Schultheis v. Ocwen Loan Servicing CA2/6
Nearly a decade ago, appellants Thomas and Toni Schultheis defaulted on an $8 million home loan secured by a deed of trust. They avoided foreclosure by declaring bankruptcy. They obtained a bankruptcy discharge in 2014 by promising to make partial loan payments and sell their house by 2016.
Appellants did not sell their house. Instead, they brought this lawsuit claiming that their loan and trust deed were improperly transferred among financial institutions. Respondents are the current lien holder and loan servicer, and the former trust deed beneficiary and foreclosure trustee.
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