REFinBlog

June 14, 2013

Michigan District Court Dismisses Borrower’s Complaint After Failure to Redeem Property within Statutory Period

In Vollmar v. Federal National Mortgage Association, (12-cv-1119, E.D. Mich. 2012), the U.S. District Court for the Eastern District of Michigan, granted the defendant’s motion to dismiss each of the plaintiff’s complaints that sought to invalidate the foreclosure sale of … Continue reading →

May 10, 2013

Michigan Federal District Court Finds that Holder of Unsigned Note Can Enforce

The District Court for the Eastern District of Michigan affirmed the Bankruptcy Court in Mentag v. GMAC Mortgage LLC, No. 12-13350 (Feb. 8, 2013), finding that the holder of the note was entitled to enforce it and has standing to … Continue reading →

April 23, 2013

Cherryland, Very Strange

I looked at the Cherryland decision yesterday. Law360 ran a story (behind a paywall) about it today, quoting me and others.  To recap, the original Cherryland case appeared to unexpectedly open up many commercial borrowers in Michigan to personal liability. … Continue reading →

April 22, 2013

Cherry Bombs in Michigan

An ongoing Michigan state case, Wells Fargo Bank, N.A. v. Cherryland Mall L.P. et al.,  has been generating a lot of heat over an obscure but important issue for commercial mortgage borrowers, the scope of carveouts from standard nonrecourse provisions … Continue reading →

April 7, 2013

Michigan District Court Dismisses Homeowner’s Action to Declare Foreclosure Null and Void

In Olesuk v Fed. Natl. Mort. Assoc., 2:12-cv-11001 (Dist. Ct. Mich. 2012), the court dismissed an action by homeowners against the parties involved in the multiple assignments of their mortgage, including MERS (Defendants). Homeowners brought the action after defaulting on … Continue reading →

The Michigan Eastern District Court Grants MERS and other Defendants’ Motion to Dismiss Because Homeowners Failed to State a Claim

In Safford v. Precision Funding, 09-14925-BC, 2010 WL 548504 (E.D. Mich. Feb. 9, 2010), the court granted Defendants’ motion to dismiss. In August 2004, Jeffrey Safford and Denise Safford purchased their home and obtained a fixed rate mortgage loan for … Continue reading →

March 31, 2013

The Michigan Court of Appeals Holds that Sheriff’s Sale was Invalid because MERS Foreclosed on Homeowner’s Property using Nonjudicial Foreclosure by Advertisement even though MERS was only a Mortgagee

In Richard v. Schneiderman & Sherman, PC, 294 Mich. App. 37, 818 N.W.2d 334 (2011), the Michigan Court of Appeals held that MERS foreclosure by Advertisement was void ab initio. Aaron Richard, homeowner, appealed an order granting summary disposition in … Continue reading →