Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Carson v. Estate of Golz

United States District Court, D. Colorado

March 13, 2019

BENJAMIN S. CARSON, Secretary of Housing and Urban Development, Plaintiff,
v.
ESTATE OF VERNA MAE GOLZ, WILLIAM J. GOLZ, MARCUS J. GOLZ, MATTHEW J. GOLZ, and UNKNOWN HEIRS AND CLAIMANTS OF THE ESTATE OF VERNA MAE GOLZ, Defendants.

          RECOMMENDATION OF UNITED STATES MAGISTRATE JUDGE

          Michael E. Hegarty United States Magistrate Judge.

         Before the Court is Plaintiff's Motion for Summary Judgment [filed December 12, 2018; ECF No. 127]. Following review and consideration of the motion, briefs, and attached exhibits, the Court respectfully recommends that the Honorable R. Brooke Jackson grant the Plaintiff's motion.

         I. FINDINGS OF FACT

         1. The real property at issue in this case is located at 130 Beaver Creek Drive, Nederland, Colorado, 80466, with a legal address of Lot 19, Beaver Valley Estates, County of Boulder, State of Colorado (the “Property”).

         2. On January 18, 2002, Verna Mae Golz entered into a loan agreement (the “Loan Agreement”) with Financial Freedom Senior Funding Corporation (“Financial Freedom”). ECF No. 49 at ¶ 10.6 (undisputed facts); ECF No. 127-1.

         3. Ms. Golz executed a promissory note with Financial Freedom. ECF No. 49 at ¶ 10.7; see also ECF No. 127-2.

         4. Ms. Golz executed a promissory note with the Department of Housing and Urban Development (“HUD” or “Plaintiff”). ECF No. 49 at ¶ 10.7; see also ECF No. 127-3.

         5. The First Note is secured by a deed of trust naming Financial Freedom as the beneficiary (the “First Deed of Trust”). ECF No. 49 at ¶ 10.8; see also ECF No. 127-4.

         6. The Second Note is secured by a deed of trust naming the Secretary of HUD as the beneficiary. ECF No. 49 at ¶ 10.8; see also ECF No. 127-5.

         7. The Deeds of Trust encumber the Property and were recorded with the Boulder County Clerk on January 26, 2002 as Record Nos. 2246751 and 2246752, respectively. ECF No. 49 at ¶ 10.8; see also ECF Nos. 127-4, 127-5.

         8. In December 2011, the mortgagee servicer (OneWest Bank FSB, parent company of First Financial) submitted an insurance claim to HUD under the provisions in 24 C.F.R. § 206.123(a)(1) and § 206.107, which allow a lender to submit a claim if the loan balance exceeds 98% of the maximum claim amount. ECF No. 127-6 at 9.

         9. In December 2011, HUD paid out $242, 013.06 on the insurance claim for Ms. Golz's loan. ECF No. 127-7.

         10. Financial Freedom then assigned the First Note to HUD. See ECF No. 127-2 at 3.

         11. The First Deed of Trust was also assigned to the Secretary of HUD. ECF No. 49 at ¶¶ 10.9, 10.10; see also ECF No. 127-8.

         12. HUD holds the Notes and Deeds of Trust. See ECF Nos. 127-2 - 127-5; ECF No. 49 at ¶¶ 5, 10; ECF No. 64 at ¶ 1 (admitting allegation (ECF No. 31 ¶ 1) that HUD “brings this foreclosure action as the holder of promissory notes and deeds of trust on the property”).

         13. There are no other encumbrances on the Property and HUD is the only lienholder. ECF No. 49 at ¶ 10.5.

         14. Ms. Golz passed away on May 16, 2014. ECF No. 49 at ¶ 10.11.

         15. The Notes and Deeds of Trust provide that the loan balance becomes immediately due and payable upon Ms. Golz's death. ECF No. 127-2 at ¶ 7; ECF No. 127-3 at ¶ ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.