9th Circ. Revives Homeowners' Suit Over Foreclosures

Law360, New York (September 21, 2011, 5:13 PM EDT) -- The Ninth Circuit on Wednesday revived homeowners' chances of recovering money they say they lost when several major homebuilders and lenders marketed homes in their neighborhoods to buyers who were destined to foreclose, causing nearby property values to drop.

Because the appeals court found that a California federal court had erred in ruling that the homeowners lacked standing, they now have a chance to file an amended complaint targeting the companies, which include Centex Corp., CTX Mortgage Co., D.H. Horton Inc., Lennar Corp., Beazer Homes USA...
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