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Response To Lis Pendens Foreclosure Complaint
The bank, in its original complaint, must lay out a number of issues and prove certain elements of its case to the court. For example, the bank must show that it has a legally binding contract with the homeowners, that the bank performed its end of the contract as agreed, the homeowners breached the contract, and that because of this breach the bank has suffered actual damages. If the bank fails to make its case on any one of these points, it may not be able to prove it is entitled to foreclosure of the house.
Recently, one defense against a certain element of the banks case has becoming increasingly popular. Since the bank must prove that it has the promissory note between itself and the homeowners, some borrowers have used this to challenge the lenders ownership of the mortgage loan. If the lender can not show that it owns the loan, there exists no contract between the two parties, and the bank can not sue for foreclosure.
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