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Cervantes v. Countrywide Home Loans, Inc. (9th Cir. 2011) Page 7: In the event of a default on the loan, the lender may initiate foreclosure in its own name, or may appoint a trustee to initiate foreclosure on the lenders behalf. However, to have the legal power to foreclose, the trustee must have authority to act as the holder, or agent of the holder, of both the deed and the note together. See Landmark Natl Bank v. Kesler, 216 P.3d 158, 167 (Kan. 2009). The deed and note must be held together because the holder of the note is only entitled to repayment, and does not have the right under the deed to use the property as a means of satisfying repayment. Id. Conversely, the holder of the deed alone does not have a right to repayment and, thus, does not have an interest in foreclosing on the property to satisfy repayment.

Woman fighting cancer and bank finds reason to smile In August, Wells Fargo told NBC Charlotte that Cindi's home wasnt in active foreclosure and no one had asked her to leave. But then, just two weeks later, a deputy served her with papers from the bank saying her house would be sold at the courthouse just six days before Christmas.

Gov. Christie says foreclosure aid fell short Gov. Chris Christie conceded Monday the state made mistakes with a $300 million program to help residents facing foreclosure stay in their homes The New Jersey Home-Keeper program approved an average of eight grants a month for the first seven months of its existence last year. The fund should be approving 250 a month, a goal the state expects to reach by the end of

Romney's [foreclosure / housing] plan in 3D In January, the Mitt Romney campaign chose this quiet neighborhood in Lehigh Acres, Fla., just to the east of Cape Coral and Fort Myers, to give some of the first insight into how the eventual Republican nominee would combat a foreclosure crisis still raging five years after the housing meltdown. Youre wondering whats going on behind me

Couple Arrested for Loan Modification and Foreclosure Rescue Scheme Martin Wayne Flanders, 48, and Ligia Sandoval Spafford, 46, of Roseville, were arrested on Monday on a complaint charging them with orchestrating a fraud scheme targeting distressed homeowners, U.S. Attorney Benjamin B. Wagner announced. Flanders was also charged with conspiracy to commit bankruptcy fraud.

Nevada foreclosure rate is back on the rise, report says Nevada was fifth-worst in the country in August for its volume of distressed real estate, with 1 in 402 homes in foreclosure, according to a report today from Irvine, Calif.-based research firm RealtyTrac. The state was No. 6 in July with 1 in 415 homes in foreclosure.

ABA Summarizes Pending Mortgage Reform into 2013, "Critical to Lenders" The American Bankers Association (ABA) has reminded its members and others in the industry that the next few months are critical to lenders because of an even dozen new rules and regulations that are pending. Comment periods are still open on some of the changes.

Banks prep lending facilities for foreclosurerental bonds At least seven investment-bank lenders are getting set to roll out the first round of balancesheet term financing to a handful of private equity and real estate firms looking to buy foreclosed US single-family homes and convert them to rentals.

CA Central Valley remains submerged in the mortgage sea More than one out of five (22.3 percent or 10.8 million) homes in the U.S. with a mortgage were in negative equity at the end of the second quarter of 2012, according to a new report Wednesday from financial information company CoreLogic Inc.

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