Surf City Investors, L.L.C. v. Lofti-Fard

2025 Ohio 1252
CourtOhio Court of Appeals
DecidedApril 10, 2025
Docket113804
StatusPublished
Cited by1 cases

This text of 2025 Ohio 1252 (Surf City Investors, L.L.C. v. Lofti-Fard) is published on Counsel Stack Legal Research, covering Ohio Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Surf City Investors, L.L.C. v. Lofti-Fard, 2025 Ohio 1252 (Ohio Ct. App. 2025).

Opinion

[Cite as Surf City Investors, L.L.C. v. Lofti-Fard, 2025-Ohio-1252.]

COURT OF APPEALS OF OHIO

EIGHTH APPELLATE DISTRICT COUNTY OF CUYAHOGA

SURF CITY INVESTORS, LLC, :

Plaintiff-Appellee, : No. 113804 v. :

ALI LOFTI-FARD, ET AL., :

Defendants-Appellants. :

JOURNAL ENTRY AND OPINION

JUDGMENT: AFFIRMED RELEASED AND JOURNALIZED: April 10, 2025

Civil Appeal from the Cuyahoga County Court of Common Pleas Case No. CV-20-936739

Appearances:

Walker Novack Legal Group, LLC, Colin R. Beach, and Adam A. Beane, for appellee.

James S. Wertheim LLC, and James S. Wertheim; and Mark Stephen Shearer, for appellants.

MARY J. BOYLE, J.:

Defendants-appellants, Ali Lofti-Fard and Pardis Lofti-Fard (“the

Lofti-Fards”), appeal the trial court’s order and decree of foreclosure. The Lofti-

Fards raise the following assignments of error for review: Assignment of Error I: The trial court erred by failing to require [Surf City] to prove the amount owed and provide an accounting of the amount the noteholder borrowed and paid to the [Lofti-Fards.]

Assignment of Error II: The trial court erred by considering inadmissible evidence.

Assignment of Error III: The trial court erred by inappropriately grant[ing] [Surf City’s] Motion to Vacate the Order granting [the Lofti- Fards’] Summary Judgment Motion.

For the reasons that follow, we affirm.

I. Facts and Procedural History

On May 31, 2002, the Lofti-Fards opened what is commonly known

as a home equity line of credit (“HELOC”) with National City Bank (“NCB”) in the

amount of $85,000.00, for a term of ten years. The HELOC was secured by a

mortgage on the Lofti-Fards’ property located at 2243 Georgia Drive, in Westlake,

Ohio. In the process of obtaining the HELOC, the Lofti-Fards executed two

documents. The first document was titled an “Equity Reserve Agreement,” and the

second document was titled an “Open End Real Estate Mortgage” (“the

Mortgage”). (Surf City’s exhibits A and B.) The “Equity Reserve Agreement” is

specifically described in the Mortgage as a Note and will be referred to hereafter as

“the Note” or “the HELOC.” In November 2009, during the term of the HELOC,

NCB merged with PNC Bank, National Association (“PNC”).1

Although the Note indicates that the HELOC ended in May 2012, it

appears that it was extended to August 31, 2013. (Surf City’s exhibit A). In May

1 At trial, the court took judicial notice of the merger without objection. 2013, PNC began sending monthly notices to the Lofti-Fards advising them that

the HELOC would end and mature on August 31, 2013, unless action was taken by

the Lofti-Fards. (Surf City’s exhibit F.) After the maturity date, PNC sent monthly

past-due notices to the Lofti-Fards, with the amount due including interest and

late fees. (Surf City’s exhibit G.) The first past-due notice, dated September 16,

2013, stated that the amount past due was $297.26. By the second past-due notice,

dated October 14, 2013, the past-due amount stated was $85,412.49, which

ostensibly included the accelerated balance of $84,814.98 plus the $297.26

delineated in the first notice. The Lofti-Fards failed to respond or make any

payments.

Approximately six months later, in April 2014, PNC sent a letter

advising the Lofti-Fards that their delinquent account had been charged off as a

bad debt and that the entire accelerated balance of $87,238.99 was due in full.

(Surf City’s exhibit G.) A year later, in an effort to collect the debt, PNC sent a letter

to the Lofti-Fards offering to settle the debt for $52,343.39. The Lofti-Fards did

not respond. All of the PNC correspondence was sent to the Lofti-Fards’ Westlake

address.

Thereafter, PNC sold and assigned the Note and the Mortgage to US

Mortgage Resolution, LLC (“US Mortgage”), in 2019, which was recorded in

Cuyahoga County, Ohio. Also in 2019, US Mortgage sold and assigned the Note

and the Mortgage to CAN Financial LLC (“CAN Financial”), which was recorded in

Cuyahoga County, Ohio. Finally, CAN Financial sold and assigned the Note and the Mortgage to Surf City, in 2020, which was also recorded in Cuyahoga County,

Ohio.

Surf City filed a foreclosure action in September 2020 in the

Cuyahoga County Court of Common Pleas seeking judgment on the Note and to

foreclose on the Mortgage. They requested the principal amount of $84,814.98,

with interest at the rate of 4.25% from September 28, 2014, as well as court costs.

The Lofti-Fards filed an answer and counterclaims alleging violations of the Ohio

Consumer Sales Practices Act, Federal Debt Collection Practices Act, and class-

action relief (the “counterclaims”). Surf City replied. The case proceeded to the

pretrial and discovery phase.

After over a year of discovery, the Lofti-Fards filed a motion for

summary judgment. They asked the court for judgment in favor of them for their

counterclaims, as well as in favor of them for the claims Surf City filed against

them. The motion was filed on November 28, 2021, and Surf City failed to respond.

The trial court granted summary judgment in favor of the Lofti-Fards on January

20, 2022, and set a hearing date to determine damages.

On January 25, 2022, Surf City filed a Civ.R. 60 (B) motion for relief

from judgment arguing excusable neglect. The Lofti-Fards filed a brief in

opposition, and Surf City replied. The matter proceeded to a hearing before the

magistrate. Thereafter, the magistrate issued a decision granting Surf City’s

motion for relief from judgment. The Lofti-Fards filed objections to the magistrate’s decision. The trial court overruled the objections2 and eventually

adopted the magistrate’s decision.3

Because the Lofti-Fards’ summary judgment motion remained

pending, Surf City filed a brief in opposition. The Lofti-Fards filed a reply. After

briefing was completed, the trial court denied the Lofti-Fards’ motion for summary

judgment and the case was set for trial.

Prior to trial, the Lofti-Fards filed a motion in limine seeking to

exclude all of Surf City’s evidence arguing that the documents were irrelevant or

prejudicial hearsay. This motion was ultimately denied. Although the Lofti-Fards

made a demand for a jury trial, on the day of trial, they waived the jury demand,

and a bench trial ensued.

At trial, Gabe Kass (“Kass”), the managing member of Surf City,

testified that he acquires mortgages for Surf City’s financial portfolio. He testified

that he is familiar with the books and records of Surf City and specifically the

documents as it relates to the Lofti-Fards. Kass testified that Surf City owns the

Lofti-Fards’ Note and Mortgage and testified to the chain of assignments and

2 The Lofti-Fards appealed the trial court’s order overruling the Lofti-Fards’ objections. This court sua sponte, dismissed the appeal for lack of a final appealable order. Surf City Investors, LLD v. Ali Lofti-Fard, 8th Dist. Cuyahoga No. 114848 (May 5, 2022).

3 The Lofti-Fards then appealed the trial court’s decision adopting the magistrate’s

decision. This court again dismissed the appeal explaining that the judgment granting a Civ.R. 60(B) motion for relief from judgment is interlocutory and not subject to appeal. Surf City Investors, LLD v. Ali Lofti-Fard, 8th Dist. Cuyahoga No. 111595 (Sept. 30, 2022). transfers. (Surf City’s exhibits A-E.) He indicated that Surf City was in possession

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In re C.W.
2025 Ohio 1931 (Ohio Court of Appeals, 2025)

Cite This Page — Counsel Stack

Bluebook (online)
2025 Ohio 1252, Counsel Stack Legal Research, https://law.counselstack.com/opinion/surf-city-investors-llc-v-lofti-fard-ohioctapp-2025.