A New York judge wrote off a family’s US$525,000 home mortgage in an impetuous reaction to the lender’s foreclosure conduct – and just in time for Christmas.
Supreme Court Judge Jeffrey Spinner ruled that the Yano-Horoski couple were no longer indebted to Indymac Bank F.S.B. and could walk away debt free... and keep the house.
Judge Spinner described the bank’s conduct as "harsh, repugnant, shocking and repulsive" and ordered that the mortgage be “vacated, cancelled, released and discharged of record.”
Such a decision could only happen in America.