In Sandusky, Ohio, the Sandusky Register
published a recent account [by local attorney Dan McGookey
] involving an area-homeowner who had reportedly been screwed over by the financial institution holding her home loan after successfully emerging from a Chapter 13 bankruptcy. The loan ultimately went into foreclosure, she responded with a fight, and the following excerpt describes what happened when the parties were about to go to trial:
- Then on the eve of trial, without explanation her bank suddenly dismissed the case, abandoning its 9-year-long effort. Why, after all that time and expense, would the bank get cold feet and reverse course?
We will never know for sure, but a good guess is that it didn’t want its evidence exposed to the scrutiny a trial would bring.
Keep in mind, that chances are that like Stephanie’s, your mortgage is in a trust bundled with thousands of other loans, and the bank may not want to risk putting all its loans into play should it lose one case.