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April 25, 2019

FORECLOSURE DAMAGES FOR BAD FAITH.

In Shawnee Tabernacle Church v. Guideone Ins., No. 16-5728, 2019 WL 1779829, at *1 (E.D. Pa. April 23, 2019), the Court was confronted with a water loss and claims of breach of contract and insurer bad faith.  The questions addressed in this particular decision were two:  (1) Are damages for foreclosure recoverable here, and (2) What is the proper measure of those damages?

The Court's answers in this case were, first, that damages resulting from foreclosure are a form of consequential damages and are recoverable in such a case.

Second, the proper measure of damages here is the diminution in fair market value of the property as a result of the foreclosure.

To rephrase Mr. William Faulkner's famous phrase about the past, 'Foreclosure isn't dead.  It isn't even past.'

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Posted by on April 25, 2019 at 07:14 AM in Damages, First Party Bad Faith, Foreclosures, Statutory Bad Faith |

Tags: #Consequential Damages, #diminution in fair market value, #Foreclosure Damages, #measure of damages, #Pennsylvania Bad Faith

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