KCRA Interviews Stephen Foondos

KCRA Interviews Stephen Foondos

Written by  in category 
March 3, 2017

KCRA Interviews Stephen Foondos:

Attorney: Court ruling could help families in foreclosure

Supreme Court rules against banks in wrongful foreclosure suit

ROSEVILLE, Calif. (KCRA) —With an estimated 1.3 million California homeowners in foreclosure, a Roseville attorney says the state Supreme Court has made a decision that could ultimately keep many from losing their homes.

“This is nothing less than a huge victory for homeowners because this provides them with the legal leverage that they have when they are trying to attempt to get some recourse from their bank,” attorney Stephen Foondos said.

Foondos said a Fresno homeowner fought foreclosure in court and won in the case known as Glask v. Bank of America. In the case, the homeowner claimed the financial institution trying to take his home didn’t have the right to because the loan was improperly transferred to a securities trust.

“This trust never owned anything and therefore didn’t have the right to foreclose on Mr. Glaski, which now means Mr. Glaski has the right to sue,” Foondos said.

Five major banks asked the California Supreme Court to keep the Glaski decision from being published so that it couldn’t be used it as precedent in other foreclosure cases around the state.

Lawyers for the financial institutions claimed the decision could be catastrophic for the banking industry.

But this week, five Supreme Court justices sided against the banks and the court is allowing the decision to be used as a legal basis in other future cases.

“These are no joke,” Foondos said. “That’s why the banks have been aggressively trying to suppress this information from the public.”

Foondos said it’s not necessarily a silver bullet that will cut short all foreclosure proceedings, but it could be a legal tool for people at risk of losing their homes.

1,838 Responses

  1. Donate care says:

    Pretty! This has been an extremely wonderful post.Thank you for supplying
    this info.

  2. It is actually a nice and helpful piece of info.
    I’m glad that you simply shared this helpful info with us.
    Please stay us up to date like this. Thanks for sharing.

    Feel free to visit my webpage: best weed gummies (https://www.peninsuladailynews.com/)

  3. What’s up, after reading thi awesome post i am as weell delighted to share my experience here with friends.

  4. Way cool! Some very valid points! I appreciate you penning this post and the
    rest of the website is also reakly good.

  5. I am pleased that I detected this web blog, just the right informationn that I wass searching for!

  6. You need to take part iin a confest for one of the most useful websites online.
    I will recommend this site!

  7. Georgina says:

    Your mode of describing all in this piece
    off writing is in fact pleasant, all be capable of simply be aware of it,
    Thanks a lot.

Leave a Reply

Your email address will not be published.

United Law Center Newsletter
=