Legal News
FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
Whose appraisal is it anyway?
|
Tuesday, September 2, 2014
|
|
A California court recently weighed in on whether a financial institution owes a duty of care to a borrower in preparing a property appraisal — or whether the appraisal is conducted for the lender’s benefit.
In the case of Monique Harris v. Bank of America NA, et al., (Court of Appeal, Fourth District, Division 2, California, No. E054887), a homebuyer who alleged her builder, mortgage lender and appraiser engaged in an illegal inflated appraisal scheme faced an uphill battle as she argued that the companies owed her a certain duty of care. “There is a case here,” plaintiff Monique Harris argued as her lawsuit faced two separate courts, but ultimately, Harris “forfeited” her arguments, according to the appellate court, which relied on a 23-year-old decision in an appraisal case.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories