Bank of America hit with class action foreclosure lawsuit
Newscast Media — Bank of America has been hit with a class action on behalf of homeowners seeking damages for alleged disregard of foreclosure process rules. The suit, filed Wednesday in federal court in Newark, N.J., accuses Bank of America and two subsidiaries, LaSalle Bank and BAC Home Loans Servicing, of “an undisciplined rush to seize homes” through “pervasive and willful disregard of knowledge, facts and statutes.”
Bank of America has filed foreclosure proceedings on many mortgages in New Jersey without holding the necessary rights as the mortgagee or assignee at the time of foreclosure, the suit says.
“Many thousands of foreclosures are plainly void under statute and settled New Jersey case law. Many borrowers never obtain statutorily required notices, and many foreclosure suits are filed entirely based in inaccurate recitations concerning ownership of the mortgage, the note, or the assignment,” the suit says.
The putative class in the suit, Beals v. Bank of America, N.A., 10-cv-05427, consists of all named defendants in pending New Jersey foreclosure actions initiated by Bank of America or its affiliates. The complaint includes counts of common-law fraud, breach of the covenant of good faith and fair dealing and violations of the New Jersey Fair Foreclosure Act and Consumer Fraud Act. The plaintiffs cite a recent, well-publicized admission by a Bank of America official in a Massachusetts foreclosure case that she signed thousands of foreclosure complaints without reviewing them.
They also say the fact that the bank and its affiliates, by imposing a moratorium on foreclosures from Oct. 8 to Oct. 18 while reviewing their procedures, “have admitted that in all of their foreclosure cases, they, as a moving party, prosecute their claims with a complete disregard of whether or not they have met their burden.”
The plaintiffs claim they are entitled to compensation for emotional distress, damage to their credit scores and time lost from work for attorney meetings and foreclosure proceedings.
They also seek punitive damages and attorney fees as well as declaratory and injunctive relief dismissing the foreclosures of class members, with prejudice, declaring the mortgages and promissory notes of class members void and unenforceable` and rescinding or reforming the mortgages and promissory notes to conform to plaintiffs’ reasonable expectations.
The suit was brought by Lawrence Friscia, head of a Newark firm that counsels distressed homeowners, and his associate, Jonathan Minkove, who say they’ve found that Bank of America regularly negotiates binding agreements to modify mortgage terms and then fails to honor the terms.
The seven named plaintiffs are all New Jersey residents in danger of foreclosure, among them Jose Grullon of Passaic, N.J., whose binding arbitration agreement ending his foreclosure was ignored by Bank of America, and Tanya Beals of Roselle, N.J., who received a mortgage modification but was nonetheless found in default by Bank of America when she made mortgage payments at her new, reduced rate.
“There’s a difference in the fact pattern [among individual cases] but there’s pattern and a practice of blatant disregard for process,” says Minkove. “Any lawyer who’s worth his salt will tell you process matters.”
And when judges call them to case management conferences in their foreclosure cases, outside counsel for Bank of America regularly fail to show up, says Friscia. Worse still, New Jersey’s judges don’t seem to be bothered by such behavior, he says.
“There’s a shocking deference given to Bank of America on the part of the judicial system,” Friscia says.
In the firm’s negotiations on behalf of homeowners, the bank doesn’t bargain in ood faith, says Minkove. For example, the legal department will tell them to speak to the loss mitigation department, which will order them to send in send in documentation. They comply, but bank officials “regularly say they never received it. Therefore, part of what prompted us to action is [the realization that] this is a systemic problem. The left hand doesn’t speak to the right hand,” Minkove says.
A Bank of America spokesman in New York, T.J. Crawford, referred a reporter’s inquiry about the suit to other spokespersons in California, who did not respond to telephone and e-mail messages.
The case has been assigned to District Judge Katharine Sweeney Hayden.
http://newscastmedia.com/bofaclassactionsuit.htm
Source:
Charles Toutant
New Jersey Law Journal


you can join the BOA lawsuit here…its called the HAMP lawsuite and the attorney is Steve Berman.
http://www.hbsslaw.com/joinacase/suit/337
I have been fighting with Bank of America since they too over the loan which originated with first federal savings and loan in 1977 as my loan has been sold so many times i can hardly keep track.
I have tried to get assistance with no prevail to let bank of america know that i should not still owe on this house that was sold too me by my mother when i was 18 years old, i am now 53 and still paying on a mortage that i know has been paid in full years ago. But i have no help in prooving that.
because they choose to ignore me regarding this matter it drove my husband and i into a chapter 13, not to mention they messed up on the modification lost the paperwork and i had to seek the assistance from Congressman Uptons office to stop them from taking my home.
I know that i have paid this house off years ago can you help? and I would like to join this lawsuit.
I WANT TO START A DAVY CAMPAIGN AS IN DAVY vs GOLIATH.
IF PEOPLE STOPPED DOING BUSINESS WITH THE BANKSTER TERRORISTS, THEY WOULD FALL. HARD AND BEYOND OTHER BAILOUTS THAT TAKES YOUR MONEY IN ORDER FOR THE BANKS TO BE ABLE TO TAKE YOUR HOMES.
TAKE ALL OF YOUR MONEY OUT OF THE NATIONAL BANKS AND CUT UP YOUR CREDIT CARDS.
ONLY DO BUSINESS WITH YOUR LOCAL HOME TOWN BANK.
WE CAN DO THIS.
OUR TAX DOLLARS BAILED THEM OUT. ALL WHILE THE BANKS WERE CALCULATING HOW TO TAKE HOMES. IT IS THE SAME STORY OF THE HOME OWNER OVER AND OVER AGAIN. THEY DID THE SAME TO EVERYONE. IT WAS A PLAN FROM THE GET GO. THE REFI SHUFFLE WAS A CON GAME, IN WHICH THE UNSUSPECTING WERE CAUGHT UP AND LOST. I BELIEVE THIS TO BE A REAL CONSPIRACY AGAINST LAND OWNERS.
ALL THE WHILE THOSE WHO REPRESENT US IN DC, KNEW WHAT WAS GOING ON. IF A SERF CAN FIGURE IT OUT ONCE THEY HAVE BEEN VICTIMIZED, YOU HAD BETTER BELIEVE THAT WASHINGTON DC LET IT HAPPEN. THEY KNEW WHAT KIND OF GAMES WERE BEING PLAYED AND INSTEAD OF CALLING THE BANKS ON THE ILLEGAL, DIRTY, INHUMANE, SCAMS, THEY BAILED THEM OUT WITH OUR MONEY!
FURTHER, NO MATTER WHAT CONDITION THE HOUSE IS IN, BURNED TO THE GROUND OR BADLY VANDALIZED, THE BANK IS INSURED BY THE GOVERNMENT SUBSIDY. THE BANK LOSES NOTHING. THE BANKS GET THE VALUE OF THE LOAN ON THE HOUSE EVEN IF THERE IS NOTHING LEFT OF THE HOUSE! THE BANKS ARE RECEIVING BAIL OUTS AND SUBSIDIES FROM THE VERY PEOPLE THAT THEY ARE WORKING HARD TO DESTROY.
THE BANK DOES NOT LOSE A DIME!
THE BANKS WERE BAILED OUT BY OUR TAX DOLLARS. OUR MONEY IS ALSO COVERING THE BANKS ON LOSSES DUE TO THE CONDITION OF THE HOUSE.
PEOPLE DO NOT UNDERSTAND THAT THE BANK IS COVERED AND LOSES NOTHING NO MATTER WHAT.
MEANWHILE, HOW MANY PEOPLE HAVE COMMITTED SUICIDE OR HAD HEART ATTACKS BECAUSE THEY WERE LOSING THIER HOMES? HOW MANY FAMILIES WILL BE DESTROYED AND NEVER RECOVER? HOW MANY ARE HOMELESS BECAUSE THEY CAN NOT GET BACK ON THEIR FEET? HOW MANY CHILDREN ARE HOMELESS AND SUFFERING BECAUSE THE BANKS HAVE AN EVIL AGENDA?
HOW MANY SERVICE VETS HAVE THEY PUT THE SCREWS TO?
FOR CRYING OUT LOUD, WE HAD A REVOLUTION OVER THE TAXES ON TEA!
WHY ARE WE ALLOWING THE BANKS TO DESTROY THE AMERICAN DREAM? WHY IS OUR GOVERNMENT SUPPORTING THEM IN DOING SO?
OUR GOVERNMENT DOES NOT CARE ABOUT THE HOME OWNER. THE GOVERNMENT WILL ONLY HELP FURTHER DESTROY INDIVIDUALS AND FAMILIES BY NOT PUTTING THE SMACK DOWN ON THE BANKS.
I, AS AN AMERICAN CITIZEN, DO NOT WANT THEM TO GET AWAY WITH DESTROYING THE AMERICAN DREAM. LOWERING THE STANDARD OF LIVING ON MILLIONS OF HARD WORKING AMERICANS IS UNETHICAL, IMMORAL, GREEDY, CORRUPT AND DOWN RIGHT EVIL.
PLEASE, YOU ARE WELCOME TO COPY THIS STATEMENT AND PASTE IT ANYWHERE IN ORDER TO GET THE WORD OUT.
I CALL IT THE DAVY REBELLION!
HOW TO JOIN THE DAVY REBELLION—NO PPENALTIES, NO FEES, NO DUES, NO BACKGOUND CHECKS! (HA!)
TAKE ALL OF YOUR ASSETS OUT OF THE BANKSTER NATIONAL BANKS AND ONLY DO BUSINESS WITH YOUR LOCAL BANKER.
CUT UP YOUR CREDIT CARDS.
DO NOT DO ANY BUSINESS WITH THE NATIONAL BANKS.
LET US. WE, THE PEOPLE, FIGHT FOR JUSTICE OURSELVES AND CIRCUMVENT WASHINGTON, DC. OUR BUREAUCRATS ARE NOT LOOKING OUT FOR WE, THE PEOPLE.
I WILL NOT STAND FOR- OF THE CORPORATION, BY THE CORPORATION, FOR THE CORPORATION!
PLEASE ALERT ALL! JOIN THE DAVY REBELLION TODAY!
[...] Related article: Bank of America Class Action Foreclosure Lawsuit by Homeowners [...]
I was denied Modification from Bank of America after being cut back to work. I also was denied a Haffa short Sale. The Bank said I could do a short sale. I had three buyers fall though and now I have a serious buyer with a deposit. Bank of America Foreclosed anyway. Now the want to kick me out of my house. I am a Veteran with PTS disability from the Vietnam War. Bank of America does not care to help anyone.
We have experienced a great deal of distress from BAC remodification process. You are required to be 2 months behind to qualify and once you enter the 3rd month even though you are in this modification process, the bank or lender starts foreclosure procedures on your home. They didn’t stress that if you do not pay your mortgage the 3rd month…you may loose your home. We started this process in September after 2 other failed attempts by phone by sitting down with one of their specialist who came from out of town just for this purpose. After not hearing anything for 2 months we decided to call to see what was going on and if we may need to pay on our mortgage. We even went to the bank and the bank would not except our money (twice). We were told the it was approved by the first level and there was need for a second level approval. While waiting on that, 4 months in we received a letter from some attorney telling us that a foreclosure would begin. We were wondering how can this happen knowing the we were in the middle of remodification. We got on the phone with the gentleman who is handling our case and we had to call his supervisor for him to return our call. Once he connected us, we learned that we had to resubmit more paperwork because the original paperwork filed back in September had expired. In the meanwhile we received another letter telling us that our house would be foreclosed on December 29th. Stressed out we told him that we would go ahead and pay what we owe. He gave us the information to send the money western union but still told us to hold off. We have been calling him everyday to check on the process and finally tonight he tells us that our loan is on hold and it is no longer in foreclosure because it is know in the modification process, but shouldn’t have been in this process all along? We can’t trust anything he says because we are still receiving conflicting information from BAC about our loan not being approved for modification and applications to remodify our loan.
BAC can’t be trusted and they ought to be ashamed of themselves from putting families through this!!! We are still expecting them to continue the process of foreclosure even after the promises not to.