Boca Raton homeowner wins multi-million dollar foreclosure suit after legal misstep

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Boca Raton homeowner wins multi-million dollar foreclosure suit after legal misstep

Boca Raton homeowner wins multi-million dollar foreclosure suit after legal misstep

Palm Beach Post-

A Boca Raton homeowner whose waterfront mansion has been in foreclosure since 2008 had her case voluntarily dismissed by her lender Thursday in Palm Beach County court after a legal misstep during trial.

Because the case is so old, homeowner attorney Roy Oppenheim said the bank may run into trouble trying to refile it. There is a 5-year statute of limitations on foreclosures.

Homeowner Valerie Kaan bought the 13,000-square-foot home in 2003 for $8.4 million. Her loan was for $6.8 million from Washington Mutual Bank, which was later purchased by JP Morgan Chase. The outstanding balance as of Thursday was up to about $10 million with late fees, taxes and insurance, Oppenheim said.

[PALM BEACH POST]

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