Legal Question in Real Estate Law in California
Is there a viable defense against foreclosure of securitized loans? Since the original lender has been paid and the investor does not have the standing to state a claim, there is no actual damaged party who can foreclose. I am seeking an attorney who would take this approach (or similar) to defending a house in foreclosure in El Dorado County, California.
1 Answer from Attorneys
I think you are wrong in stating the investor [purchasers of the original deed of trust] lacks standing. When they buy the Note they also purchase all the rights the original lender had, including the right to foreclose. If your position were correct, no one would buy mortgages as they have no security or right to sue.
If you still feel that you ae correct, I suggest you re-post the question but with an explanation as to why the investor has no standing.
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