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Firm claims 75% of mortgage assignments invalid in Mass. county

A “loan contingency clause”, also known as a “mortgage contingency clause” , is a provision in the home purchase contract that says that if the prospective buyer can’t get a mortgage within a fixed period of time, s/he can call the whole deal off. In other words, the agreement is conditional on the buyer being able to obtain a mortgage on the property.

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To get some of it back he commissioned an audit of 2010 mortgage assignments. 16% of the assignments were valid, 75% were invalid, and 9% were deemed questionable.

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The Appeals Court noted that pursuant to U.S. Bank Natl. Assn. v. Ibanez, 458 Mass. 637, 648 (2011), an entity has the authority to exercise the power of sale in a mortgage if they are the assignee of the mortgage at the time of the notice of sale and the subsequent foreclosure sale, and MERS made such an assignment to Countrywide prior to the.

The Massachusetts court system resembles a pyramid. Cases commence in one of the 7 trial court departments, and are first decided there. Cases are initiated in the particular court which has subject matter and geographic jurisdiction over the issues and parties involved.

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At an initial closing expected to occur on December 22, 2016, which is subject to customary closing conditions, VMware will deliver 75% of the Purchase Amount to EMC in exchange for an initial.

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Brent Yarborough is an attorney with the Birmingham law firm of Zarzaur & Schwartz, P.C., where he practices in the areas of collections, creditors’ rights, commercial litigation, and the defense of consumer. 10-7 or 5-19-15 to protect 75% of their wages and then claim that the Alabama Constitution protects an. assignment from the.

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