Judge Blasts Bank’s Foreclosure Conduct and Cancels Mortgage
November 24, 2009 by admin
A lender’s “unconscionable, vexatious and opprobrious” conduct in attempting to foreclose on a Long Island home has prompted a state judge to cancel the mortgage on the property.
IndyMac Bank v. Yano-Horoski, 2005-17926, came before Suffolk County Supreme Court Justice Jeffrey A. Spinner as the result of a state law mandating pre-foreclosure settlement conferences between lenders and borrowers of subprime, or high-cost, home loans.
The case was decided with the county facing what the judge characterized as “the yawning abyss of a deep mortgage and housing crisis with foreclosure filings at a record high rate and a corresponding paucity of emergency housing.” Read more about this foreclosure case…
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