In an evolution of online payment options, Square is trying to focus us on ACH or debit transactions and away from credit cards. By doing so, the fees to Square are considerably less and a small amount of the savings is being passed on to the consumer (free transactions!) and businesses (1.9% transactions!!).
To CitiMortgage: "The Minnesota Supreme Court is not kidding when it says that the foreclosure‐ by‐advertisement statutes must be strictly construed."
CitiMortgage was reminded by United States District Court Judge Patrick Schiltz today that: "The Minnesota Supreme Court is not kidding when it says that the foreclosure‐by‐advertisement statutes must be strictly construed." The full opinion is here: McGraw v. CitiMortgage, et al., 14-CV-142 (PJS-HB).
In declaring "that the foreclosure sale of plaintiff's property is null and void," Judge Schiltz reasoned that Minnesota law:
"...requires that the foreclosure‐advice notice 'must be in 14‐point boldface type' and that the title of the notice 'must be in 20‐point boldface type.' Citi concedes that the foreclosure‐advice notice that it served on McGraw violated these requirements. True, this error is trivial, and true, this error did not harm McGraw in any way. But that does not matter under the strict‐compliance standard. The foreclosure sale must be invalidated."
Judge Schiltz's footnote: "It is also true that there is no reason why Citi could not have complied with this requirement, which is crystal clear and easily met."
Drewes Law is proud to help struggling homeowners defend their rights. If your or someone you know is facing foreclosure or has recently gone through foreclosures, please call for a free consultation: 612-285-3052.
According to the US Department of Justice (as of 5/15/15), median income in Minnesota, by family size stacks up as follows:
Family of 1: $50,934
Family of 2: $66,566
Family of 3: $81,044
Family of 4: $94,807
Family of 5: $102,907
Family of 6: $111,007
Half of Minnesota families are above that number. Half fall below that number. If you're above that number and are just scrapping by paycheck-to-paycheck without your net-worth (savings) increasing each month, it's time to ask: why?
Compared to global standards, you're probably doing pretty well:
Drewes Law PLLC helps Minnesota consumers better understand their finances by answering questions about debt, mortgages and credit. Feel free to contact a Drewes Law attorney for a free consultation: 612-285-3052.
In an important win for consumers, a November 2013 foreclosure by Nationstar was declared void today on two separate grounds. See full opinion here.
First, the Court ruled that strict compliance is still the standard in federal courts with respect to Minnesota foreclosures by advertisement: "The weight of authority suggests that a mortgagor must strictly comply with foreclosure statutes when executing a sheriff’s sale... Because there is no factual dispute that Defendant did not record the Sheriff’s Certificate within ten days as required by § 580.12, the Court grants Plaintiffs’ motion on this claim and voids the November 14, 2013 Sheriff’s Sale of the Property."
Continuing its reasoning on Minnesota's anti-dual-tracking law, the Court wrote: "The issue is whether Plaintiffs’ incomplete Loan Modification Application triggered Defendant’s duty to halt the foreclosure sale under § 582.043, subd. 6(c)... Having received Plaintiffs’ Loan Modification Application more than seven days in advance of the Sheriff’s Sale, including 'core documents,' a plain reading of the statute counsels that Defendant was obligated to halt the sale. There being no disputed issues of material fact as to Plaintiffs’ § 582.043 claim, the Court grants summary judgment on Count III. "
Drewes Law regularly assists homeowners facing foreclosure or loan modification frustrations. If you or someone you know is facing foreclosure or loan modification, call an attorney today: 612-285-3052.
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