If you have been through bankruptcy get ready.. read the full post by clicking on link to find out the latest rulings in the 9th district circuit.... THIS IS AWESOME
[New post] GAME OVER? VEAL CASE VINDICATES EVERY POINT REPORTED ON LIVINGLIES - Spam - Yahoo! Mail: "The bottom line is that there is no claim, an objection to the proof of claim will obviously be upheld in view of this ruling, and the homeowner is going to get their home free and clear of any encumbrances or debts unless the real creditor shows up --- which is unlikely since the investors are busy suing the investment banks that sold them the bogus mortgage bonds.
LAWYERS ARE SHARPENING UP THEIR PENCILS GETTING READY TO FILE MOTIONS FOR REHEARING AND RECONSIDERATION IN AND OUT OF BANKRUPTCY COURT.
QUOTES FROM THE CASE:
'We hold that that a party has standing to seek relief from stay if it has a property interest in, or is entitled to enforce or pursue remedies related thereto, teh secured obligation that forms the basis of its motion.'
'We hold that a party has standing to prosecute a proof of claim involving a negotiable promissory note secured by real property if, under applicable law, it is a 'person entitled to enforce the note' as defined by the Uniform Commercial Code.'"