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COMMONWEALTH OF MASSACHUSETTS
ESSEX, SS. SUPERIOR COURT DEPARTMENT
DOCKET NO. 9a746y 00218 C,
BRIAN A. BOGOSIAN, individually and as Personal Representative of
THE ESTATE OF ARAM BOGOSIAN,
Petitioner,
Vv.
aa
S=
FINANCE OF AMERICA REVERSE LLC, ral
am
aU
Respondent.
EQUITY PETITION TO STAY REAL ESTATE FORECLOSURE
PURSUANT TO M.G.L. ¢ 215 § 6
I. Introduction
Finance of America Reverse, LLC (“Finance America”) is the holder of reverse
mortgage from Aram Bogosian to Mortgage Electronic Registration Systems, In¢., as nominee
,
for Finance America Reverse LLC, dated April 16, 2018, and recorded in the Es: x North
District Registry of deeds at Book 1554, Page 89, related to property located at 208 River Road,
Andover, Massachusetts, 01810. The Land Court entered a Judgement on October 22, 2021,
adjudging that the Bogosians are not entitled to the benefits of the Servicemembers Civil Relief
Act, which the Bogosians concede. The Finance America now seeks to proceed to auction under
the statutory power of sale contained in the mortgage.
With such judgment in hand, the Finance America has scheduled a foreclosure sale
auction for January 20, 2022, at 2:00 P.M, which was continued to March 7, 2022. The Petitioner
now seeks stay until March 31, 2022.
II. Parties
1 The Petitioner, Brian A. Bogosian, is an individual and the Personal
Representative of the Estate of Brian A. Bogosian residing at 3410 Jackson Street, San
Francisco, California 94118.
2. The Respondent, Finance of America Reverse LLC is a limited liability company
with an address of 3900 Capital City Boulevard Lansing, Michigan 48906.
III. Facts
3 Upon learning of the judgment and intention to proceed to foreclosure auction in
the late stages of 2021, Bogosian actively have pursued the payment of the indebtedness of the
Estate of Aram Bogosian (“Estate”) to the Finance America.
4. Brian A. Bogosian has secured financing to pay the entire indebtedness to the
Finance America, subject only to a clear title.
5 To obtain a clear title to satisfy the reverse mortgage, the lender informed
Bogosian, in December of 2021 that all heirs and devisees, the Personal Representative of the
Estate, trustees of an estate planning revocable trust, and all such beneficiaries are required to
execute a deed into the name of Brian A. Bogosian to complete the loan.
6 Bogosian worked diligently to secure such signatures to comply |with the lender
title insurance requirements.
7 In mid-December, however, the lender’s title insurance company altered their
stance and have now required the allowance of a Decree and Order of Complete Settlement of
the Estate of Aram Bogosian, which includes a final Determination of Heirs.
8 Immediately upon learning of this requirement, Bogosian commenced the process
with the Essex County probate and Family Court to obtain the required decree.
9 Bogosian filed all required documents with the Essex Probate Court, including
requests for a short order of notice, a motion to waive publication, a motion to waive citation,
and a motion for expedited allowance.
10. After e-filing (as required) counsel for Bogosian appeared, in-person, to request
that the Probate Court expedite the filing given the emergency nature of the matter. Counsel was
able to secure an expedited issuance of a citation.
11. Due to rule requirements, however, the Court was unable to waive the citation or
the publication of the citation. The Court, however, issued a citation on an expedited basis,
which citation was immediately sent for publication in the Lawrence Eagle-Tribune.
12. The return date on the citation is January 15, 2022 (a Saturday). After bringing
this to the attention of the Court, counsel immediately informed the Clerk who indicated that the
return date be pushed to Monday, January 17, 2022. However, that date is a national holiday —
Martin Luther King, Jr. Day. As a result, the return date was January 18, 2022, two (2) days prior
to the auction date. Prior to a hearing to Stay, the foreclosure was postponed to March 7, 2022.
13. Bogosian diligently waited for the Decree to enter by the Court.
14. A Decree and Order of Complete Settlement was issued on February 23, 2022 by
the Essex County Probate and Family Court. See, Estate of Aram Bogosian, Docket No.
ES21P2983EA.
15. Once the Decree was entered, Bogosian immediately forwarded the Decree to the
refinancing bank to release the loan file.
16. The bank refinance file has now been released but is subject to state and federal
processing guidelines and TRID disclosure requirements, which requires time,
17. Bogosian has requested that the auction date be postponed to allow Bogosian to
close the loan in light of the administrative requirements of the Court and to effectively 4
administer the Estate. Such requests have been denied.
18. We have a letter from the lender that recites a closing date no later than March 31,
2022.
19. The foreclosure will irreparably deprive Petitioner and his family of preserving
the family home.
20. On Saturday, March 5, 2022, Petitioner authorized a payoff of the outstanding
mortgage, in full, in the amount of $423,920.31, which represents the full payoff for the
outstanding loan.
21. This amount was recited as the final payoff to by a representative of the
Respondent with Respondent’s counsel on a telephone conference call with Petitioner counsel.
22. After a call with Respondent counsel, he indicated that his client had not
authorized a delay in the auction as of Sunday, March 6, 2022, at 10:30 A.M.
23. Respondent counsel will not guarantee an answer from Respondent regarding the
postponement of the auction prior to 1:00 P.M. March 7, 2022, despite having written evidence
of the completed wire transfer.
24. Petitioner now requests a stay of the auction slated for Monday, March 7, 2022
until March 31, 202 to allow time for the wire and any other last minute unknown contingencies
set by the Respondent to be addressed by the Petitioner
WHEREFORE, the Petitioner requests that the Court:
1 Enter an order staying the auction slated for Monday, March 7, 2022 until March
31, 202 to allow time for the wire and any other last minute unknown
contingencies set by the Respondent to be addressed by the Petitioner.
2. Any other relied that the Court finds equitable and just.
Respectfully Submitted,
Brian A. Bogosian, individually and as Personal
Representative of the Estate of Aram Bogosian ‘
By His Attorneys,
Peter J. Caruso, Esq. (BBO#076920)
Peter J. Caruso II, Esq. (BBO#634638)
Caruso & Caruso, LLP
68 Main Street
Andover, MA 01810
pearuso@carusoandcaruso.com
Tel. 978-475-2200; Fax 978-475-1001
x
wnen
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COMMONWEALTH OF MASSACHUSETTS ESSEX, SS. SUPERIOR COURT DEPARTMENT DOCKET NO. 9a746y 00218 C, BRIAN A. BOGOSIAN, individually and as Personal Representative of THE ESTATE OF ARAM BOGOSIAN, Petitioner, Vv. aa S= FINANCE OF AMERICA REVERSE LLC, ral am aU Respondent. EQUITY PETITION TO STAY REAL ESTATE FORECLOSURE PURSUANT TO M.G.L. ¢ 215 § 6 I. Introduction Finance of America Reverse, LLC (“Finance America”) is the holder of reverse mortgage from Aram Bogosian to Mortgage Electronic Registration Systems, In¢., as nominee , for Finance America Reverse LLC, dated April 16, 2018, and recorded in the Es: x North District Registry of deeds at Book 1554, Page 89, related to property located at 208 River Road, Andover, Massachusetts, 01810. The Land Court entered a Judgement on October 22, 2021, adjudging that the Bogosians are not entitled to the benefits of the Servicemembers Civil Relief Act, which the Bogosians concede. The Finance America now seeks to proceed to auction under the statutory power of sale contained in the mortgage. With such judgment in hand, the Finance America has scheduled a foreclosure sale auction for January 20, 2022, at 2:00 P.M, which was continued to March 7, 2022. The Petitioner now seeks stay until March 31, 2022. II. Parties 1 The Petitioner, Brian A. Bogosian, is an individual and the Personal Representative of the Estate of Brian A. Bogosian residing at 3410 Jackson Street, San Francisco, California 94118. 2. The Respondent, Finance of America Reverse LLC is a limited liability company with an address of 3900 Capital City Boulevard Lansing, Michigan 48906. III. Facts 3 Upon learning of the judgment and intention to proceed to foreclosure auction in the late stages of 2021, Bogosian actively have pursued the payment of the indebtedness of the Estate of Aram Bogosian (“Estate”) to the Finance America. 4. Brian A. Bogosian has secured financing to pay the entire indebtedness to the Finance America, subject only to a clear title. 5 To obtain a clear title to satisfy the reverse mortgage, the lender informed Bogosian, in December of 2021 that all heirs and devisees, the Personal Representative of the Estate, trustees of an estate planning revocable trust, and all such beneficiaries are required to execute a deed into the name of Brian A. Bogosian to complete the loan. 6 Bogosian worked diligently to secure such signatures to comply |with the lender title insurance requirements. 7 In mid-December, however, the lender’s title insurance company altered their stance and have now required the allowance of a Decree and Order of Complete Settlement of the Estate of Aram Bogosian, which includes a final Determination of Heirs. 8 Immediately upon learning of this requirement, Bogosian commenced the process with the Essex County probate and Family Court to obtain the required decree. 9 Bogosian filed all required documents with the Essex Probate Court, including requests for a short order of notice, a motion to waive publication, a motion to waive citation, and a motion for expedited allowance. 10. After e-filing (as required) counsel for Bogosian appeared, in-person, to request that the Probate Court expedite the filing given the emergency nature of the matter. Counsel was able to secure an expedited issuance of a citation. 11. Due to rule requirements, however, the Court was unable to waive the citation or the publication of the citation. The Court, however, issued a citation on an expedited basis, which citation was immediately sent for publication in the Lawrence Eagle-Tribune. 12. The return date on the citation is January 15, 2022 (a Saturday). After bringing this to the attention of the Court, counsel immediately informed the Clerk who indicated that the return date be pushed to Monday, January 17, 2022. However, that date is a national holiday — Martin Luther King, Jr. Day. As a result, the return date was January 18, 2022, two (2) days prior to the auction date. Prior to a hearing to Stay, the foreclosure was postponed to March 7, 2022. 13. Bogosian diligently waited for the Decree to enter by the Court. 14. A Decree and Order of Complete Settlement was issued on February 23, 2022 by the Essex County Probate and Family Court. See, Estate of Aram Bogosian, Docket No. ES21P2983EA. 15. Once the Decree was entered, Bogosian immediately forwarded the Decree to the refinancing bank to release the loan file. 16. The bank refinance file has now been released but is subject to state and federal processing guidelines and TRID disclosure requirements, which requires time, 17. Bogosian has requested that the auction date be postponed to allow Bogosian to close the loan in light of the administrative requirements of the Court and to effectively 4 administer the Estate. Such requests have been denied. 18. We have a letter from the lender that recites a closing date no later than March 31, 2022. 19. The foreclosure will irreparably deprive Petitioner and his family of preserving the family home. 20. On Saturday, March 5, 2022, Petitioner authorized a payoff of the outstanding mortgage, in full, in the amount of $423,920.31, which represents the full payoff for the outstanding loan. 21. This amount was recited as the final payoff to by a representative of the Respondent with Respondent’s counsel on a telephone conference call with Petitioner counsel. 22. After a call with Respondent counsel, he indicated that his client had not authorized a delay in the auction as of Sunday, March 6, 2022, at 10:30 A.M. 23. Respondent counsel will not guarantee an answer from Respondent regarding the postponement of the auction prior to 1:00 P.M. March 7, 2022, despite having written evidence of the completed wire transfer. 24. Petitioner now requests a stay of the auction slated for Monday, March 7, 2022 until March 31, 202 to allow time for the wire and any other last minute unknown contingencies set by the Respondent to be addressed by the Petitioner WHEREFORE, the Petitioner requests that the Court: 1 Enter an order staying the auction slated for Monday, March 7, 2022 until March 31, 202 to allow time for the wire and any other last minute unknown contingencies set by the Respondent to be addressed by the Petitioner. 2. Any other relied that the Court finds equitable and just. Respectfully Submitted, Brian A. Bogosian, individually and as Personal Representative of the Estate of Aram Bogosian ‘ By His Attorneys, Peter J. Caruso, Esq. (BBO#076920) Peter J. Caruso II, Esq. (BBO#634638) Caruso & Caruso, LLP 68 Main Street Andover, MA 01810 pearuso@carusoandcaruso.com Tel. 978-475-2200; Fax 978-475-1001 x wnen am go D