Home Loans and Support

Anyone sued the Bank for Fraud and Won???????

Discussion in 'Success Stories - Homeowners Who Fought Back & Won' started by Hector_Garcia, Aug 28, 2009.

  1. Hector_Garcia

    Hector_Garcia LoanSafe Member

    Hello,
    There's much talk on this forum about Predatory Lending and mortgage Fraud. We have been encouraged to have our loan docs examined in order to determine if fraud was committed. We may have a case for fraud, however we are not sure if it's worth retaining attorney and suing the lender for damages or maybe even get the loan modified.

    My question is this: How many of you were victims of predatory lending or Fraud from a bank or loan officers and with help from attorney have been successful in suing the bank or loan consultant for damages or a very favorable loan modification??? Please explain!
  2. susieQ

    susieQ LoanSafe Member

    I too would like to know about this subject. Sure hope someone answers soon.:)
  3. so-cal-gal

    so-cal-gal LoanSafe Member

    For the CW case of CW issuing mortgage modification contracts which the borrower accepts, gets notarized and complies with completely by returning the package on time and with any requested documentation AND WHICH CW mysteriously decides NOT TO IMPLEMENT:

    YES, CW has been successfully sued, and FRAUD is only PART of the CHARGES. They have been rushing to settle each of these out of court as they receive the law suits. The offer to implement the mod 'this time' will require a non-disclosure agreement, it will drop all arrearages from the loan and a tiny payment that does not cover the borrower's attorney fees will be offered.

    Now in southern CA we may have a chance of a class action suit. It takes 3 cases, right? It depends on how the cases need to be handled, as far as whether we form a 'class'.

    For those of you having trouble getting an OFFER of a mod: BofA has admitted to false and misleading advertising regarding the availability of mods. That is the same charge they were found to be in non-compliance with in the original case that the CA AG took CW to court over, only that time it was the advertising of the loans CW had on offer as being good for the borrower WHEN THEY WERE NOT.

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