n law, a case can be dismissed two ways: one is without prejudice, which means that the plaintiff can bring a new case on the same matter up until the statute of limitations runs out; the other way, “with prejudice” means that the plaintiff can never bring that case again (unless an appeals court overturns the with prejudice designation). It’s like those spy thriller movies when assassins are told to terminate a target with extreme prejudice, a/k/a kill the target. To dismiss a case with prejudice kills the case.
This is bad news for banks and securitized mortgage trusts with sloppy paperwork, which I’m told pretty much describes most of those mortgage backed security trusts.
So, judges in Florida are getting clued in. Judges in Massachusetts are getting clued in. Judges in the great state of New York (OK, I’m a bit biased) are doing the heavy lifting on figuring this out. How about the rest of you? Got any cases in your home state that we should know about? Are judges in your home state starting to understand that foreclosures should be carefully scrutinized and not rubber stamped?
Foreclosure Law News: Terminate with Extreme Prejudice FireDogLake
