Tens of thousands of delinquent mortgage squatters may be awarded free housing if attorneys prevail with their statutory claims.
"In law, unjust enrichment is where one person is unjustly or by chance enriched at the expense of another, and an obligation to make restitution arises, regardless of liability for wrongdoing," according to Wikipedia. In terms of delinquent mortgage squatters, they are clearly being enriched at the expense of the lender who provided a loan in good faith on the assumption the loan would be repaid with interest. Our real estate finance system functions because lenders believe they will get their money back either through repayment or foreclosure if the borrower becomes delinquent. If lenders didn't have this assurance, they simply wouldn't loan the money. Would you?
At common law, a claim based on unjust enrichment can be submitted to five stages[READ MORE]