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Wilfredo RIVERA and you will Ines Del C. Rivera , Appellants v. Countrywide Mortgage brokers, INC. , Landsafe Assessment Functions, Inc. , and Shirley Burchett , Appellees .<\/p>\n
Kirsten M. Castaneda , James Yards. Wortman , Robert T. Mowrey , Wear C. Clayton , Locke Lord Bissell & Liddell LLP , Dallas, Jennifer Pettit , Gay, McCall, Isaacks, Gordon, Will get & Roberts, P.C. , Plano, having appellees .<\/p>\n
Wilfredo and you will Ines Del C. , Landsafe Assessment Attributes, Inc. , and you can Shirley P. Burchett . In 9 products, the newest Riveras grumble the new demonstration court erred within the granting realization view toward limitations, giving no proof movements having sumages, giving Burchett summation wisdom on Riveras’ allege out-of fake misrepresentation, and you may awarding attorney’s costs so you can Burchett. I affirm to some extent and you may reverse and you will promote simply.<\/p>\n
e., “household guarantee loan.” TEX. CONST. ways. XVI, 50 (a) (6) (A) – (Q) . ” TEX. CONST. ways. XVI, 50 (a) (6) (B) .<\/p>\n
The borrowed funds were to getting shielded of the its homestead. Nationwide contacted a subsidiary, Landsafe, to track down an appraisal of the property. Landsafe subsequently questioned Burchett perform some assessment. Burchett appraised the newest fair market price of the property at the $350,000 as of brand new closing day. Nationwide loaned the new Riveras $280,000, eighty percent of your own $350 Spring Garden loans<\/a>,000 reasonable market price appraisal. On closure, new Riveras acquired a copy out of Burchett’s appraisal. They were as well as considering and you will finalized a keen “Receipt about Reasonable Market price from Homestead Possessions” claiming the fair market price of the house by the newest closure time is $350,000. That acknowledgment, plus finalized by the Countrywide, states the lending company “does not have any training or reasoning to trust your fair field value of the fresh new Homestead Assets stated in it composed acknowledgment are wrong,” as well as the lender’s bill of the $350,000 fair market value of the property since new closing date per the assessment analysis. Included in the mortgage data within closing are an assessment appraisal gotten from the Countrywide and you can Landsafe served by Jeff McGregor, Jr. That it appraisal shown the brand new $350,000 reasonable market price by Burchett checked overstated together with fair market price of the house try anywhere between $261,040 and $293,580. Good “House Equity Notice Tx House Collateral Cover Appliance (Earliest Lien) ” was also carried out contemporaneously on the family equity mortgage.<\/p>\n The Riveras fell at the rear of within their loan costs, additionally the possessions is planned to own foreclosures by the trustee is the reason product sales within the , if you find yourself talking to next-door neighbor John “Patrick” Bain, Wilfredo Rivera read Bain is an appraiser regarding the home loan world. Bain assessed the newest Riveras’ loan records and you will delivered McGregor’s opinion assessment to help you Wilfredo’s attract.<\/p>\nDuring the 2001 , the Riveras requested that loan off Countrywide<\/h2>\n