Foreclosure: The Vital Decision Of The Poku Appeals Case

August 30th, 2007 | Tags: Foreclosure

The decision of The Maryland Court of Appeals in the foreclosure case of Kwaku Atta Poku is vital because it will tell on other similar pending cases. Poku is a Columbian cab owner who claims that he lost his house despite refinancing and paying up all possible mortgage dues. More and more foreclosure cases are rolling in and as such this decision will indirectly have a say in future legal battles also.

The pivotal point, explains Richman, one of Poku’s lawyer, is whether one has the right to appeal in a foreclosure matter. Another moot question is – can a property be foreclosed when the lender has complete control of the funds that paid off the mortgage? Poku never had the settlement cheque when the matter was refinanced in 2001. Poku could not prove that he had paid the mortgage because the bank claimed to have lost the original cheque.

The hearing is to take place in December. At least house owners may get a second chance to plead. A verdict might well alter the tracks of the foreclosure route. In Maryland lenders can foreclose within few weeks without having to prove that the borrower has been notified.

Legal opinion of some predicts that many more Pokus will now pitch in. Some members of Maryland General Assembly are thinking of changing laws to allow breathers to house owners caught in the foreclosure grip.

The turn of events evoked an emotional response from Poku. He was at a loss for words. Hitherto all his efforts in court had been in vain. In the first instance the court had upheld his eviction on technical grounds and because of his being unable to produce a required bond. His lawyers say that although he will not get back his house he might win the point as regards damages. His house had been taken over by Washington Mutual Inc, based in Seattle. The company was not willing to comment on the pending court matter. But the very fact that the court has agreed to listen to the appeal has thrilled Poku’s legal group. Usually the court only takes up less than 10% of review cases. Poku has not only lost his house but also his business and credit credentials and is somehow eking out a living in rented quarters thanks to the help of a non-profit organization.

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