Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Monday, July 23, 2012
BofA Duped Me Into Loan Modification When It Really Wants To Foreclose, Says Texas Woman In Lawsuit
In Jefferson County, Texas, The Southeast Texas Record reports:
A woman claims Bank of America wrongly foreclosed on her property despite its agreement to work out a modification with her.
Shayla Zuzukin claims that after she fell behind on her mortgage payments to Bank of America, it agreed to enter into a modification with her to allow her to catch up on her note.
On April 23, Zuzukin had arranged to meet with representatives from Bank of America to discuss the modification, but no one from the company arrived at her home, according to the complaint filed June 29 in Jefferson County District Court.
"However, and much to her shock and chagrin, plaintiff found out that defendants never actually intended to modify her note, misrepresented facts to her that led her to rely on their statements, only to receive notice from defendants that her house was going to be foreclosed on July 3, 2012," the suit states.
Since Zuzukin bought her home in March 2008, she has invested $30,000 and will lose all that money if the bank does foreclose on her property, the complaint says.
Had she known of the bank's intentions, Zuzukin claims she would have made other plans instead of relying on a modification to help her out.
She alleges breach of contract and misrepresentation against Bank of America. In her complaint, Zuzukin is seeking a temporary restraining order that prohibits the bank from foreclosing on her property and other relief the court deems just.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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