Judge punishes bank by canceling mortgage

Reading this article, I got the feeling that the bank wasn’t interested in working with the court, but instead wanted to have things done its way.  Looks like the bank learned that the Judge is the boss.

The judge concluded that the banks' conduct was "wholly unsupportable at law or in equity, greatly egregious and so completely devoid of good faith that equity cannot be permitted to intervene on its behalf."

But he went further than rejecting the foreclosure.

If the case was simply dismissed, he wrote, the court "cannot be assured that Plaintiff will not repeat this course of conduct."

Also Spinner said that monetary sanctions were "not likely to have a salubrious or remedial effect" and, in any case, would not benefit the homeowner.

Imposing sanctions would bring little benefit to the homeowner, the judge wrote, leaving the "appropriate equitable disposition" of canceling the debt and discharging the mortgage.

Thus, he concluded that the original principal amount of $292,500 "should be cancelled, voided and set aside," the mortgage be discharged and the bank barred from any attempt to collect on the note.

Source: Law.com - Judge Blasts Bank's Foreclosure Conduct and Cancels Mortgage