Ruling could have impact on foreclosure suits

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Ruling could have impact on foreclosure suits

Ruling could have impact on foreclosure suits

UPDATE:

For the ruling go here

H/T Nye

AJC-

An appeals court ruling this week in favor of a Cobb County couple could leave mortgage companies liable for damages for not following state law in an unknown number of Georgia foreclosures.

The 4-3 ruling probably won’t undo the result of past foreclosures, lawyers say, but could open another avenue for borrowers to sue mortgage firms.

“This could breathe new life into the challenges of foreclosures that took place in late 2008 and throughout 2009,” said Frank Alexander, a real estate law professor at Emory University.

The number of cases where the ruling might be applicable was not immediately clear, but could be in the tens of thousands.

[AJC]

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2 Responses to “Ruling could have impact on foreclosure suits”

  1. Vic says:

    Any idea on the case number or parties involved for review of the complaint and case decision? Thanks.

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