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A New York judge wrote off a family’s US$525,000 home mortgage in an impetuous reaction to the lender’s foreclosure conduct – and just in time for Christmas.
Supreme Court Judge Jeffrey Spinner ruled that the Yano-Horoski couple were no longer indebted to Indymac Bank F.S.B. and could walk away debt free... and keep the house.
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Judge Spinner described the bank’s conduct as "harsh, repugnant, shocking and repulsive" and ordered that the mortgage be “vacated, cancelled, released and discharged of record.”
Such a decision could only happen in America.
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