Re: Slighty Off Topic but of interest none the less:
In Reply to: Re: Slighty Off Topic but of interest none the less: posted by JK (the other JK) on July 21, 2011 at 9:39 AM
I don't know of one either, but I sure am curious about these cases. I've read some cases that didn't cut it. There are some challenges in CA that other states don't have. CA case law provides a lot of lee-way for lenders. The original note is not required. You can sue to delay but there are remedies available to lenders/note holders. Even with a BK cramdown of a bank loan, it doesn't make the house free and clear, unless the BK judge can somehow detach the collateral from the note. If this is happening and someone knows of an actual case, please share..
Then there is the issue of tendering. If you want to overturn a sale, you have to be able to be able to prove that you have the money to bring the loan current when bringing a case against a lender and trustee. Basically the court is saying don't waste our time with technicalities if you can't pay the amount due anyway. Not sure that's best law, but it's there. Surely there is one case....somewhere in CA that these people are banking on. ;)
: : : I'm running into a lot of homeowners in distress that are being duped
: : Which facts are you referring to?
: I believe it's a myth that the end result of a lawsuit will be a "Free and Clear" house. It's a fact that I don't know of ONE CASE where someone sued the bank in California and has won a "Free and Clear" home.
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