Yes, there is a God… And it lives in the California Appeals Court! Decent judges – Amen!
California appeals court slaps down servicer’s attempt to require payment of the entire mortgage loan a condition of homeowner protection.
Nice try, Ocwen.
But no, says an intermediate California appeals court.
Such an interpretation would gut theCalifornia Homeowner’s Bill of Rights.
The facts in Valbuena v. Ocwen are common: Ocwen became the servicer of the Valbuena’s mortgage loan when the loan was in default.
Ocwen filed a notice of foreclosure sale and sent the homeowners a letter offering to consider a loan modification. The homeowners submitted an application and supplemented it when Ocwen told them it was missing necessary documents.
Two days later, Ocwen foreclosed.
Dual tracking prohibited
California’s homeowners bill of rights forbids a foreclosure sale while the mortgage servicer is considering an application to modify the loan in default.
Nonetheless, Ocwen solicited a loan modification application and barreled right along to…
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