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Liquidation Properties, Inc v. Tina Mosley

December 27, 2012

LIQUIDATION PROPERTIES, INC., C/O AMERICAN HOME MORTGAGE SERVICING, INC., PLAINTIFF-APPELLANT,
v.
TINA MOSLEY, ET AL., DEFENDANTS-APPELLEES.



The opinion of the court was delivered by: Kline, J

Cite as

Liquidation Properties v. Mosley,

DECISION AND JUDGMENT ENTRY

{¶1} Liquidation Properties, Inc., c/o American Home Mortgage Servicing, Inc. (hereinafter "Liquidation Properties")*fn1 appeals the judgment of the Scioto County Court of Common Pleas. This case involves a complaint in foreclosure, but, significantly, Liquidation Properties no longer has an interest in the Appellees' mortgage. As a result, Liquidation Properties lacks standing to challenge the trial court's ruling, and we must dismiss this appeal.

I.

{¶2} On July 21, 2009, Liquidation Properties filed a complaint in foreclosure against Tina Mosley and Tim Mosley (collectively, the "Mosleys").*fn2

{¶3} During summary-judgment proceedings, Liquidation Properties and the Mosleys reached an agreement. The Mosleys agreed that they were in default on the mortgage, and Liquidation Properties agreed not to pursue a sheriff's sale "at any time prior to December 4, 2010[.]" July 9, 2010 Consent Judgment Entry. Liquidation Properties also agreed to "review the loan account upon a positive change [in] Defendants' income and * * * act in good faith to make available any appropriate settlement options." Id.

{¶4} On July 9, 2010, the trial court entered a Consent Judgment Entry based upon the parties' agreement.

{¶5} Eventually, the trial court ordered a sheriff's sale of the property. The Mosleys, however, filed for bankruptcy four days before the sale was to take place.

{¶6} The bankruptcy stay was vacated on May 25, 2011. Then, on June 3, 2011, the trial court ordered another sheriff's sale of the property. The sale was eventually set for August 3, 2011.

{¶7} On June 21, 2011, Liquidation Properties assigned the Mosleys' mortgage to Aspen Shackleton III LLC (hereinafter "Aspen Shackleton"). As a result, on July 5, 2011, Liquidation Properties filed a Notice of Substitution of Plaintiff. This notice states the following:

NOW COMES Plaintiff, by and through its counsel, and hereby moves this Court for a notice substituting Aspen Shackleton III LLC as the proper Plaintiff in this matter. This notice is supported in that the Note and Mortgage which are the subject of this action have been assigned to Aspen Shackleton III LLC. A copy of the assignment of mortgage is attached hereto and incorporated herein[.]

WHEREFORE Aspen Shackleton III LLC is the proper party Plaintiff and should be substituted as Plaintiff herein. The attached Assignment of Mortgage states: For Valuable Consideration, the undersigned, Citi Property Holdings Inc., formerly known as Liquidation Properties, Inc. (Assignor), by these presents [sic] does assign and set over, without recourse to Aspen Shackleton III LLC, P.O. Box 25430, Portland, OR 97298 (Assignee) the described Mortgage with all interest, all liens, any rights due or to become due thereon, executed by Tina Mosely and Timothy Mosely[.]

{ΒΆ8} On July 8, 2011, the Mosleys filed a motion under Civ.R. 60(B). The Mosleys "pray[ed] for relief from the previously entered Consent Entry of July 9, 2010[,] so as to proceed with discovery and trial of this case." ...


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