Lisa Jo Pressman, individually and as Trustee of the Red Rock Realty Trust v. U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, and SN Servicing Corporation

CourtDistrict Court, D. Massachusetts
DecidedMarch 27, 2026
Docket1:24-cv-12885
StatusUnknown

This text of Lisa Jo Pressman, individually and as Trustee of the Red Rock Realty Trust v. U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, and SN Servicing Corporation (Lisa Jo Pressman, individually and as Trustee of the Red Rock Realty Trust v. U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, and SN Servicing Corporation) is published on Counsel Stack Legal Research, covering District Court, D. Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Lisa Jo Pressman, individually and as Trustee of the Red Rock Realty Trust v. U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, and SN Servicing Corporation, (D. Mass. 2026).

Opinion

UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS

_______________________________________ ) LISA JO PRESSMAN, individually and as ) Trustee of the Red Rock Realty Trust, ) ) Plaintiff, ) ) Civil Action No. v. ) 24-12885-FDS ) U.S. BANK NATIONAL ASSOCIATION, ) as Trustee of the Dwelling Series IV Trust, ) and SN SERVICING CORPORATION, ) ) Defendants. ) _______________________________________)

MEMORANDUM AND ORDER ON MOTION TO INTERVENE AND DEFENDANTS’ MOTIONS FOR SUMMARY JUDGMENT

SAYLOR, J. This is an action challenging the validity of a foreclosure proceeding. Plaintiff Lisa Jo Pressman seeks to set aside the foreclosure and sale of her property at 30 Red Rock Street, Lynn, Massachusetts. She is proceeding pro se. Defendants SN Servicing Corporation and U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, are the loan servicer and mortgagee, respectively. AlboHomeImp, LLC, the purchaser of the subject property, has moved to intervene. The amended complaint asserts claims for breach of contract; promissory estoppel; negligent misrepresentation; breach of the implied covenant of good faith and fair dealing; wrongful foreclosure; violation of the Massachusetts consumer protection statute, Mass. Gen. Laws ch. 93A; and violation of due process. Before the Court are defendants’ motion for summary judgment as to all counts, AlboHomeImp’s motion to intervene, and AlboHomeImp’s motion for summary judgment as to wrongful foreclosure. For the following reasons, the motions will be granted. I. Background A. Factual Background The following facts are undisputed unless otherwise noted.

Lisa Pressman’s mother, Barbara Pressman, owned a home at 30 Red Rock Street in Lynn, Massachusetts. On May 19, 2010, she executed a Home Equity Line of Credit agreement for $100,000 with Sovereign Bank. (Mot. Summ. J. Ex. A, Dkt. No. 31-1). That loan was secured by a mortgage on 30 Red Rock Street. (Id. Ex. B, Dkt. No. 31-2). The mortgage was recorded on June 7, 2010, in Essex County in book 29512, page 280. (Id.). In February 2011, Barbara Pressman transferred the property to herself as Trustee of Red Rock Realty Trust. (Id. Ex. C, Dkt. No. 31-3). In early 2012, Barbara Pressman passed away. (Id. Ex. D, Dkt. No. 31- 4). After her mother’s death, Lisa Pressman became the sole beneficiary of Red Rock Realty Trust and appointed herself trustee. (Id. Ex. E, Dkt. No. 31-5). On January 5, 2018, she entered

into an assumption and modification agreement with Santander Bank, the successor to Sovereign Bank. (Id. Ex. F, Dkt. No. 31-6). She “expressly assume[d] the Mortgage and Note” originally taken out by Barbara Pressman subject to certain modifications. (Id. at 2). At that point, the loan was in default with an outstanding balance of more than $125,000. (Id. at 3-4). She agreed to a modified principal balance of $125,057.87 and a loan repayment schedule. (Id. at 4). That assumption and modification agreement was then recorded. (Id.). By January 12, 2018, Barbara Pressman’s account with Santander showed no balance due. (Opp’n Ex. C, Dkt. No. 45). On December 12, 2019, SN Servicing Corporation took over servicing Lisa Pressman’s note and mortgage. (Fogleman Aff. ¶ 12, Dkt. No. 31; Mot. Summ. J. Ex. G, Dkt. No. 31-7). In November 2022, SN Servicing took out force-placed insurance on 30 Red Rock Street. (Fogleman Aff. ¶ 25). According to defendants, the cost of that insurance was never included in Pressman’s monthly payments. (Id. ¶ 26). Meanwhile, in February 2020, Santander assigned the mortgage encumbering 30 Red

Rock Street to U.S. Bank National Association as Trustee of Lodge Series IV Trust (“Lodge”). (Mot. Summ. J. Ex. I, Dkt. No. 31-9). That assignment conveyed the “Mortgage having been given to secure payment of $100,000.00, (Original Principal Amount) which Mortgage is of record in Book, Volume, or Liber No. 29512, at page 280 . . . of the records of Essex County, State of MA, together with the note(s) and obligations therein described and the money due.” (Id.). In February 2022, Lodge assigned the mortgage to U.S. Bank Trust Association as Trustee of the Dwelling Series IV Trust (“U.S. Bank”). (Id. Ex. K, Dkt. No. 31-11). It also conveyed the mortgage with an original loan amount of $100,000 recorded in Essex County in book 29512, page 280. (Id.). Neither assignment mentioned Lisa Pressman or her mortgage modification. (Id. Ex. I, Ex. K). Both assignments were recorded. (Id. Ex. I, Ex. K).

The record suggests that Pressman has been delinquent since at least March 2019. It appears that she has not made her monthly loan payment of $1,005.37, in full or in part, since then. (Opp’n Ex. H, Dkt. No. 45). Pressman has not presented any evidence to the contrary. Although the record is not clear, it appears that in 2021 SN Servicing began a foreclosure process on 30 Red Rock Street. Sometime in 2022, Lisa Pressman applied for Homeowner Assistance Fund (“HAF”) relief. HAF was created by Congress to mitigate financial hardship associated with the coronavirus pandemic, and SN Servicing had entered into a collaboration agreement with the Commonwealth of Massachusetts to facilitate the distribution of those funds. (Mot. Summ. J. Ex. J, Dkt. No. 31-10). The parties dispute what happened next. According to Pressman, her application was delayed because SN Servicing did not timely provide HAF reinstatement figures. (Opp’n Ex. G, Dkt. No. 45). SN Servicing contends that HAF never requested reinstatement figures. (Fogleman Aff. ¶ 28). Nonetheless, SN Servicing provided the reinstatement figures to HAF in

January 2023 and updated figures in May 2023. (Id. ¶¶ 30-32). It is undisputed that by May 2023, HAF had informed Pressman that it could not provide financial assistance until she paid her pre-2020 balance of $10,945. (SOF ¶ 28, Dkt. No. 30). Pressman then applied for Residential Assistance for Families (“RAFT”) funds.1 On September 11, 2023, RAFT informed Pressman that it would cover up to $7,000 of her pre-2020 arrears, leaving a balance of approximately $4,000. (SOF ¶ 31). Pressman never received those funds. She alleges that SN Servicing and U.S. Bank ignored requests from RAFT to confirm the availability of HAF funding and the remaining balance. (Am. Compl. ¶ 25, Dkt. No. 25). Those allegations, however, are not supported by the evidence. For its part, SN Servicing contends that it was never contacted by RAFT. (Fogleman Aff. ¶ 33).

In July 2024, defendant U.S. Bank submitted a mortgagee’s affidavit with the Massachusetts land court alleging that Pressman had been given notice to cure default in compliance with Mass. Gen. Laws, ch. 244, § 35A. (Mot. Summ. J. Ex. M, Dkt. No. 31-13). On September 20, 2024, U.S. Bank sent to Pressman by certified mail a notice of foreclosure informing her that a foreclosure auction was scheduled for October 30, 2024. (Id. Ex. N, Dkt. No. 31-14).

1 RAFT is a Massachusetts-run program that “provides short-term emergency funding to help . . . with eviction, foreclosure, loss of utilities, and other housing emergencies.” MASS.GOV, Apply for RAFT (Emergency Help for Housing Costs), https://www.mass.gov/how-to/apply-for-raft-emergency-help-for-housing-costs [https://perma.cc/5N2W-FWB5]. On October 28, 2024, Pressman sought a temporary restraining order in state court to prevent the foreclosure sale. (State Ct. R., Dkt. No. 8). U.S. Bank then postponed the auction to December 10, 2024. (Mot. Summ. J. Ex. O, Dkt. No. 31-15). It sent plaintiff a notice of the postponement by first-class mail. (Id.).

On December 10, 2024, 30 Red Rock Street was sold at auction to AlboHomeImp, LLC. (Id. Ex. Q, Dkt. No. 31-17). B. Procedural History On October 28, 2024, plaintiff filed a complaint in state court. (State Ct. R.). She sought a preliminary injunction to prevent the foreclosure of 30 Red Rock Street. (Id.).

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Lisa Jo Pressman, individually and as Trustee of the Red Rock Realty Trust v. U.S. Bank National Association, as Trustee of the Dwelling Series IV Trust, and SN Servicing Corporation, Counsel Stack Legal Research, https://law.counselstack.com/opinion/lisa-jo-pressman-individually-and-as-trustee-of-the-red-rock-realty-trust-mad-2026.