Thabata v. Bank of America, N.A.

Summarized by J. Debbeler , Bricker Graydon LLP
10 years 6 months ago

Citation:

File 15a0585n.06; Case No 15-1010

Tag(s):

Ruling:

Sixth Circuit affirmed District Court's grant of summary judgment to mortgagee Bank of America (BOA) finding that the District Court properly found that BOA complied with Michigan's statutory foreclosure framework and the Sixth Circuit found that District Court properly denied the homeowner's motion for reconsideration finding that the Trial Period Plan was not signed by BOA or homeowner and was therefore not a binding contract thereby obviating homeowner's claim BOA breached the Trial Period Plan.

Procedural context:

After state court foreclosure sale and homeowner's failure to redeem the mortgaged property, homeowner filed suit in District Court for quiet title on the grounds that BOA did not comply with the Michigan statutory framework for foreclosure and BOA committed deceptive acts and/or unfair practice. BOA filed a motion for summary judgment arguing homeowner lacked standing because the state redemption period had expired and there were no foreclosure irregularities. District Court granted BOA's motion for summary judgement and denied the motion for reconsideration.

Facts:

Homeowner defaulted on mortgage loan held by BOA and BOA began foreclosure proceedings. BOA granted homeowner a Trial Period Plan. Homeowner failed to make payments and lost the right to seek a loan modification. BOA met all procedural requirements of foreclosure process. Substantial performance by homeowner is not sufficient if the Trial Period Plan is not executed by either party- failure of execution makes it not binding.

Judge(s):

Guy, Moore, and Kethledge, Circuit Judges

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