Class Action Lawsuits Against Mortgage Servicers Super Thread

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reject

LoanSafe Member
Sep 26, 2010
106
0
16
So Moe.... just my general observation but it seems business has really picked up around here lately. I asked in October 2010 how many members and you said:

We have about 33,000 members and 5,000 or so active members who have posted in the last 60 days or less.

Just curious where are the number now? Seems a heck of a lot busier lately.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
reject,


You can see the stats on the forum home page at the bottom. It will show you how many members there are, how many threads, and how many posts. There is also the list of active users.

http://www.loansafe.org/forum/
 
Last edited:

reject

LoanSafe Member
Sep 26, 2010
106
0
16
Thanks Cat - that is about some crazy information. Members have doubled, but the guests are what really make up a huge portion of the people using the site. 1300 people don't have anything better to do on Sunday morning than worry about their housing situation and FAMILIES (me included!). That is really sad - but thank goodness we all have this site where we can share information and know that we aren't all total rejects! THANKS Loansafe!
 

reject

LoanSafe Member
Sep 26, 2010
106
0
16
re-reading my post - I meant it is sad that we are having to spend time worrying about this stuff - I'm sure we all have better things we could be doing.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
I agree that is sad, Sundays should be spent with family and friends doing something special away from the mess to take ones mind off it for the day. Resting mentally, physically, and emotionally is extremely important during these tough times, even if it is just for a day.
 

NewbieFed

LoanSafe Member
Jun 6, 2011
86
3
8
Notice of Mass Tort Lawsuit Against Countrywide and BofA Mailing, re: Real Estate Law Center PC

Received the aforementioned mailing the other day. Called and discovered a Chad Pratt, Esq, is charging $5000 for people who owned either CW or BofA mortgages, to join their "Mass Tort Lawsuit". They have 200 CW/BofA customers already and are looking to add more complainants. I wondered if any of you had heard of this Pratt or Real Estate Law Center PC, 30 N. Raymond Ave., Pasadena, CA 91103. I was also told that by joining the lawsuit and paying the $5000 that they would represent me in any foreclosure actions that BofA may bring against me. They believe they will win their case and stated they are not going after monetary damages, but rather an 80 percent principal reduction, a 2 percent principal and interest payment or less and monetary damages for the complainants but not themselves! Seems a little strange to me that one must pay to join such a planned lawsuit. On the reverse side of their letter they document Superior Court of California Case No. BC463386.

I'm awaiting further details of this litigation and "testimonials" from some of the complainants. I'm very skeptical of this and would love to hear your thoughts on this.

Thanks for all of the great effort on this site.
 

despritfreya

LoanSafe Member
Sep 8, 2011
369
53
28
If an attny is soliciting that you pay him $5k to "join a class action" it is probably not a good thing. Here is the link to the California State Bar for this attny.

State Bar of CA :: Chad Thomas Pratt

While he currently does not have any disciplinary action against him, it may be only a matter of time. There are at least 3 law firms in California that are under investigation by the AG and the State Bar for deceptive practices as it relates to similar solicitations.

Des.
 

Hopeful In Hawaii

LoanSafe Member
Apr 10, 2010
595
2
0
Hope this is of help to others..

I am suing BoA for fraud and UDAP ( unfair and deceptive acts and practices ) and BOA moved the complaint to federal court and then filed a motion to dismiss ( of course ).

The judge just came back with her 36 page decision.

I am looking forward to a jury trial!

CRILLEY v. BofA | Dist. Court of HAWAII ?allegedly fraudulent representations?UDAP claim, scheme to artificially extend the loan modification process?

Excerpts


The crux of Plaintiffs’ UDAP claim is that BAC’s
actions establish that it was engaged in a scheme in which it
never intended to modify Plaintiffs’ loan. Instead, BAC intended
to keep Plaintiffs’ loan “in default and arrears for as long as
possible before ultimately foreclosing to maximize its fees and
the payments it can extract from Plaintiffs.†[Complaint at
¶ 142.] This Court finds that Plaintiffs have sufficiently pled
the time, place, and content of the allegedly fraudulent
representations which form the basis of the UDAP claim. Further,
the Court finds that Plaintiffs’ allegations of Defendant’s
scheme to artificially extend the loan modification process to
maximize fees and payments prior to an inevitable foreclosure
sufficiently allege an unfair or deceptive act or practice.

As to Plaintiffs’ damages, the Complaint alleges that:
BAC’s “false representations that Plaintiffs would only qualify
for loan modification if they remained delinquent on their
mortgage payments has caused Plaintiffs significant damage to
their credit scoresâ€; and, but for BAC’s misrepresentations,
“Plaintiffs would have sought alternate foreclosure avoidance
relief..

This Court FINDS that Plaintiffs’ allegations are plausible
and are sufficient to satisfy the pleading requirement to allege
the damages suffered as a result of the alleged UDAP violation.
This Court therefore FINDS that Plaintiffs have alleged
a plausible UDAP claim, and the Court DENIES Defendant’s Motion
as to Count II.


The Court finds that Plaintiffs have sufficiently pled the other elements of their negligence claim
and that Plaintiffs have stated a plausible negligence claim.
Defendant’s Motion is therefore DENIED as to Count I.

 

Hopeful In Hawaii

LoanSafe Member
Apr 10, 2010
595
2
0
I fully understand and so do the banks!

I can not afford it either and I may lose everything, but if I do not, I hope it will set precedence to help others so they do not have to go through this.
 

TomEason

LoanSafe Guide
Jun 18, 2009
12,390
85
48
SF Bay Area CA
Hopeful In Hawaii

Thanks for your post. I certainly hope you prevail in your litigation. Although your case won't likely be considered legal precedent, it would nonetheless be a moral victory, and an optimistic sign that some courts are turning the corner and starting to favor borrowers' well argued and pled positions.

Kudos to you for having spent the money and taken the litigation risk.
 

hate bofa

LoanSafe Member
Sep 9, 2012
3
0
0
I recently spoke with someone at an agency listed on TV. Spoke very well, but Pratt is the atty he wants me to speak to. I have always been told not to spend a dime joining these class action suits. Glad I started researching here Thanks for saving me grief!