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.
Washington Instruction to Jury Regarding Damages for Wrongful Foreclosure is a set of guidelines given to the jury by the court in a wrongful foreclosure case in the state of Washington. These instructions provide clarity on how the jury should evaluate and calculate damages when ruling on a case involving wrongful foreclosure. The following are some relevant keywords associated with Washington Instruction to Jury Regarding Damages for Wrongful Foreclosure: 1. Wrongful foreclosure: This refers to a situation where a lender unlawfully seizes and sells a property through foreclosure proceedings, violating the borrower's rights or breaching the terms of the mortgage agreement. 2. Jury instructions: These are directions or guidelines provided by the court to jurors to assist them in understanding the relevant legal principles and issues to consider when determining the outcome of a case. 3. Damages: Damages refer to the monetary compensation awarded to the plaintiff (borrower) in a wrongful foreclosure case. The purpose of these damages is to restore the plaintiff to the position they were in before the wrongful foreclosure occurred. 4. Compensatory damages: In a wrongful foreclosure case, compensatory damages may include the actual financial losses suffered by the borrower, such as loss of equity, legal fees, costs of finding alternative housing, emotional distress, etc. 5. Punitive damages: In some instances, the court may award punitive damages on top of compensatory damages if it finds that the lender's conduct was especially egregious or malicious, aiming to punish the wrongdoing and deter similar behavior in the future. 6. Mitigation of damages: This concept refers to the borrower's obligation to minimize their losses after a wrongful foreclosure. If the borrower fails to take reasonable steps to mitigate their damages, the court may reduce the compensation awarded. 7. Proper instructions for calculating damages: The Washington Instruction to Jury Regarding Damages for Wrongful Foreclosure will provide specific guidance on how to calculate the appropriate amount of damages based on the evidence presented in the case, ensuring a fair and accurate assessment. It is important to note that the specific instructions given to the jury may vary depending on the circumstances of the case and any legal updates or changes in Washington state law. Therefore, it is essential to consult the current Washington Instruction to Jury Regarding Damages for Wrongful Foreclosure for precise and up-to-date information.
