Tuesday, January 21, 2020
Taniguchi v. Restoration Homes
34 Cal.App.5th 1028 - 1st Dist. (A152827) 12/16/19 Opinion on rehearing filed 12/16/19
The court held that after a loan modification, in order to cure the default and reinstate the loan under Civil Code Section 2924c, the borrowers do not have to pay the amount of the earlier default on the original loan, which had been deferred under the modification to the end of the loan term. They only need to pay the missed modified monthly payments that caused the default on the modified loan.