Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure, after the debtor fails to make payment.
In most cases, a wrongful foreclosure action alleges that the amount stated as due and owing in the notice of default is incorrect for one or more of the following reasons: an incorrect interest rate adjustment, incorrect tax escrow collected, misapplied payments, or a forbearance agreement which was not adhered to by the servicer, Wrongful foreclosure actions are also brought when the servicers accept partial payments after initiation of the wrongful foreclosure process, then continue with the foreclosure.
Title: A Comprehensive Guide to Alaska Instructions to Jury Regarding Damages for Wrongful Foreclosure Introduction: In the state of Alaska, when a foreclosure is deemed wrongful, the jury plays a crucial role in determining the damages incurred by the plaintiff. This comprehensive guide aims to provide a detailed description of Alaska instructions given to the jury when awarding damages for wrongful foreclosure cases. Read on to gain a deeper understanding of the various types of instructions that might be provided by the court. 1. General Overview of Alaska's Instruction to Jury Regarding Damages for Wrongful Foreclosure: In wrongful foreclosure cases, the instruction to the jury serves as a guideline for determining the appropriate compensation for the aggrieved party. The instructions are designed to ensure a fair and just outcome by considering various factors involved in the case. 2. Instruction Regarding Compensatory Damages: Compensatory damages aim to reimburse the plaintiff for any financial losses incurred due to the wrongful foreclosure. The jury is instructed to consider various elements such as lost equity, lost rental income, lost opportunities, attorney fees, and other relevant economic damages. 3. Instruction Regarding Punitive Damages: In certain scenarios, where the defendant's actions are deemed willful, wanton, or malicious, the court may instruct the jury to award punitive damages. These damages are intended to punish the defendant and deter similar behavior in the future. 4. Instruction Regarding Emotional Distress Damages: Wrongful foreclosure can cause significant emotional distress to the plaintiff. In cases where the emotional impact is proven, the jury may be instructed to consider awarding damages to compensate for the mental suffering experienced by the aggrieved party. 5. Instruction Regarding Legal Fees and Costs: When the plaintiff prevails in a wrongful foreclosure case, the jury may be instructed to consider including the plaintiff's reasonable attorney fees and costs as part of the damages awarded. This instruction ensures that the prevailing party is not saddled with the financial burden of litigation. 6. Instruction Regarding Mitigation: The jury might be instructed to consider whether the plaintiff took reasonable steps to mitigate their damages. If the plaintiff could have reasonably avoided or reduced their losses by taking certain actions, the jury's award may be adjusted accordingly. 7. Instruction Regarding Prejudgment and Post-judgment Interest: The jury may be instructed to consider the inclusion of prejudgment and post-judgment interest when calculating the damages. This instruction ensures that the plaintiff receives an appropriate amount of compensation for both the past and future financial losses. Conclusion: In Alaska, instructing the jury regarding damages for wrongful foreclosure is crucial to ensuring a fair and equitable resolution to the case. Understanding the various types of instructions, such as compensatory damages, punitive damages, emotional distress damages, legal fees and costs, mitigation, and interest, enables the jury to weigh all relevant factors and arrive at a just decision. By following these instructions, the court aims to protect the rights of the aggrieved party and discourage wrongful foreclosure practices.
