cloudy
Friday May 27th, 2016 10:18AM

Bank gets favorable ruling in case out of Suwanee

By Derreck Booth Anchor/reporter
ATLANTA - In a unanimous decision, the Supreme Court of Georgia Monday ruled in favor of a bank in connection with a foreclosure sale and eviction in Suwanee.

The house buyers, Chae Yi You and Chur K. Back, defaulted on their loan and were ultimately evicted in 2011, according to the court. They had argued Chase Manhattan Mortgage didn't have authority to evict them or sell the house because it didn't hold the promissory note at the time.

The security deed from the original lender, Excel Home Loans, was assigned to Chase.

You and Back had argued Chase didn't have authority to evict them or sell the house because it didn't hold the promissory note at the time.

"After careful analysis, we conclude that current law does not require a party seeking to exercise a power of sale in a deed to secure debt to hold, in addition to the deed, the promissory note evidencing the underlying debt," the opinion stated.

The decision was written by Chief Justice Carol Hunstein.

The high court also found that the Georgia law that governs the type of notice that must be given to the debtor, "requires only that the notice identify 'the individual or entity (with) full authority to negotiate, amend, and modify all terms of the mortgage with the debtor.'"

You and Back bought the house on Crescent Walk Lane in 2003.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Missing Ga. bank director arrested in Brunswick
A bank director accused of losing millions of investors' dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in south Georgia.
7:00PM ( 2 years ago )
S&P 500 index has its best year since 1997
The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.
6:56PM ( 2 years ago )
Colorado readies for 'Green Wednesday' pot sales
Police were adding extra patrols around pot shops in eight Colorado towns that plan to allow recreational sales to anyone over 21 on Jan. 1.
1:52PM ( 2 years ago )
Business News
Sex offender held in Hall County for failing to register
A 47-year-old man was booked into the Hall County Jail Tuesday, being held without bond for allegedly failing to register as a sex offender, his second such arrest.
6:09PM ( 2 years ago )
Pharmacy robberies may involve same suspect
Oakwood Police Tuesday afternoon released details in a pharmacy robbery they're investigating, similar to one that happened in the Hall County Tuesday morning.
5:46PM ( 2 years ago )
Victim critical following apartment fire
A 41-year-old woman was in critical but stable condition Tuesday after being rescued from an apartment fire in Forsyth County late Monday afternoon.
3:16PM ( 2 years ago )
Local/State News
Hall school tax increase in the works; public hearings scheduled
The Hall County Board of Education Friday announced its intention to increase the property taxes it will levy this year by 1.08 percentage over the rollback millage rate.
By AccessWDUN staff
10:10AM ( 8 minutes ago )
Three people displaced by Spring Road fire in Hall County
A mobile home on Spring Road in Hall County was destroyed by fire early Friday morning.
6:43AM ( 3 hours ago )
Arrest made 4 years after Monroe banker found dead in well
An Athens man has been arrested on murder charges more than four years after his business partner's body was found in a well.
By Associated Press
5:16AM ( 5 hours ago )
AUDIO: Legal expert discusses federal lawsuits levied by eleven states over transgender bathroom policies
Georgia recently joined ten other states in deciding to sue the federal government over policies that would allow transgender students to use the school bathroom of their choice. Legal expert Byron Henry joined the Afternoon News Wrap this week to discuss how the battle may shake out once the dust has settled.
By Afternoon News Wrap
10:27PM ( 11 hours ago )
Hall Commissioners concerned smaller houses could lead to bigger issues
Hall County Commissioners have asked county staff members to help them get ready for the potential arrival of a “reality-TV reality” in Hall County.
9:41PM ( 12 hours ago )