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United States v. Estate of Sacchi

United States District Court, D. Montana, Billings Division

August 1, 2019

UNITED STATES OF AMERICA, Plaintiff,
v.
THE ESTATE OF PETER SACCHI, KNOWN AND UNKNOWN HEIRS AND DEVISEES OF PETER SACCHI, STEPHANIE SACCHI COMBS, STEPHEN SACCHI and SAMUEL SACCHI, MONTANA DEPARTMENT OF PUBLIC HEALTH AND HUMAN SERVICES and YELLOWSTONE COUNTY, a political subdivision of the State of Montana, Defendants.

          JUDGMENT, DECREE OF FORECLOSURE AND ORDER OF SALE

          SUSAN P. WATTERS, UNITED STATES DISTRICT COURT JUDGE.

         This matter having been before this Court by Plaintiff, United States of America, by and through its attorney, Victoria L. Francis, Assistant United States Attorney for the District of Montana, and upon considering the pleadings filed herein, it appears there is no issue of material fact, and the Court now makes the following Findings of Fact and Conclusions of Law.

         FINDINGS OF FACT

         1. This court has jurisdiction of this action for the reason that the United States of America is the party Plaintiff under 28 U.S.C. § 1345. The real property that is the subject of this foreclosure action is located in the County of Yellowstone, State of Montana, and is described as follows:

Lot 6, Block 2, of Sunset Subdivision, in the city of Billings, Yellowstone County, Montana, according to the official plat on file in the office of the Clerk and Recorder of said County, under Document #430343. (Doc. 1, Para. 5)

         2. Peter Sacchi received a Home Equity Conversion loan and mortgage/deed of trust, commonly referred to as a reverse mortgage from Intermountain Mortgage Co. Inc., on February 28, 2005. The Home Equity Conversion program was established by Congress under 12 U.S.C. § 1715 et seq. The loan and deed of trust was subsequently assigned to the U.S. Department of Housing and Urban Development (HUD). No payments on such loans are due, until all parties who signed the loan and mortgage are deceased, or have vacated the premises for one year. The loan is evidenced by a promissory note dated February 28, 2005. A true and correct copy of the promissory note is attached to the Complaint as Exhibit A (Doc. 1, Para. 2).

         3. As security for the above-described loan Peter Sacchi executed two Deeds of Trust as described below:

         a.) A Deed of Trust with Intermountain Mortgage Co., Inc., as beneficiary on February 28, 2005. This Deed of Trust was filed for record with the Clerk and Recorder of Yellowstone County on March 4, 2005 as Document No. 3324278. The Home Equity Conversion deed of trust was insured by HUD under the National Housing Act as amended, 12 U.S.C. § 1701 et Seq. A true and correct copy of the Deed of Trust is attached to the Complaint as Exhibit B. (Doc. l, Para. 3 a.).

         b). A Deed of Trust with the Secretary of Housing and Urban Development as beneficiary on February 258, 2005. This Deed of Trust was filed for record with the Clerk and Recorder of Yellowstone County on March 4, 2005 as Document No. 3324280. A true and correct copy of the Deed of Trust is attached to the Complaint as Exhibit C. (Doc. 1, Para 3 b.)

         4. The Adjustable Rate Home Equity Conversion Deed of Trust originally held by Intermountain Mortgage as described in paragraph 3 above was subsequently assigned by Intermountain Mortgage to Financial Freedom Senior Funding Corporation on March 4, 2005. The Assignment of Deed of Trust was filed with Yellowstone County Clerk and Recorder on March 4, 2005, under Document Number 3324279. Financial Freedom Senior Funding Corporation assigned the Adjustable Rate Home Equity Conversion Deed of Trust to Mortgage Electronic Registration Systems, Inc. ("MERS") on September 25, 2009. The assignment was recorded with the Yellowstone County Clerk and Recorder's Office on October 5, 2009, as Document Number 3526446. MERS assigned the Adjustable Rate Home Equity Conversion Deed of Trust to the Secretary of Housing and Urban Development on January 18, 2012. The assignment was recorded with the Yellowstone County Clerk and Recorder on January 26, 2012 under Document Number 3612459. True and correct copies of all the Assignments of the Deeds of Trust are attached to the Complaint as Exhibit D. (Doc. 1, Para. 4).

         5. The Deeds of Trust provide as security the real property located in Yellowstone County, Montana and described as follows:

Lot 6, Block 2, of Sunset Subdivision, in the city of Billings, Yellowstone County, Montana, according to the official plat on file in the office of the Clerk and Recorder of said County, under Document #430343.

         6. Defendant, Peter Sacchi, is in default under the terms of the promissory note and deeds of trusts described above. The Deeds of Trust provides for immediate payment in full if the borrower dies or the property is not the principal residence of a least one surviving borrower. Peter Sacchi passed away on December 19, 2017 and there is no surviving borrower. Attached to the Complaint as Exhibit E is a copy of the Montana Death Record from the Lexis/Nexis database. The Yellowstone County Clerk of Court was contacted and no probate action has been filed for Peter Sacchi. The account was accelerated on August 17, 2017. (Doc. 1, Para. 6).

         7. Defendant, Peter Sacchi, is indebted to the Plaintiff for the loans outlined above in the principal amount of $114, 145.52, plus accrued interest in the amount of $46, 769.09 as of February 13, 2018, plus administrative charges for payment of property tax, insurance and program fees in the amount of $16, 341.20 for a combined total of $177, 255.81 as of February 23, 2018. Interest continues to accrue from February 23, 2018, at the rate of $18.26 per day until the date of entry of judgment. Attached to the Complaint as Exhibit F is a ...


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