!!
Here is today's email from Scott if anyone is interested. 10/7/09
I spoke to Judge Long again this afternoon to get the latest. He says it should go to his law clerk for final proofreading tomorrow and once anything that may need editing is edited, the decision will go out. It could conceivably happen by Friday, but certainly next week, probably early in the week. Sorry for the further delay but it's out of my hands. I'm just trying to give you an honest answer.
Sincerely,
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
Land Court Department of the Trial Court
226 Causeway Street
Boston, MA 02114
I spoke to Judge Long again this afternoon to get the latest. He says it should go to his law clerk for final proofreading tomorrow and once anything that may need editing is edited, the decision will go out. It could conceivably happen by Friday, but certainly next week, probably early in the week. Sorry for the further delay but it's out of my hands. I'm just trying to give you an honest answer.
Sincerely,
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
Land Court Department of the Trial Court
226 Causeway Street
Boston, MA 02114
Thanks for the help - we're still hoping we get back in, but at least this should open the market back up again.
Blown away, I'm at petersaber at hotmail
And I'll will gladly do the same - if there's any info I can help provide to anyone feel free to reach out and ask once I know what's happening.
Blown away, I'm at petersaber at hotmail
And I'll will gladly do the same - if there's any info I can help provide to anyone feel free to reach out and ask once I know what's happening.
I would love to hear from you if you get any information from the Title Insurance company once this decision is out! Thanks! Peter
sunfighter57 at yahoo dot com
sunfighter57 at yahoo dot com
If you have not seen the report in Boston Globe today on this issue, here is the link:
boston.com/business/articles/2009/10/09/title_troubles_leave_some_foreclosure_sales_in_limbo/
I saw the Globe correspondents message on this blog with his contact details. I think the entry was here only for few minutes before it was removed. Hope Long will make his decision sooner.
boston.com/business/articles/2009/10/09/title_troubles_leave_some_foreclosure_sales_in_limbo/
I saw the Globe correspondents message on this blog with his contact details. I think the entry was here only for few minutes before it was removed. Hope Long will make his decision sooner.
I just read the article in the Globe, and it is misleading, especially the opening paragraph! These foreclosures have ALREADY been invalidated by the March 26th ruling from Judge Long as we all know. I don't think the writer of this article is very well informed. What we hope happens with Judge Long's upcoming decision is that it will allow the foreclosures that were done before March 26th to go through, and force the Banks to do their paperwork properly from now on.
For those of us holding our breathe, there will be no decision till next week:
I'm told the decision will not issue today, but early to mid next week at the latest seems rather certain. We're closed Monday for Columbus Day but you can write on Tuesday and I can let you know which day it will be going out. Looks like we're there.
Thank you for forwarding the Globe article. I heard all about it this morning from the judge and I appreciate you sending me a copy so I can read it.
Have a nice weekend.
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
I'm told the decision will not issue today, but early to mid next week at the latest seems rather certain. We're closed Monday for Columbus Day but you can write on Tuesday and I can let you know which day it will be going out. Looks like we're there.
Thank you for forwarding the Globe article. I heard all about it this morning from the judge and I appreciate you sending me a copy so I can read it.
Have a nice weekend.
Scott
Scott A. Smith
Sessions Clerk to the Honorable Keith C. Long
I have read all of your posts and I feel your pain.
I am in a little different situation. I never heard of any of this until I received a call from my attorney last friday when I was suppose to close on a re-fi of a forclosure I bought and closed on last November.
I am now watching this very closely to see where it goes.
I am in a little different situation. I never heard of any of this until I received a call from my attorney last friday when I was suppose to close on a re-fi of a forclosure I bought and closed on last November.
I am now watching this very closely to see where it goes.
Hi Everyone!
According to Scott, Judge Long's decision should be out tomorrow! Keeping my fingers crossed! Peter
According to Scott, Judge Long's decision should be out tomorrow! Keeping my fingers crossed! Peter
The decision is out today. If anybody wants to comment for a story to be published in The Boston Globe, I can be reached at,
Jenifer McKim
[E-mail address deleted as per forum rules. Thanks.]
Jenifer McKim
[E-mail address deleted as per forum rules. Thanks.]
THE DECISION IS OUT. I have forwarded same to those whose email address I have! If you did not receive it, please email me at nestaone at comcast dot net and I will forward same to you. It is lengthy and somewhat difficult to read. I have forwarded to several Attorneys (including myself!) for review and interpretation. Unfortunately, it does not look good, may be some loopholes, but I think this decision is going to cause some Title Ins. companies to go under....trickle down impact!
Once we have peeled through it, will post our opinions on same. I know some of you are also Attorneys and would appreciate any input you may have on this situation.
Best!
Once we have peeled through it, will post our opinions on same. I know some of you are also Attorneys and would appreciate any input you may have on this situation.
Best!