justia.com | November 6, 2015
|Court: Maine Supreme Judicial Court Citation: 2015 ME 141
||Opinion Date: November 5, 2015
|Areas of Law: Banking, Real Estate & Property Law
A Bank filed a residential foreclosure complaint against Appellant, alleging that Appellant executed a promissory note and a mortgage securing the note on certain property and that Appellant defaulted on the note. The Bank claimed that, through a series of endorsements and assignments, the Bank had acquired rights in the mortgage and authority to enforce the note. The trial court entered a judgment in Appellant’s favor, concluding that the Bank failed to provide Appellant with a statutorily-complaint notice of the default and of his right to cure. The court then prospectively reserved to the Bank the right to relitigate a second foreclosure action. The Supreme Court vacated the portion of the judgment reserving to the parties the right to relitigate all issues in a future foreclosure action, as the trial court entered a final judgments on the merits in favor of Appellant, and there was no special reason identified for affirmatively reserving the parties’ rights to relitigate. The Court affirmed the judgment in all other respects.
Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager
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