A judge in New York has completely erased a couple's mortgage debt of $525,000. He argued that the bank, IndyMac Mortgage Services, a division of OneWest Bank F.S.B, had misled him about the amount being disputed and had refused to be reasonable in helping the couple to modify the loan. It is said that the judge's ruling blasted the bank for its dealings with the couple, Diane Yano-Horoski and Greg Horoski. The bank has stated it will appeal the ruling stating, "We believe the Yano-Horoski ruling, if allowed to stand, has sweeping and dangerous implications for the entire mortgage lending industry."
The full article can be found here:
http://www.abajournal.com/news/article/judge_cancels_525k_in_mortgage_debt_blasts_banks_shocking_and_repulsive_act/
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