Show Me the Note Argument Thrown Out in Arizona Foreclosures
May 29, 2012
In Hogan v. Washington Mutual Bank, N.A. et al, the Arizona high court has dismissed the show me the note claim in foreclosure litigation, throwing out a legal argument often used to block an impending foreclosure. We granted review to decide whether a trustee may foreclose on a deed of trust without the beneficiary first having to show ownership of the note that the deed secures, explained Arizona Supreme Court Chief Justice Rebecca White Berch. We hold that Arizonas non-judicial foreclosure statutes do not require the beneficiary to prove its authority or...