Applying a recently passed New York state law to a "questionable" transaction, a judge has halted a foreclosure to give the homeowners a chance to prove their claim that they were "defrauded" into signing over ownership of the home where they still live. The judge noted that the state's Home Equity Theft Prevention Act was enacted to protect homeowners against "aggressive 'equity purchasers'" who, using deceitful practices, could induce the sale of a home for a fraction of its market value.
July 23, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Applying a recently passed New York state law to a “questionable” transaction, a Nassau County judge has halted a foreclosure to give the homeowners a chance to prove they were tricked into selling their house.
In Washington Mutual Bank v. Sholomov, 021490/07, Supreme Court Justice Daniel R. Palmieri denied a motion by Washington Mutual to foreclose and sell the Glen Cove, N.Y., residence of Frank and Vincenza Dizazzo.
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