John W. Bell v. Bayview Loan Servicing, LLC, Case No 1:07-bk-01336-MDF, US Bankr Ct, Md Dist PA, 7/27/2007.
N/AOUTCOME: Sale of Commercial R.E. Approved
Debtor/Plaintiff proposed to sell commercial real estate. Debtor asserted mortgage payoff of approximately $330,000, and Bayview objected, claiming payoff was $411,000+ when "default interest" and "pr ... epayment consideration" was added to principal. Debtor prevailed by establishing that Bayview failed to provide required written notice, a prerequiste set forth in loan documents. Debtor saved approximately $81,000 in additional fees and prepayment penalties.
