Full question:
Bank A assigned loan & mortgage to Bank B. Bank A had started legal foreclosure before assignment. Bank B never recorded its new interest but continued the foreclosure suit under the now-non-existant Bank A's name. How can I get judgment vacated?
- Category: Real Property
- Subcategory: Foreclosure
- Date:
- State: Pennsylvania
Answer:
Standing is the ability of a party to bring a lawsuit in court based upon their stake in the outcome. A party seeking to demonstrate standing must be able to show the court sufficient connection to and harm from the law or action challenged. Otherwise, the court will rule that you "lack standing" to bring the suit and dismiss your case. If a lender sells or assigns the mortgage, then the purchaser or assignee of the mortgage takes the place of the lender with regard to the right to receive payment from the borrower or, if necessary, enforce the security interest and foreclose on the property.
The answer will depend on all the circumstances invovled and the reason for asking to vacate the judgment. We are prohibited from giving legal advice, as this service provides information of a general legal nature. We suggest you contact a local attorney who can review all the facts and documents involved.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
