News is just breaking that the Supreme Judicial Court has ruled against Wells Fargo and U.S. Bancorp in the Ibanez case. The court ruled against two specific foreclosures, but the decision has far-ranging implications for potentially thousands of foreclosures in Massachusetts. The case goes to the heart of ownership of foreclosed properties and sloppy bank processes for transferring titles. Unfortunately as the robo-signer issue shows, that “sloppy” process was widespread. Here’s the quote you need to know:

“If you own a foreclosed home with an “Ibanez” title issue, I’m afraid to say that you do not own your home anymore. The previous owner who was foreclosed upon owns it again.”–Richard Vetstein, Massachusetts Real Estate Law Blog.

This is stunning stuff. Vetstein’s blog has a quick overview of his opinion on the ruling, here are the links to that and related stories.

  • Ibanez Foreclosure Ruling Upheld: An Indictment Of The Securitized Mortgage System (Massachusetts Real Estate Law Blog)
  • SJC ruling may void thousands of foreclosures (Boston.com)
  • Mass. court rules against banks in pivotal mortgage case (Boston Herald)
  • Banks Lose Pivotal Massachusetts Foreclosure Case (Bloomberg)

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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