Remember that Fannie Mae is “Always The Owner, Holder of The Note“, since it now “holds” the mortgage thanks to MERS’ assignments that can pop up in any moments notice.

KTVZ-

BEND, Ore. — A Bend man whose home was foreclosed upon the very day his son came home on leave from the Iraq war zone remains in the home. But after two months of legal limbo, he filed a federal lawsuit Thursday against J.P. Morgan Chase Bank, seeking at least $250,000 in damages, enough to recover his home, and an injunction against any eviction notice.

The 26-page complaint seeks “equitable redemption due to wrongful foreclosure” and also accuses the bank of breach of contract and unlawful debt collection.

Collette bought the Bend home in 2006 with a $127,000 down payment. When his small flooring and countertop business was hurt by the economic downturn, he contacted Chase for help.

[KTVZ]

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On the same day Tim Collette welcomes his soldier son back for leave from Iraq, he loses his Oregon house to foreclosure. But unlike many homeowners, Collette is fighting back.

LA TIMES –

Reporting from Bend, Ore.

For months, since he knew his son Aaron would be coming home for two weeks’ leave from Iraq, Tim Collette has been desperate to make sure there would be a home to come back to.

But on Tuesday, two things happened. First, a foreclosure auctioneer with a blue clipboard stood on the steps of the Deschutes County Courthouse, as Collette watched in silence a few steps below, and transferred the house back to the bank.

[LA TIMES]