Can I Challenge My Mortgage Company's Right to Enforce My Mortgage Note, if it was not put in securitized trust before trust closed?

Yes, if you can prove your case, you may be able to.

In a recent decision, U.S. Bankruptcy Judge Marvin Isgur denied a motion to dismiss filed by JPMorgan Chase Bank, N.A. ("Chase") and Deutsche Bank National Trust Company ("Deutsche Bank") in a lawsuit brought against them by Gilberto and Sandra Saldivar.

In it's opinion, the bankruptcy court ruled that New York law governed the transaction, and that if the Saldivars could prove that their loan was not transferred to the securized trust before the trust closed, the transfer was void.

What does this mean? If the Saldivars can prove their case, Chase and Deutsche Bank may not be considered the owners of the loan.

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization