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Cosajay v. MERS - Homeowners Have the Right to CHALLENGE Assignments

July 12, 2015

By Attorney John Ennis

A Watershed Moment in Foreclosure Battle: Judge McConnell Hailed as Savior to Thousands of Downtrodden Homeowners

Federal Court Judge John J. McConnell issued a decision in the Cosajay v. MERS case this week. This case provides the plaintiffs with an opportunity to over-turn thousands of home foreclosure cases and will be viewed as a watershed moment in foreclosure law. Judge McConnell's decision in the case puts to bed once and for all the contention that homeowners have no right to challenge fraudulent assignments appearing in their chain of title.

In the 11 page decision, he wrote, in part:

“The Court DENIES Defendants’ Motion to Dismiss (ECF No. 5) and finds that Ms. Cosajay has standing to bring this lawsuit against Defendants … the Court finds that Rhode Island law provides that same dual ideas basis for deviating from the general contract rule … Therefore, the Court finds that Rhode Island law provides that same protection to mortgagors in the same situations in which the first circuit found the Culhane and Woods plaintiffs under Massachusetts law.”

This ruling will impact not only every foreclosure case filed in Rhode Island Supreme Court, but also every foreclosure case across the country. “By far, this is the biggest decision concerning home foreclosure by a judge in the country in recent years.” said Attorney Babcock. “Judge McConnell took one swoop of his pen and changed the outcome of thousands of home foreclosure cases”

Over the last five years the issue of whether or not a plaintiff (homeowner) can sue a defendant (a lender) has been challenged at every step of the ongoing home foreclosure battle. This ruling by McConnell will bring a new perspective to every home foreclosure case ruling thus far in the Rhode Island Courts, and reinvigorates homeowners resolve to continue fighting the bank and mortgage servicers.

“As a result of the visionary decision by Judge McConnell, today is a new day in home foreclosure law.”

 

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Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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