MODULAR HOME SALE: Buyer accepted home, did not timely revoke acceptance (16 months after delivery in counterclaims)… Watters affirmed (memorandum). [Read more…]
Note/procedure, balloon loan reset
NOTE/PROCEDURE: Regardless of whether requiring written notice of intent to exercise reset of balloon loan was contract of adhesion, it was within reasonable expectation of realtor, not unduly [Read more…]
$6 million verdict, bank fraud, condo loan
VERDICT: $1 million damages, $5 million punitives, bank fraud in converting 360-month residential condo loan application to 18-month commercial loan. [Read more…]
Banking, subordination agreement
BANKING: Subordination agreement placed bank’s mortgage ahead of seller’s loan, assignee of mortgage stepped into bank’s shoes in all respects, could sell property without notice to borrower or consent of borrower or seller… Wheelis reversed. [Read more…]
Lending breach, residential v. commercial loan
LENDING BREACH/TITLE INSURANCE: Breach of contract/negligence claims for converting 30-year residential loan to 18-month “consumer bridge” on residential condo in commercial zone without knowledge of borrower properly [Read more…]
Lending breach, rate increase on permanent loan
LENDING BREACH: Claims relating to rate increase on permanent house loan for failure to timely pay construction loan properly rejected on summary judgment despite other disputed facts… Lympus affirmed (IOR I-3(d)). [Read more…]