IndyMac got IndySMACK Down via Hon. Samuel J. Bufford!

From BMcDonald

This is a bankruptcy case in which IndyMac Bank wanted relief of stay so they could proceed with a foreclosure. The judge ordered them to produce the original note and deed, which they did but ended up having to admit they didn’t own them. This judge Bufford goes into great detail about the issues of “party in interest” and “real party in interest” and who has the right to foreclose. Only a party with a real investment in the property has a right to collect on the debt.

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