Key Ruling Made Regarding Standing and Foreclosure: 9th Circuit

Things are looking up in the Adversarial Proceeding.  A key decision, Veal v. American Home Mortgage Servicing Inc. (AHMSI) has resulted in a decision which upholds the requirement of the mortgage servicer to show that they have standing in order to get the Automatic Stay from a bankruptcy.

This is a very important ruling for me, personally.  My bankruptcy is within the 9th Circuit, and it is helpful, if not critical, that the legal precedent being used comes from the same Circuit court.

The important issue here is that the Court has ruled on the centrality of Assignments of the Note, and how that that relates to standing of the foreclosing party (AHMSI) to get the Automatic Stay.  The takeaway message here is the the 9th Circuit has ruled on the importance of standing, and my lawsuit depends on that.  It’s possible that I will be the first suit in the 9th Circuit regarding standing to foreclose itself.

The Veal case is complicated and I will review carefully and continue in my next post.

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