California Supreme Court Finally Helps Cheated Homeowners – YVANOVA ruling Hammers Defendants

At long last, homeowners can sue based on illegal foreclosures.

TSVETANA YVANOVA,
Plaintiff and Appellant,

v.

NEW CENTURY MORTGAGE
CORPORATION, OCWEN LOAN
SERVICING, LLC, WESTERN
PROGRESSIVE, LLC, and DEUTSCHE
BANK NATIONAL TRUST COMPANY,
et al,
Defendant-Respondent.

EXCERPT

TABLE OF CONTENTS

INTRODUCTION …………………………………. 1
STATEMENT OF INTEREST …………………………………. 2
ARGUMENT …………………………………. 3
I. CALIFORNIA HAS A STRONG PUBLIC POLICY
IN FAVOR OF PROTECTING HOMEOWNERS
FROM WRONGFUL FORECLOSURE …………………………. 3

A. California’s Foreclosure Statutes Strike a
Careful Balance Between Efficiency in
Foreclosure and Homeowner Protection ……………….. 4

B. The Recent Enactment of the HBOR Reflects a
Legislative Intent to Protect Homeowners
Against Abusive Practices, Including
Foreclosures by the Wrong Party ………………………….. 5

II. A HOMEOWNER MAY BRING A CAUSE OF
ACTION FOR WRONGFUL FORECLOSURE ON
THE BASIS THAT THE ASSIGNMENT OF DEBT
IS INVALID ……………………………………………………………….. 7

A. The Foreclosing Party’s Lack of Authority Is a
Proper Basis on which the Homeowner May
Challenge a Foreclosure ………………………………………. 7

B. Because a Void Assignment Deprives a
Foreclosing Party of the Authority to Foreclose,
a Homeowner May Bring a Wrongful
Foreclosure Action on That Basis ……………………….. 10

C. A Homeowner Is Harmed When an Entity
Without The Authority To Do So Forecloses on
Her Home ………………………………………………………… 14

D. Permitting Wrongful Foreclosure Actions to
Challenge Invalid Assignments is Sound Policy …… 17

CONCLUSION ……………………………………………………………………………… 19

[…]

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