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Federal National Mortgage Association v. Asar Rameses El (In re Asar Rameses El), BK 12-57090, Doc. #40

The Court ruled that Fannie Mae was entitled to relief from the automatic stay.  This matter was remanded from District Court upon Debtor’s appeal of an Order granting Fannie Mae relief from the automatic stay relating to certain real property.  Fannie Mae, by assignment of a 2006 security deed, held a senior interest to the interest purportedly conveyed to Debtor in 2010.  Fannie Mae foreclosed on its interest prior to the petition date thereby extinguishing all junior interests.  Debtor, therefore, did not have a secured interest in the property.  Debtor also did not have a possessory interest in the property, as Debtor did not reside there.  To the extent that Debtor claimed wrongful foreclosure, the Court did not have subject matter jurisdiction over that claim.

File: 
Date: 
03/07/2013