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Real Estate & Property Law

: The Home Equity Theft Reporter

Court: "Promissory Estoppel" Could Make Lender?s Verbal Agreement To Halt F'closure Sale Enforceable, Even Absent Consideration For Promise To Stall

By r morris

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Lexology reports:The latest case following the mortgage meltdown underscores the need for lenders to be deliberate and clear in both their external and internal communications. In Garcia v. World Savings, FSB, 183 Cal. App. 4th 1031 (2010), the appellate court determined that the lender?s verbal agreement with the borrower to postpone a foreclosure sale could be enforceable, even absent

Full post as published by The Home Equity Theft Reporter on May 24, 2010 (boomark / email).

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