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· A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles – and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof.
California :Aceves ruling: Foreclosed homeowner has cause to sue bank for fraud A California appeals court ruled that U.S. Bank reneged on its promise to negotiate a mortgage modification, which is sufficient cause for the homeowner to sue the bank for fraud in a scathing ruling alleging the bank never had any intention of working with the homeowner.
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Wrongful foreclosure is a civil cause of action based on allegations of foreclosure fraud. Fraud can occur across multiple facets of the foreclosure process, including botched documents, unscrupulous lenders or predatory foreclosure mediators. Each jurisdiction handles claims of foreclosure fraud.
Aceves ruling: Foreclosed homeowner has cause to sue bank for fraud Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage.
Florida law already provided for a procedure designed to speed up the foreclosure process in uncontested cases or in cases where the homeowner does not have a legitimate defense. Previously, after the foreclosure complaint had been filed, the mortgagee (the lender) could request an order to show cause why the foreclosure should not proceed.
A wrongful foreclosure action typically occurs when the lender starts a non judicial foreclosure action when it simply has no legal cause. Wrongful foreclosure actions are also brought when the service providers accept partial payments after initiation of the wrongful foreclosure process, and then continue on with the foreclosure process.
suing for wrongful foreclosure – a must read. By consumerrightsdefenders on April 6, 2013 in Uncategorized In California, the tort of wrongful foreclosure requires: (1) a legally owed duty to the Plaintiff by the foreclosing party (2) a breach of that duty (3) a causal connection between the breach of that duty and the injury the Plaintiff.
· ”Our ruling in this case is a narrow one. We hold only that a borrower who has suffered a nonjudicial foreclosure does not lack standing to sue for wrongful foreclosure based on an allegedly void assignment merely because he or she was in default on the.