“No Foreclosure For You!”
The good news is we’re starting to see more and more foreclosures reversed or not granted in the first place. The bad news is not nearly enough consumers 
are actually defending their cases. While it’s hard to know exactly what those numbers are, my review of local foreclosure filings reveals that a majority of consumers just ignore the filing of the foreclosure suit….or, worse, they enter into a modification with a bank that just might not have any real authority to pursue the claim.
Well, in this case we see why pursuing these kinds of claims….for all consumers…is so critically important:
A federal judge in New York tossed out the claims of a vulture investor against the couple, who were represented by attorney Linda Tirelli. Investor Craig Marx failed to show a correct chain of title, or transfer of ownership, from the original lender through to the Florida hedge fund that sold the couple’s mortgage debt to Marx.
“That’s a fatal problem,” said Judge Robert Drain.
The court win for this couple — who asked that their names not be used — came after a five-year struggle to learn who owned their debt and to fight dubious claims. Seven years into the foreclosure crisis, shoddy if not fraudulent mortgage documents continue to wreak havoc on ordinary New Yorkers and investors alike.
“The financial industry has devastated the US title recording system,” said attorney Tom Cox. “Titles are interrupted and open to doubt.”
