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: Missouri Instruction to Jury Regarding Damages for Wrongful Foreclosure: Understanding the Key Elements and Potential Types of Instructions Introduction: In a wrongful foreclosure case, the Missouri Instruction to Jury Regarding Damages plays a crucial role in guiding juries on determining the appropriate compensation to be awarded to the aggrieved party. This comprehensive guide will provide a detailed description of the key elements and various types of Missouri Instructions to Jury Regarding Damages for Wrongful Foreclosure. 1. Legal Background: Understanding the legal foundation is essential in comprehending the Missouri Instruction to Jury Regarding Damages for Wrongful Foreclosure. This section will explore the relevant state laws governing wrongful foreclosure cases and the basis for seeking compensatory damages. 2. Key Elements of Missouri Instruction to Jury Regarding Damages for Wrongful Foreclosure: a. Detailed Explanation of Wrongful Foreclosure: This instruction should provide a clear definition of what constitutes a wrongful foreclosure, outlining the essential elements that must be proven to establish liability. b. Evaluating Compensatory Damages: This instruction should guide the jury on assessing the compensatory damages resulting from the wrongful foreclosure. Factors such as lost equity, emotional distress, damage to credit, relocation expenses, and any other direct harm should be covered. c. Establishing Causation: This instruction should explain how the plaintiff's damages can be linked back to the wrongful foreclosure, emphasizing the need for a causal connection between the defendant's actions and the harm suffered. d. Mitigation of Damages: This instruction should elaborate on the plaintiff's duty to reasonably mitigate their losses following the foreclosure and how this may impact the final damages awarded. 3. Different Types of Missouri Instructions to Jury Regarding Damages for Wrongful Foreclosure: a. Economic Damages Instruction: This instruction focuses on quantifiable financial losses suffered by the plaintiff, such as loss of home equity, cost of foreclosure-related fees, loss of rental income (if applicable), and any other direct monetary harm. b. Non-Economic Damages Instruction: This instruction is tailored to address the intangible losses experienced by the plaintiff, including emotional distress, damage to reputation, mental anguish, loss of enjoyment, and any other non-monetary harm resulting from the wrongful foreclosure. c. Punitive Damages Instruction: In cases where the defendant's actions involve malice, fraud, or willful wrongdoing, this instruction explains the potential for awarding punitive damages to punish the defendant and deter similar conduct in the future. d. Calculation Instruction: This type of instruction provides the jury with guidelines or examples on how to calculate and determine the appropriate amount of damages, ensuring a fair and consistent approach across cases. Conclusion: The Missouri Instruction to Jury Regarding Damages for Wrongful Foreclosure serves as an invaluable tool in guiding juries through the complex process of assessing and awarding compensatory damages. By understanding the key elements and various types of instructions, both plaintiffs and defendants can better navigate the legal landscape tied to wrongful foreclosure cases in Missouri.
