Class Action Against CitiMortgage for Loan Modification Fraud
I volunteer at the Public Counsel Bankruptcy Self Help Desk in Los Angeles a few times per month. During that time I have spoken to people who were forced into Bankruptcy by their Mortgage Lenders who, simply stated, defrauded the homeowners on loan modifications.
I learned from other attorneys who work at the Public Counsel Bankruptcy Self Help Desk that their stories are not uncommon.
The story goes like this: The lender gives the homeowner a “temporary” or “trial” loan modification. The homeowner performs 100% during this trial period; never late on a single payment. At the end of the 2 year trial period, however, the lender tells the homeowner that the homeowner doesn’t qualify for a permanent loan modification!!??
It gets worse. “We [the Lender] want the $25,000 in the deferred payments NOW! No re-payment plan is available. It’s Pay Now or We [the Lender/Servicer/Purported Note Holder(s)/Whoever] Will Foreclose!
Apparently facts exist that may show CitiMortgage indulges or indulged in abusive loan modification behavior and a class action(s) against CitiMortgage is presently being pursued by the law firm, Milberg, LLP.
For more information see: http://cases.milberg.com/citimortgage/
Resources for Mortgage Modification are listed in Class Action Against Bank of America for Abusive Loan Modification Consolidated with over 20 Other Action
Related post: http://wfhmcaught.blogspot.com/2011/03/why-is-iowas-attorney-general-helping.htmlhttp://wfhmcaught.blogspot.com/2011/03/why-is-iowas-attorney-general-helping.html
Like this:
Filed under: Bankruptcy, Class Action, foreclosure, loan modification, Mortgages, Real Estate Tagged: | Bankruptcy, CitiMortgage, Class Action, foreclosure, lenders, loan modfication, loan modifications, Los Angeles, mortgage default, trial loan modification
[...] I volunteer at the Public Counsel Bankruptcy Self Help Desk in Los Angeles a few times per month. During that time I have spoken to people who were pushed into Bankruptcy by their Mortgage Lender who, simply stated, defrauded the homeowner on a loan modification. The story goes like this: The lender gave the homeowner a "temporary" or "trial" loan modification. The homeowner performed 100% during this trial period, never late on a payment. A … Read More [...]
[...] number of 6:10-cv-00051. A copy of the Complaint in that action on 6-29-10 is attached. See CitiMortgage Loan Modification Abuse? Class Action Filed . Possible Sources for Help against Abusive Loan Modification If you have been a victim of loan [...]