Here is the “word problem”
A document has been recorded bearing the title “Assignment of Mortgage.” The assignee is identified as “U.S. Bank, not on its own behalf but as trustee for the CWABS, Inc. Pass-through Trust Series 2006-A1C, on behalf of the holders of CWABS, Inc. Pass-through Trust Series 2006-A1C Certificates.”
Assume that value has been received by the Assignor in exchange for conveying legal ownership of the alleged underlying obligation due from the subject homeowner.
Assume that there is no issue regarding the legal existence of any entity.
QUESTIONS:
- How many different entities named in the assignment could claim ownership of the mortgage lien?
- Which one has the highest likelihood of establishing the right to foreclose?
- In a foreclosure, which of the entities named in the assignment, if any, will likely receive the cash proceeds from the final liquidation (sale to third party) of the foreclosed property?
All 3 must be answered. Essay answers will not be accepted.
Send answers to neilfgarfield@hotmail.com. The first one to get it right gets a free ticket to the Webinar. If the winner is a homeowner he or she may appoint a lawyer to attend as well at no cost.
Filed under: foreclosure |
You have to be kidding as to the winners second time? We all know those answers. Worthless. No congrats this time. I think Java really won. I think we need NEW judges — Everywhere!!!!!!