Filed: Dec. 22, 2014
Latest Update: Dec. 22, 2014
Summary: [PROPOSED] ORDER DENYING UNITED STATES' MOTION REQUESTING AN ORDER REQUIRING INTERSTATE BANK, SSB, TO SHOW CAUSE WITH REGARD TO THE PROCEEDS RECEIVED FROM THE NON-JUDICIAL FORECLOSURE SALE OF THE MOUNTAIN MOSS DRIVE REAL PROPERTY AND REQUIRING AN EXPLANATION OF THE "RECOVERABLE BALANCE" AND "UNPAID OTHER FEES" ROBERT C. JONES, District Judge. On May 1, 2014, Plaintiff United States of America filed a Motion Requesting an Order Requiring Interstate Bank, SSB, to Show Cause with Regard to the P
Summary: [PROPOSED] ORDER DENYING UNITED STATES' MOTION REQUESTING AN ORDER REQUIRING INTERSTATE BANK, SSB, TO SHOW CAUSE WITH REGARD TO THE PROCEEDS RECEIVED FROM THE NON-JUDICIAL FORECLOSURE SALE OF THE MOUNTAIN MOSS DRIVE REAL PROPERTY AND REQUIRING AN EXPLANATION OF THE "RECOVERABLE BALANCE" AND "UNPAID OTHER FEES" ROBERT C. JONES, District Judge. On May 1, 2014, Plaintiff United States of America filed a Motion Requesting an Order Requiring Interstate Bank, SSB, to Show Cause with Regard to the Pr..
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[PROPOSED] ORDER DENYING UNITED STATES' MOTION REQUESTING AN ORDER REQUIRING INTERSTATE BANK, SSB, TO SHOW CAUSE WITH REGARD TO THE PROCEEDS RECEIVED FROM THE NON-JUDICIAL FORECLOSURE SALE OF THE MOUNTAIN MOSS DRIVE REAL PROPERTY AND REQUIRING AN EXPLANATION OF THE "RECOVERABLE BALANCE" AND "UNPAID OTHER FEES"
ROBERT C. JONES, District Judge.
On May 1, 2014, Plaintiff United States of America filed a Motion Requesting an Order Requiring Interstate Bank, SSB, to Show Cause with Regard to the Proceeds Received from the Non-Judicial Foreclosure Sale of the Mountain Moss Drive Real Property (Dkt. 212) ("OSC Motion"). Interstate Bank, SSB filed an opposition (the "Interstate Opposition") to the OSC Motion on May 16, 2014 (Dkt. 214) and Plaintiff filed a reply brief (the "Reply") on May 21, 2014 (Dkt. 215). The Court entertained oral argument regarding the OSC Motion at an October 9, 2014 hearing. As set forth in the OSC Motion and the Interstate Opposition, respectively: i) the OSC Motion was filed following a February 28, 2014 non-judicial foreclosure sale of the property that is the subject of this action, 7089 Mountain Moss Drive, Las Vegas, Nevada 89147 (the "Property"); ii) the Foreclosure Sale stemmed from defendant-borrower Keith Maris' default on Interstate's mortgage loan (the "Maris Loan"), which was secured by a lien against the Property in favor of Interstate; iii) in the OSC Motion, Plaintiff disputes Interstate's right to retain all proceeds ($110,100) from the Foreclosure Sale; and iv) Interstate, in the Interstate Opposition, sets forth following amounts as owing on the Maris Loan at the time of the Foreclosure Sale (the "Maris Loan Balances"):
$54,857.22 unpaid principal balance
$7,852.74 delinquent interest
$7490.71 escrow/impound overdraft
$205.38 unpaid late charges
$27,663.28 recoverable balance
$12,774.10 unpaid other fees
$17.00 recording fees
$108.00 property inspection fee
$110,968.43 TOTAL
Having reviewed the OSC Motion, the Interstate Opposition, and the Reply, and the record herein, and having entertained oral arguments of the parties, and good cause appearing, the Court hereby finds and orders as follows:
Plaintiffs' OSC Motion is DENIED; Interstate is required to file with the Court, by January 5, 2015, a written explanation of the "recoverable balance" and the "unpaid other fees" referenced above in the itemized list of the proceeds of the Foreclosure Sale; and the United States shall file a response by January 19, 2015.
IT IS SO ORDERED.
