Sunday, February 06, 2011

Federal Judge OKs Trial For MD Man Seeking Damages After Being Victimized By Rogue Refinancing Leading To Foreclosure Despite Never Missing A Payment

In Baltimore, Maryland, The Baltimore Sun reports:
  • After years of crushing defeats and frustration, a Baltimore federal judge's ruling is giving new hope to a Columbia taxi owner who lost his house to foreclosure despite never missing a mortgage payment.

  • U.S. District Judge Richard D. Bennett ruled Monday that Kwaku Atta Poku, a Ghanian immigrant who lost his Columbia home to foreclosure in 2005 and was evicted the next year, is entitled to a trial on his allegations that his 2001 refinancing loan was mishandled because his first mortgage was never paid off by the bank that gave him a new loan.

  • "Thank God. Finally, somebody …" Atta Poku said when a reporter told him Tuesday about the judge's ruling. "I'm hoping something good will come out of that." A win in court later this year could help him recover financially; Atta Poku is seeking up to $34 million in damages and compensation.

For more, see Man who never missed a mortgage payment but lost home gets a trial (Atta Poku's first mortgage wasn't properly paid off after refinancing).