Sale of Water/Mold Damaged Property Set Aside; Equitable Principles Apply, Court Says

BRIDGEPORT, Conn. - The sale of a foreclosed property, which was damaged by water and mold after the sale but before the title transfer, was set aside by a Connecticut court stating that equitable principles should apply in a foreclosure case. CitiFinancial Mortgage Co., Inc. v. Sharon Skyers, No. CV02389419S (Conn. Super. Ct., Fairfield Jud. Dist., Bridgeport).

According to the memorandum of decision filed Feb. 27, equitable relief should be granted because, among other reasons, the water and mold damage, which caused a substantial reduction in the market value of the property, was not the fault of any of the …