David Stern’s Foreclosure Operation Served Default Notice by Bank of America

“DAL received a notice of default from Bank of America on Nov. 5”

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Stern’s DAL Enters Forbearance Agreement With Bank of America Over Credit

A business run by David Stern, the Florida foreclosure lawyer who is under investigation by the state’s attorney general, entered a forbearance agreement with lender Bank of America NA.

The bank agreed not to take action in the period ending Nov. 26 over a default on a revolving line of credit by DAL Group LLC, a unit of Stern’s foreclosure-processing company, DJSP Enterprises Inc., according to a regulatory filing. The credit line, entered into in March, has an outstanding principal balance of about $12 million, DAL said.

Jeffrey Tew, Stern’s lawyer, said earlier this month that Stern’s law firm and DJSP cut about half of their staff after mortgage-financing companies Fannie Mae and Freddie Mac ended ties with Stern. Florida Attorney General Bill McCollum said he is investigating Stern’s law firm because it appears to be submitting “false and misleading” documents in foreclosure cases.

Check out the rest here…

Bank of America finally did something right…

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4closureFraud.org


I sure could use some…

Comments
12 Responses to “David Stern’s Foreclosure Operation Served Default Notice by Bank of America”
  1. PJ says:

    hit an all time low today dropping to 29 CENTS and closed at 42 CENTS… another month and it will be kicked off the exchange. First down Stern, then Gerald Shapiro & the LOGS network. They are both defaulters on mortgages held on properties that housed their fraudulent paper document mills! Baum in NY is already under fire, did he mentor under Shapiro as well? Looks like grandpa Shapiro is throwing them under the foreclousure express bus!

  2. PJ says:

    Gee David and his mentor Gerald Shapiro, aka the grand daddy of foreclosure mills nationwide (aka LOGS )sure seem to default on a whim when it is in their best interest!

  3. msg says:

    Rats ratting the rats out…….They all need to go down

  4. mAGGIE SIMI says:

    hahahha

  5. But Bank of America doesn’t know who to call now to forge the documents to foreclose on him… What a problem that must be!!! Truly a snake eating it’s own tail. What a great way to start the week…

  6. James M says:

    That DJSP Enterprises Inc had an unsecured loan from a client of David Stern law-firm is troubling.

    Were the terms such that there was a side deal ? Was it part of an unethical or illegal profit sharing or fee splitting deal ?

    Did BOA actually expect to get paid back? How ? With the profits from their business with David Stern’s Law firm which in turn was paying DJSP Enterprises?

    Did BOA not expect they would not get paid back, but this was payoff for protecting the fraud by BOA?

  7. Pam Edwards says:

    No more Goldman Sachs employee’s in Federal Reserve.Should be a law if you work for a crook you can’t work for our Gov.I really feel like I missed the boat on this one by not paying attention.

  8. pelucheven says:

    Most likely the documents and the affidavits that BOA will bring to court will also be fake.

    We live in a fake world, in a fake nation, with fake laws, but they want us the real member of U.S. Corp. to pay for their failures and fake profits!@!

  9. MO says:

    … and I hope that another unit of BOA is foreclosing on him at the same time!

  10. l vent says:

    WOW, IT IS ABOUT TIME. IT LOOKS LIKE THINGS MIGHT BE STARTING TO GET REAL IN AMERICA AGAIN!!!! WE CAN’T STOP SPREADING THE WORD AND SHARING THE KNOWLEDGE. WE CAN’T LET OUR GUARD DOWN. RAGE AGAINST THE MACHINE!!!!!

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