Reverse Mortgage Solutions, Inc. v. Goldwyn
Kansas Court of Appeals
425 P.3d 617 (2018)
- Written by Eric Miller, JD
Facts
Bernice Enlow took out a reverse mortgage—that is, a mortgage whose proceeds are taken out over time and not payable until the borrower dies—using her home as collateral. Enlow died, and her daughter, Paula Goldwyn (defendant), inherited the home. Goldwyn was unwilling or unable to pay the amount that Enlow had drawn against the reverse mortgage. Reverse Mortgage Solutions, Inc. (plaintiff), which held the mortgage, obtained an in rem foreclosure judgment in the amount of $190,446. Reverse Mortgage Solutions then purchased the property for $163,000 as the only bidder in the sheriff’s sale. The court approved the sheriff’s sale. Goldwyn appealed, arguing that the court erred in approving the sale. Goldwyn also challenged the court’s decision to grant her a redemption period of three months rather than a full year.
Rule of Law
Issue
Holding and Reasoning (Leben, J.)
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