Equitable Subrogation: “Complete and Perfect Justice” Requires Party To Be Without Fault

Errors are often made and overlooked. Often we’ll hear about cases where the neighbor’s house was found in NJF proceeding when all of its payments had been made – due to an error or typo. Verify everything.

Bankruptcy-RealEstate-Insights

Ocwen Loan Servicing LLC v. Summit Bank, N.A. (In re Francis), 750 F.3d 754 (8th Cir. 2014) –

A lender that attached the wrong legal description to its recorded mortgage sought equitable subrogation and/or reformation of the mortgage in order to obtain a first priority lien on the intended property.

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