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Bank wins in appeal of foreclosure action

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The Indiana Court of Appeals affirmed summary judgment in favor of Wells Fargo on its action to foreclose on a mortgage and collect from the guarantor of the loan, ruling that the loan documents were properly assigned to the bank.

In the summer of 2006, Riviera Plaza Investments, by Haresh Shah, executed and delivered a note by which it promised to pay Citibank the sum of $2,925,000 in monthly installment payments of principal plus interest. On the same date, Riviera, again by Shah, executed a mortgage in order to secure the payment of the note. Shah executed a guaranty in favor of
Citibank.

Riviera failed to make the scheduled monthly payments on the note, which led to Citibank initiating foreclosure proceedings against Riviera in 2010. Citibank sold the loan documents at issue to Nova Investments, which later assigned them to Wells Fargo during the course of this foreclosure action.

The trial court ruled in favor of Wells Fargo with regard to Riviera and Shah, and entered a decree of foreclosure in July 2013.

Appellants claim that the trial court erred in ruling in favor of Wells Fargo because Wells Fargo failed to prove a valid assignment of the loan documents, but the designated evidence shows that Citibank assigned its right, title and interest in the note and mortgage to Nova, which in turn assigned those to Wells Fargo, the COA held in Riviera Plaza Investments, LLC and Haresh Shah v. Wells Fargo Bank, N.A., 02A03-1308-MF-323.

The judges also rejected Riveria and Shah’s claims that the trial court erred in finding Wells Fargo was entitled to recover from the appellants; that the assignment of the loan documents did not constitute a material alteration which would release Shah from his obligation under the guaranty; and that Wells Fargo was entitled to an award of interest.

Judge Cale Bradford pointed out that the appellants never objected to the substitution of Wells Fargo as the real party in interest and plaintiff on the amended complaint.
 

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  1. Good riddance to this dangerous activist judge

  2. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

  3. I want to post this to keep this tread alive and hope more of David's former clients might come forward. In my case, this coward of a man represented me from June 2014 for a couple of months before I fired him. I knew something was wrong when he blatantly lied about what he had advised me in my contentious and unfortunate divorce trial. His impact on the proceedings cast a very long shadow and continues to impact me after a lengthy 19 month divorce. I would join a class action suit.

  4. The dispute in LB Indiana regarding lake front property rights is typical of most beach communities along our Great Lakes. Simply put, communication to non owners when visiting the lakefront would be beneficial. The Great Lakes are designated navigational waters (including shorelines). The high-water mark signifies the area one is able to navigate. This means you can walk, run, skip, etc. along the shores. You can't however loiter, camp, sunbath in front of someones property. Informational signs may be helpful to owners and visitors. Our Great Lakes are a treasure that should be enjoyed by all. PS We should all be concerned that the Long Beach, Indiana community is on septic systems.

  5. Dear Fan, let me help you correct the title to your post. "ACLU is [Left] most of the time" will render it accurate. Just google it if you doubt that I am, err, "right" about this: "By the mid-1930s, Roger Nash Baldwin had carved out a well-established reputation as America’s foremost civil libertarian. He was, at the same time, one of the nation’s leading figures in left-of-center circles. Founder and long time director of the American Civil Liberties Union, Baldwin was a firm Popular Fronter who believed that forces on the left side of the political spectrum should unite to ward off the threat posed by right-wing aggressors and to advance progressive causes. Baldwin’s expansive civil liberties perspective, coupled with his determined belief in the need for sweeping socioeconomic change, sometimes resulted in contradictory and controversial pronouncements. That made him something of a lightning rod for those who painted the ACLU with a red brush." http://www.harvardsquarelibrary.org/biographies/roger-baldwin-2/ "[George Soros underwrites the ACLU' which It supports open borders, has rushed to the defense of suspected terrorists and their abettors, and appointed former New Left terrorist Bernardine Dohrn to its Advisory Board." http://www.discoverthenetworks.org/viewSubCategory.asp?id=1237 "The creation of non-profit law firms ushered in an era of progressive public interest firms modeled after already established like the National Association for the Advancement of Colored People ("NAACP") and the American Civil Liberties Union ("ACLU") to advance progressive causes from the environmental protection to consumer advocacy." https://en.wikipedia.org/wiki/Cause_lawyering

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