Los Angeles, CA (PRWEB) August 26, 2013
Homeowners in Los Angeles have sued Bank of America and Nationstar Mortgage. In current court documents, both companies are alleged to have violated California Homeowners' Bill of Rights (http://oag.ca.gov/hbor) with recent business practices, among other causes of action - including alleged conspiracy to commit fraud** - leading to several lawsuits across the nation.
“Documents have shown that some Bank of America employees may have admitted to intentionally delaying modifications in exchange for bigger bonuses. Loan servicer Nationstar Mortgage is alleged** to have been participating in similar activity to maximize their fees and profits,” states attorney Sergio J. Siderman, counsel for plaintiffs in Massett v. Bank of America and Nationstar Mortgage.
“I have handled cases in which BofA foreclosed on active duty soldiers while they were on deployment and families that met modification criteria," Siderman says.
The HBOR is relatively new to California law – passed in January 2013 – attorney Siderman observes that the HBOR does provide a welcome shift in the dynamic for homeowners, some of whom are struggling to keep their houses.
Bank of America may just be seeing the tip of the iceberg, according to the Law Offices of Sergio Siderman, as more citizens continue to provide new allegations and others begin to take advantage of protective laws like the HBOR.
Law Offices of Sergio Siderman
700 S. Flower St, Suite 2710
Los Angeles, CA 90017
** Court case: #2:13-cv-00729-MCE-AC, US DISTRICT COURT Eastern District of California - Sacramento