The $16.2 million jury verdict in Linza v. PHH has been reduced by the court to $158,000. They argued that punitive damages were inappropriate and the judge agreed. PHH also asked for a new trial, but was denied.
But, is this a loss or a win for the homeowner? If you compare it to the $16.2 million jury verdict it would seem a loss, but if you don't consider the multi-million dollar verdict, then it the picture looks much more like a win for the homeowner... a major win.
Mr. Linza tried to get his loan modified, got the terrible runaround so many others got before losing homes to foreclosure, only this time it ended very differently. This time the homeowner won $158,000 and can now save his home from foreclosure.
I don't know how that cannot be seen as a major victory no matter how you slice it. Saving a home and receiving $158,000 for your trouble is a fantastic outcome and tragically it's one that millions wished could have been their own.
Original Title
Court Reduces Linza v. PHH from $16.7 million to $158,000
The $16.2 million jury verdict in Linza v. PHH has been reduced by the court to $158,000. They argued that punitive damages were inappropriate and the judge agreed. PHH also asked for a new trial, but was denied.
But, is this a loss or a win for the homeowner? If you compare it to the $16.2 million jury verdict it would seem a loss, but if you don't consider the multi-million dollar verdict, then it the picture looks much more like a win for the homeowner... a major win.
Mr. Linza tried to get his loan modified, got the terrible runaround so many others got before losing homes to foreclosure, only this time it ended very differently. This time the homeowner won $158,000 and can now save his home from foreclosure.
I don't know how that cannot be seen as a major victory no matter how you slice it. Saving a home and receiving $158,000 for your trouble is a fantastic outcome and tragically it's one that millions wished could have been their own.
The $16.2 million jury verdict in Linza v. PHH has been reduced by the court to $158,000. They argued that punitive damages were inappropriate and the judge agreed. PHH also asked for a new trial, but was denied.
But, is this a loss or a win for the homeowner? If you compare it to the $16.2 million jury verdict it would seem a loss, but if you don't consider the multi-million dollar verdict, then it the picture looks much more like a win for the homeowner... a major win.
Mr. Linza tried to get his loan modified, got the terrible runaround so many others got before losing homes to foreclosure, only this time it ended very differently. This time the homeowner won $158,000 and can now save his home from foreclosure.
I don't know how that cannot be seen as a major victory no matter how you slice it. Saving a home and receiving $158,000 for your trouble is a fantastic outcome and tragically it's one that millions wished could have been their own.