Roers v. Countrywide Home Loans, Inc., et al., No. 12-3161 (8th Cir. 2013)
Annotate this CasePlaintiffs, Cynthia and Alan Roers, filed suit against Countrywide and others after Countrywide initiated foreclosure proceedings on the ranch property they owned. The court concluded that fact questions existed as to whether the parties were operating under a mutual mistake as to a basic assumption on which the mortgage agreements were made; whether the ranch's acreage and corresponding value were material to the finance agreements for Cynthia's separate properties; and whether plaintiffs have been adversely affected and were, therefore, eligible to seek rescission of the mortgage agreements. The court concluded, however, that the district court did not err in granting Countrywide's motion for summary judgment on Alan's claims for negligent misrepresentation and breach of fiduciary duty. Plaintiffs have waived their remaining claims. Accordingly, the court affirmed in part, reversed in part, and remanded for further proceedings.
Court Description: Civil case - Mortgages. The district court erred in granting the defendant lender summary judgment on plaintiffs' claim for rescission of the three mortgage agreements involving Cynthia Roers' nonmarital property as there were genuine questions of fact as to whether there was a mutual mistake of material fact concerning the property covered by the mortgages and whether the mistake adversely affected the plaintiffs; the court did not err in finding for defendants on plaintiffs' claims for negligent misrepresentation and breach of fiduciary duty.
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