Legal News for Credit Union Managers Since 1990

Archive for March, 2020

02
Mar
2020

Credit Union’s Erroneous Legal Description Defeated Mortgage Enforcement

An Erroneous legal description in a Credit Union mortgage was fatal to enforcement of mortgage. Here, Electric Boat Community Federal Credit Union (EBC), granted a loan to Louis Salerno (Salerno) that was supposed to be secured by a mortgage on the debtor’s real estate. In the mortgage document, however, the credit union inadvertently identified the real estate […]

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