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.
South Carolina Instruction to Jury Regarding Damages for Wrongful Foreclosure: A Comprehensive Guide Introduction: The South Carolina Instruction to Jury Regarding Damages for Wrongful Foreclosure provides guidance to jurors in cases where a foreclosure has been deemed wrongful, resulting in financial harm to the homeowner. This instruction serves to outline the various aspects of damages that may be considered by the jury during the trial. Understanding these instructions is crucial for both attorneys representing the parties involved and the jurors responsible for determining the damages. Types of South Carolina Instruction to Jury Regarding Damages for Wrongful Foreclosure: 1. Compensatory Damages: — Compensatory damages aim to restore the homeowner to the financial position they would have been in had the wrongful foreclosure not occurred. — Jurors must carefully consider evidence of the actual losses suffered by the homeowner, such as lost equity, emotional distress, relocation costs, and damage to credit history. — Detailed instructions on calculating the amount of compensatory damages should be provided to the jury, including expert testimony and evidence provided by both parties. 2. Punitive Damages: — In some cases, punitive damages may be awarded when the wrongful foreclosure is deemed to have been carried out with malicious intent or reckless disregard for the homeowner's rights. — Jurors must carefully evaluate the evidence presented to determine whether punitive damages are warranted. — Specific instructions should guide the jury on the factors to consider when deciding the amount of punitive damages, including the defendant's actions, financial status, and the need for deterrence. 3. Mitigation of Damages: — The instruction should emphasize the importance of the homeowner's duty to mitigate damages promptly after the wrongful foreclosure. — Jurors should be guided on how to analyze whether the homeowner took reasonable steps to minimize the harm caused by the foreclosure, such as pursuing other housing options or mitigating credit score damage. 4. Evidentiary Issues: — The instruction should provide clarity regarding the types of evidence that may be considered by the jury when assessing damages in a wrongful foreclosure case. — This may include instructions on evaluating expert testimony, documentary evidence, and witness testimony. — Jurors must weigh the credibility and relevance of the evidence presented by both parties to make a fair and impartial decision. Conclusion: The South Carolina Instruction to Jury Regarding Damages for Wrongful Foreclosure plays a critical role in ensuring that jurors have a comprehensive understanding of the various damages that may arise from a wrongful foreclosure. These instructions help guide jurors in evaluating compensatory damages, determining punitive damages when appropriate, considering mitigation efforts by the homeowner, and assessing the credibility and relevance of evidence presented at trial. By following these instructions, jurors can make an informed decision that is fair and just for all parties involved.
