January 30, 2009

First Union v. Wilson

Filed under: TILA

Here’s a nice way to defend foreclosure and a great example of the power of the TILA.

First Union files foreclosure against Wilson.
Wilson rescinds mortgage loan under the TILA.
Judge agrees and orders First Union to release security interest.
First Union doesn’t release security interest timely.
Judge says borrowers don’t have to tender.
First Union appeals.
Appeals Court agrees that borrowers don’t have to tender.
Nice!

First Union National Bank v. Wilson, No. 89284 (Ohio Ct. App. Dec 13, 2007)

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