Recently we received a favorable court decision in a foreclosure case on behalf of our client Mike who has a Chase Bank mortgage. The trial court had granted Chase summary judgment ordering foreclosure against Mike’s home. We appealed that judgment, and within the past week the Court of Appeals agreed with us that the judgment had been improperly granted, reversed it, and sent the case back to the trial court for further proceedings. The reason the Court did so was due to the fact that it found that Chase had failed to establish that it had met all the conditions precedent to foreclosure. In other words, the Court rightly found that it is always incumbent on a foreclosing party to prove that it had taken every step legally required; steps which are meant to protect homeowners’ rights, before being allowed to proceed with a foreclosure action. This is a subtle, but extremely important point for homeowners to be mindful of, as banks oftentimes are sloppy in their approach to meeting the legal requirements in their rush to foreclose.
Certainly, Chase is not alone in its lackadaisical attitude toward ensuring that homeowners’ rights are protected. For the Nation’s largest Bank, this one loss may seem to be a miniscule bump on the screen as it successfully churns out foreclosures by the thousands every day in its quest to maximize profits. However, sometimes it’s the small, seemingly insignificant events at the time which develop into much more dramatic happenings later. We believe the ruling by the Court of Appeals falls into this category. We say this because the basis for the Court’s ruling is applicable to foreclosures occurring everywhere, all the time. It is extremely commonplace for these crooked banks to take shortcuts at the homeowners’ expense in the foreclosure process. This fact presents a huge opening for homeowners to fight back in their effort to save their homes. Thus the hit that Chase just took was not the small one it no doubt thinks it is. Rather, the hit may just be the knock out blow which exposes all the fraud and corruption inherent the home mortgage business these days.
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Kate Eyster and Lauren McGookey contributed to this article.
Copyright 2014 Daniel L. McGookey