Law Offices of Jonathan Stein Blocks Foreclosure In $10-million Lender Liability Lawsuit
2013 construction picture Jonathan represented a homeowner who was building his dream house on Newport Coast when the FDIC took over the construction lender. Its successor, One West Bank, sought over $10 million in principal and interest, even though only $6.2 million in construction funds were released to the homeowner. Jonathan filed the initial complaint, litigated successfully in federal and state court, and finally filed a motion for preliminary injunction against foreclosure by One West Bank. Jonathan’s motion was granted after a long series of hearings on over 120 exhibits and expert declarations. The construction loan was originally due to be repaid in November 2009. The injunction obtained has allowed the homeowner to finish construction and provides ample opportunity for refinancing at competitive rates.