Thursday, November 26, 2009

Judge Erases $525G Mortgage for N.Y. Couple, Citing "Repulsive" Acts by Bank

Judge Erases $525G Mortgage for N.Y. Couple, Citing 'Repulsive' Acts by Bank - Local News | News Articles | National News | US News -

A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present — canceling their debt to ruthless bankers trying to toss them out on the street.

Suffolk Judge Jeffrey Spinner wiped out $525,000 in mortgage payments demanded by a California bank, blasting its "harsh, repugnant, shocking and repulsive" acts, the New York Post reported.

The bombshell decision leaves Diane Yano-Horoski and her husband, Greg Horoski, owing absolutely no money on their ranch house in East Patchogue.

Spinner pulled no punches as he smacked down the bankers at OneWest — who took an $814.2 million federal bailout but have a record of coldbloodedly foreclosing on any homeowner owing money.

OneWest also has a similar case in California. In that case, they are trying to foreclose on an 89 year old woman after being told twice by the courts to stop their activities and work with the woman.
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1 comment:

  1. Who really pays for the Mortgage? Is it the bank or the individual investor that will suffer the loss?