More On Staten Island Foreclosure Halted For Violations Of NYS Ant-Predatory Lending Law

ABC News ran a story last week on David and Karen Shearon, the Staten Island, New York couple who, in a court case involving the attempted foreclosure of their home, received a favorable ruling by the presiding judge in which he:

1. found that the state's predatory lending laws were violated when the Shearon's home mortgage was originated,
2. denied the bank's bid for foreclosure, and
3. ruled that the Shearons may be entitled to a refund of their mortgage payments and attorneys fees.

Reportedly, the trial judge has agreed to rehear arguments about his decision to stop the foreclosure, and the foreclosing mortgage lender has appealed the decision.

To read more, see Fighting Back Against Foreclosure (New York Judge Denies Foreclosure Based on Alleged Predatory Lending).

For the court decision, see LaSalle Bank, N.A. v Shearon, Supreme Court, Richmond County, 2008 NY Slip Op 28032 (January 28, 2008).

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