Homeowner who lost his home in foreclosure asks this court to set aside the sheriff's sale of the property, arguing that the mortgage company did not follow the law and failed to invoke the doctrine of lis pendens. Lis Pend; Real Estate; Foreclosure; R.C. 2703.26.
Total mortgage foreclosures in Erie County fell to their lowest levels in at least five years in both July and August, defying the national trend and pundits, as figures for all of 2009 head toward a fourth straight year of lower home seizures. According to figures from the Erie County clerk's office, actual completed foreclosures for the first eight months of the year are down 35 percent from 2005, to 930, while the initial foreclosure filings, known as lis pendens, are down 15 percent from 2008 and 20 percent from 2005, to 1,751.
A St. Louis business owner received a $783,035 jury verdict in a counterclaim against a bank for an alleged illegal lis pendens action after he was sued for the remaining amount of a business loan. Rich Davis ran a commercial fruit juice company known as Citrus Springs with his ex-wife, Connie Davis. The company had taken out several loans over the years for varying amounts from First National Bank of St. Louis and had always made their monthly payments, said their attorney Paul Rechenberg.
Lis pendens; UFTA; Bona fide purchaser; Transfer of property to trustee and then to parents; Good faith; Reasonably equivalent value; Loan forgiveness
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