Maryland's intermediate appellate court has affirmed the Baltimore City Circuit Court's grant of summary judgment in favor of Bank of America, which loaned money for a home purchase without paying off a prior lien. Maryland's legal concept of "equitable subrogation" allows Bank of America to leap-frog over the prior lien to the first position. This decision affirms long-standing law, and paves the way for the homeowner to seek modification of her Bank of America loan.
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Civil Procedure Updates, Commercial Law & Contracts Updates, Residential Real Estate Updates
State, 4th Circuit, Maryland |
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