DRESHER V. LBJ REALTY V. OCWEN FEDERAL BANK
This is a current matter before the Honorable Clarkson S. Fisher, Jr. in the Superior Court of the State of New Jersey, Law Division, Monmouth County. The issues are somewhat complex in that this Firm represents a lender known as LBJ Realty, whose mortgaged lien was inappropriately removed. Thereafter, the property was refinanced by OCWEN Federal Bank in excess of $350,000.00, when LBJ's mortgage had an approximate balance of some $200,000.00. Upon learning of the inappropriate lien, this Firm filed a Notice of Motion which resulted in the court's reinstating LBJ's original lien, which had now moved from second position to that of first. The matter now before the court is the priority of the existing liens involving doctrines such as equitable subrogation, latches and general equity principles.