It seems that David Stern’s problems keep adding up as more allegations of fraud are brought against his firm. His firm has been accused time and time again of falsifying documents that must be filed with foreclosure lawsuits. Now, one of Stern’s files may make it all the way to the Florida Supreme Court. This case reminds us of the recent Massachusetts Supreme Court decision throwing out a case in which the bank could not prove its ownership of a mortgage after it was securitized.
We’ve discussed multiple times how many mortgages over the past few years were assigned to other banks. In order for an assignment to be valid, the banks must record the assignment in a County’s land records. Without recording such an assignment, there’s no possible way of identifying with certainty the true holder of a mortgage and the accompanying note.
Whenever this proof does not exist, a Court should not allow a lender to foreclose on a property. This is why many foreclosure cases are being voluntarily dismissed throughout Florida – lenders simply don’t have the proof that they own a mortgage.
Unfortunately, it seems David Stern’s law firm may have falsified its “proof” of an assignment in a case that is headed to the Florida Supreme Court. At first, the foreclosure complaint was filed without the assignment attached. Later, Stern’s office filed an amended complaint which attached an unrecorded assignment that was dated right before the original pleading was filed. The bank eventually dropped the case, but later re-filed with different documents.
However, this is not the first time this happens. As a matter of fact, it is a regular occurrence. Nevertheless, only an experienced attorney will catch these small details which may be proof of fraud.
Our Miami foreclosure defense lawyers have assisted many homeowners in buying enough time to reach the solution that is right for them. There are many alternatives to foreclosure, and often times it just takes proper planning to properly navigate against the potential pitfalls. Help is often available to those who seek it.
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