Panel Upholds Judgment Against Lender Over Purchase Of Home Riddled With Defects

Mealey's (October 22, 2020, 11:58 AM EDT) -- SACRAMENTO, Calif. — A California appeals panel on Oct. 20 affirmed a ruling entering judgment against a lender accusing a borrower of fraudulently inducing it to pay the full amount in a foreclosure sale for a home that was later deemed uninhabitable as a result of construction defects, finding that the fraud exception to the full credit rule was inapplicable because the borrower did not set the price for the home or represent the value of the property....