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Loan Lawyers Wins Case Against JP Morgan Chase

Congratulations to Matthew Bavaro and Laura Hoy for winning a foreclosure appeal from the Fourth District Court of Appeals today. This was a foreclosure case filed by JP Morgan Chase Bank. The promissory note was payable to Chase Bank USA. So while these two corporate names sounds familiar, they are two separate corporations. After trial, we moved for involuntary dismissal because the Plaintiff JP Morgan Chase never proved that it had any connection to this loan. The bank argued that one is the servicer for the other, so that should be good enough and that further, one is the wholly owned subsidiary of the other so it is essentially the same thing. The trial court agreed with the bank and entered a final judgment of foreclosure.

Fortunately, the appellate court agreed with Loan Lawyers and reversed the trial court. The court found that the fact one entity is a wholly owned subsidiary of another is wholly irrelevant. A party who is suing for foreclosure must still prove that they have standing (the legal right to foreclose). The appellate court found that the bank never proved it was the owner or holder of the loan nor did they prove that they were the servicer of this loan. The bank actually asked the appellate court to consider a document that they never even put into evidence in the trial. This argument was shot down by the appellate court as well.

You can read the opinion for yourself here.

Another home saved from the wrecking ball by Loan Lawyers. If you, or someone you know, are facing foreclosure, call Loan Lawyers today for your free consultation with one of our foreclosure defense lawyers in Broward, Miami-Dade, or Palm Beach.