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Rubenstein Business Law Successfully Saves Client's Home From Foreclosure

October 15, 2015

 

To keep our clients and friends abreast of how we help our clients, below is a recent example:
 

One of the ways Rubenstein Business Law (RBL) protects its clients is to think outside the box for solving their legal problems. Recently, RBL represented a New Jersey homeowner who was forced into foreclosure by Bank of America. The large bank, represented by prestigious firm Winston & Strawn, sought to foreclose on the home. 

 

Winston & Strawn filed a Motion for Summary Judgment prior to the completion of discovery in order to obtain a quick judgment against the home owner which would have forced the client to surrender her home to the bank. 

Rubenstein Business Law defended the home owner by demonstrating to the court that Bank of America lacked standing to foreclose. Although the homeowner had originally obtained her loan with American Partners Bank, Bank of America insisted that it acquired the home owner's loan via assignment by American Partners Bank in 2011. 

 

Yet, RBL researched the history of American Partners Bank and learned that the FDIC closed the bank in 2010. American Partners Bank could not have assigned the loan in 2011 since it ceased to exist.  Therefore, Bank of America's claim that it obtained ownership of the home owner's loan from American Partners Bank in 2011 was an impossibility. 

The New Jersey Superior Court agreed with Rubenstein Business Law and denied Winston & Strawn's Motion for Summary Judgment which would have left the firm's client homeless. Feeling unsatisfied with the result, Winston & Strawn subsequently filed a Motion for Reconsideration, which was again denied by the New Jersey Superior Court. 

 

Ultimately, Rubenstein Business Law's client retained ownership and possession of her home with a favorable settlement. 

These events demonstrate Rubenstein Business Law's commitment of leaving no stone unturned in protecting its clients and preserving their assets.

 

Image courtesy of Stuart Miles at  freedigitalphotos.net.

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