Blair Gisi featured in the USFN October 2019 e-Update
Kansas: Total Debt Bids in Kansas
A persistent borrower who has appealed her foreclosure several times has forced the Kansas Court of Appeals to clarify its position on total debt bids.
Upon the third review of this case by the Court of Appeals (as noted in the outset of the opinion), the appellant in JPMorgan Chase Bank, Nat'l Ass'n v. Taylor, 2019 Kan. App. Unpub. LEXIS 575 (Ct. App. Aug. 30, 2019) sought reconsideration of the confirmation of sale arguing it was “manifestly unjust.”
The basis for appellant’s claim was that even though JPMorgan Chase had successfully bid its total debt, the fair market value of the property was $50,000 to $60,000 higher and, therefore, her equity was being “stolen” by JPMorgan Chase.