[…] Finally, the court pointed out that because plaintiffs had no equity in the property (the loan was underwater by $125,000), they “failed to establish damages.”  The court did not discuss this alternative basis of its holding in much detail, but this court would apparently disagree with the conclusion of a recent opinion from the Fourth District Court of Appeal, which held that a plaintiff with no equity in the property could still pursue a claim for wrongful foreclosure.  See my prior post, Can a Foreclosure be “Wrongful” if the Debtor is Underwater?” […]