https://padlet.com/sydney19lawrence/v7lwjnblnf1n Patterson v. CitiMortgage, Inc. en-us 2018-11-13 00:41:23 UTC 2025-11-24 14:14:17 UTC hello@padlet.com sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303525501 A clerical error, referring to the payout amount, was made during a short sale between Victor Patterson and CitiMortgage. Instead of agreeing to a net payout of $423,940, CitiMortgage sent a closing letter to Patterson with an error indicating a payout of $113,968. Patterson agreed to the amount and sent payout funds to CitiMortgage, where the error was finally noticed. Patterson filed a complaint and the district court granted the motion. Patterson appealed. ]]> 2018-11-13 00:43:26 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303525501 sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303527932 Toby Breedlove was falling behind on his mortgage payments to CitiMortgage. In order to avoid foreclosure, he wanted to sell his home to Victor Patterson through a short sale. CitiMortgage wouldn’t accept a short sale unless it generated more profit than a foreclosure. CitiMortgage finally accepted an offer from Patterson expecting the payout to be $423,940. 

]]> 2018-11-13 00:55:02 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303527932 sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528038 Did CitiMortgage’s clerical error prevent the parties from forming a valid contract?]]> 2018-11-13 00:55:33 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528038 sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528118 Georgia courts will not permit an unfair advantage of an offer that contains an obvious mistake. An unilateral mistake “may be ground for rescinding a contract, or refusing to enforce its specific performance.” 

]]> 2018-11-13 00:55:56 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528118 sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528202 CitiMortgage’s mistake was obvious, given the previous negotiations, and Patterson should have noticed this. ]]> 2018-11-13 00:56:21 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528202 sydney19lawrence https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528255 Affirmed. ]]> 2018-11-13 00:56:36 UTC https://padlet.com/sydney19lawrence/v7lwjnblnf1n/wish/303528255