"So-called toxic titles created by the packaging of multiple mortgages into securitized bundles for resale to multiple investors have raised legal questions nationwide about who actually owns homes in foreclosure and what procedure is required to transfer title to the mortgage lender.

Recent legal decisions across the country have held that defective proof of ownership could derail a foreclosure. Such decisions have put the ownership rights of some who have already purchased foreclosed homes in limbo, and have raised substantial legal issues in the pending foreclosure litigation process as lenders attempt to deal with the mess they have created over the documentation of ownership of the note and mortgage.

The process of securitizing mortgages on homes throughout the country required complicated and time-sensitive multiple transfers of the note and mortgage. In some cases a legal fiction was created around trusts and other holding vehicles that never acquired provable ownership of the notes in question. In many cases, the securitization process separated the Note from the mortgage. In their rush to institute foreclosures, loan servicers often have not properly acquired the ownership rights or authority necessary to bring the foreclosure action. In other cases, the securitization process has confounded the ability of anyone to determine who owns the Note such that any foreclosure would be impossible. Often the original lender may only be suing for foreclosure as a loan servicer acting on behalf of some un-named (and sometimes "unknown") note holder. Loan Servicers only have the authority to foreclose that does or doesn't belong the actual owner of the note and mortgage.

It has thus become increasingly important for borrowers faced with foreclosure or in danger of becoming delinquent to become very knowledgeable about the answers to some crucial questions before embarking upon mortgage work-out solutions such as mortgage modification, short sale or foreclosure defense. These questions include:

Seeking legal advice from a knowledgeable and experienced foreclosure defense attorney is more important than ever for homeowners facing foreclosure.  The issue of standing is complicated, fact-specific and needs to be properly raised and argued to the Court. If properly and uniformly advanced and proven, the standing defense could cause thousands of pending cases to be dismissed.

The foreclosure defense lawyers at Charlip Law Group, LC are uniquely experienced to raise all applicable foreclosure defenses on your behalf. Charlip Law Group, LC has carefully structured a comprehensive defense oriented approach to gain timely answers to the questions posed above while at the same time exerting pressure on the lender to reach a negotiated solution that satisfies our clients' interests and financial capabilities. Charlip Law Group, LC's legal assistance is affordable and available to clients on any budget.

Further, since many states recognize that the issue of Jurisdiction can be raised by a party in a lawsuit at anytime, it often will not matter whether the foreclosure process has already been started or if a final judgment of foreclosure has already been entered. Nevertheless, the best time to contact and retain legal counsel is before you ever go into default. All too often clients facing a cash flow problem they have no way out of continue to pay their mortgage for months beyond what is logical and necessary. Such payments are often the difference between obtaining competent legal counsel with cost-effective solutions to solve the foreclosure problem and being in a no-win position where the client is forced by financial inability to concede the lender's position without first obtaining any facts or understanding of their true legal rights and position.

Charlip Law Group, L.C. legal practice is focused on foreclosure and business-related litigation and transactions and personal injury. Our practice areas include banking, class actions, commercial litigation, construction, employment, family law (divorce), mortuary/funeral law, nursing home law, products liability, property, real estate, serious injury/death, securities law and subrogation litigation. Our law firm offers clients a bi-lingual staff, a variety of fee arrangements and a sincere dedication to your needs. To learn more about the history of our firm and attorneys feel free to contact us directly at our Hollywood, Florida offices: 954-921-2131 or toll free 1-800-773-1955.