First Circuit Invalidates Foreclosure for Paragraph 19 Non-Compliance in Pre-Foreclosure Cure Notice Despite Notice's Factual Accuracy

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First Circuit Invalidates Foreclosure for Paragraph 19 Non-Compliance in Pre-Foreclosure Cure Notice Despite Notice’s Factual Accuracy

First Circuit Invalidates Foreclosure for Paragraph 19 Non-Compliance in Pre-Foreclosure Cure Notice Despite Notice’s Factual Accuracy

JD SUPRA-

Overview: The United States Court of Appeals for the First Circuit recently held that a notice of default and right to cure (“Cure Notice”) potentially misled the borrowers regarding the precise amount of time that the borrowers had to reinstate the loan prior to foreclosure as required by paragraph 19 of the mortgage. As a result, the Court held that the subject foreclosure was voidThompson v. JPMorgan Chase Bank, N.A., No. 18-1559, 2019 WL 493164 (1st Cir. Feb. 8, 2019). In sum, the Court held that the potentially deceptive wording regarding time to cure rendered the Cure Notice invalid. The case was remanded to the district court for further proceedings.

Background: The…

[JD SUPRA]

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