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Homecomings Financial Network v. Schultz

November 21, 2007

HOMECOMINGS FINANCIAL NETWORK, PLAINTIFF-RESPONDENT,
v.
WAYNE A. SCHULTZ, AND KIMBERLY K. SCHULTZ, HIS WIFE, DEFENDANTS-APPELLANTS, AND UNITED STATES OF AMERICA, STATE OF NEW JERSEY, JOSE SIERRA, PETRONILA SIERRA-CAMPOS, HIS WIFE, FEDERAL DEPOSIT INSURANCE CORPORATION, SUCCESSOR TO RESOLUTION TRUST CORPORATION IN ITS CAPACITY AS RECEIVER FOR NEWTON SAVINGS BANK, FSB, SUMMIT BANK F/K/A/ UNITED JERSEY BANK, FIRST UNION BANK, NA, CANGER & CASSERA, INC., ARZEE SUPPLY CORP. OF NEW JERSEY, ABBINGTON-NEY ASSOCIATES, ALL-STAR TEMPS, INC., BENEFICIAL NEW JERSEY (DOVER), TAYLOR & FRIEDBERG, ESQS., CHASE MANHATTAN BANK F/K/A/ CHEMICAL BANK NEW JERSEY, GREENWOOD TRUST COMPANY, OXFORD RESOURCES CORP. N/K/A/ NATIONSBANC AUTO LEASING, INC., DEFENDANTS.



On appeal from Superior Court of New Jersey, Chancery Division, Morris County, Docket No. F-390-91.

Per curiam.

NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION

Submitted October 29, 2007

Before Judges Graves and Sabatino.

Defendants Wayne A. Schultz and Kimberly K. Schultz appeal from an order dated April 3, 2007, denying their application for relief from a judgment of foreclosure dated May 15, 2002. After reviewing the record and applicable law, we affirm.

On appeal defendants present the following arguments:

POINT I

IT IS THE PUBLIC POLICY OF NEW JERSEY, AS EXPRESSED BY CLEAR LEGISLATIVE LANGUAGE, THAT HOMEOWNERS SHOULD BE GIVEN EVERY OPPORTUNITY TO PAY THEIR HOME MORTGAGES, AND THUS KEEP THEIR HOMES.

POINT II

LONG-STANDING EQUITABLE PRINCIPLES HOLD THAT HOMEOWNERS SHOULD BE GIVEN EVERY OPPORTUNITY TO PAY THEIR HOME MORTGAGES, AND THUS KEEP THEIR HOMES.

POINT III

IN FURTHERANCE OF NEW JERSEY STATUTORY AND CASE LAW, MORTGAGORS SHOULD BE GIVEN THE OPPORTUNITY TO BUY THEIR MORTGAGES THROUGH ASSIGNMENT FOR THE SAME PRICE AS UNRELATED THIRD-PARTIES ARE PAYING.

POINT IV

THE DELIVERY OF THE ESCROWED MONEY TO THE PLAINTIFF EFFECTED AN EQUITABLE CONVERSION AND CREATED A CONSTRUCTIVE TRUST FOR THE BENEFIT OF THE DEFENDANTS, AT WHICH TIME THE PLAINTIFF WAS ...


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