Friday, November 13, 2015

Lawsuit: Loan Servicer Unlawfully Used Threats, Deception To Squeeze $10K+ Out Of Homeowner Without Applying Money Towards Unpaid Debt Balance

In Allendale, New Jersey, NorthJersey.com reports:
  • An Allendale couple facing possible foreclosure says their loan was acquired by a Staten Island real estate investment company that unlawfully used threats and deception to get them to make more than $10,000 in loan payments that were never applied to their debt.

    William and Terri Rabolli filed a federal lawsuit on Oct. 9 in Newark alleging that Cornerstone Realty Partners Inc. of Staten Island convinced the homeowners that only by paying mortgage-servicer Cornerstone could they get a lender to refinance their loan and avoid foreclosure. Between April and August 2012, the Rabollis say they paid Cornerstone $10,268 in four separate checks. However, the money was never applied to their mortgage loan account, and the homeowners stopped making payments, despite demands that they continue to pay, the Rabollis allege.

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