Awhile back, I was informed that there was a concept where one could take advantage of the BK federal rules to object to a foreclosing party’s proof of claim. At that point, the debtor would challenge their beneficial authority to claim the default and then to enact the power of sale. The idea was the debt buyer had to provide proof that they are the legal beneficiary of the debt.
Does anyone know if there was any progress with the test cases?
It was some time ago, several months at least, that Bill G. had two or three cases he was pursuing using this basic idea, that it to employ the Federal Bankrupcy Court to convert the lien to unsecured. Haven’t heard anything since.
Bye the way, who is Rob Sedler? Maybe he should be contacted?