A Significant Case For All Calif. Mortgage Lenders
Law360 (May 23, 2019, 12:58 PM EDT) -- On April 30, 2019, in Taniguchi v. Restoration Homes, a California state appeals court resolved a question of first impression: Whether a borrower in California has the right to reinstate a mortgage loan that has been modified by paying only the amount in default under the loan modification agreement or can the lender accelerate all deferred amounts under the original, pre-modified loan terms.
This ruling is significant for all mortgage lenders and servicers who do business in California, and its sweeping impact will doubtless affect many thousands of mortgagors in the state. The court of appeal’s ruling favors California borrowers who...
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