judge CANCELS $500k mortgage in judgement

Suffolk Judge Jeffrey Spinner Cancels Couple's Mortgage Debt


If this clown doesn't get his decision overturned, you can forget about ever again getting a mortgage thru a bank. It will destroy lender/borrower agreements. Is this how personal responsibility gets treated by a judge in the new, better, broken economy?

UNBELIEVABLE!

I don't know if I find it unbelievable-- judges are notorious for doing things like this to "send a message" to plaintiffs or defendents. They know it will get big media play, and they know their ruling will be overturned by a higher court.

They don't do it because they think their judgement will stick.

They do it because they want to start a discussion-- and to give the media something to get that discussion started.

Actually, I applaud his decision. Not because he erased their mortgage-- but because he's trying to send a message to banks that they have to be a bit more "give and take" with their loans. In other words, if a borrower comes to you and tries to work out a solution-- and is earnest-- the lenders need to work w/their borrowers. Instead of treating them like mushrooms.

-Russ H.

I would love to hear what the bank did that was harsh, repugnant, shocking and repulsive.

Did anyone else actually read the details surrounding this case? The couple refinanced their home using a sub-prime lender back in 2004 to apparently support the husbands online business, and deal with some increased health care cost. Not sure which was more of a pressing issue at the time. Irregardless, the bank sued back in 2005 for failure to pay, and only just received "permission" to foreclose on the property last January. So that means conceivably this couple could have been living here for free or near free for the last 5 years!

Now, I'm not one to be cold and I also don't know the details concerning the gentleman's medical condition, but it is hard for me to see what the bank could have done that was so reprehensible as to garner this type of reaction from the judge. The man involved even said himself that it seemed more of a personal vendetta. I can understand empathy, but this seems almost a near reckless decision by the judge involved.

That's odd. My username is showing up as my email. Guess my browser auto-completed the name, as the name I wanted starts similarly. Could you fix this for me MJ?

Brief aside: long time lurker and reader of the forums. Find myself coming nearly daily so I figured I might as well join

Right on !!! The banks not only need to be made to work with these borrowers, but they are totally incompetent in working out the details!

See above !!

Update the thread "user name changes" in the Intro forum to your desired name and I can change it.