“The refund goes to the bank and the bank doesn’t fork it over,” Newman said. “There is a substantial amount of money owing to the class.”
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Lawsuit: Bank pocketed court fees in foreclosures
A Madisonville woman sued Bank of America on Thursday for pocketing court fees from foreclosure cases that she says belong to homeowners.
Kathleen Collins accused the bank of fraud, breach of contract, unjust enrichment and other violations in a class-action lawsuit filed in Hamilton County Common Pleas Court.
Collins’ attorney, Robert Newman, said the bank’s practice of keeping the fees could impact thousands of homeowners who should have been reimbursed money when their cases were resolved.
“It’s just not fair for Bank of America to be doing this,” Newman said.
A spokesman for the bank declined comment.
The lawsuit’s accusations revolve around court fees, typically about $550, which the bank is required to pay when filing a foreclosure action. Depending on the length and outcome of the litigation, a portion of those fees often is reimbursed to the bank when the case is over.
Check out the rest here…
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When has illegal made a difference to Bank of America??????? If it is illegal and can harm the homeowners and does not make sense Bank of America does it. If it is legal, fair, the right thing to do they do not do it. I hate this Bank using America in their name. They do not represent what America stands for the ideals this country was built. The Bank represents the bad, the ugly, the dishonest, criminal, Nazi tactics that we hate.
VALERI – (VA Loan Electronic Reporting Interface). IS VALERI A MERS TYPE SYSTEM? IF SO, NEED ANY MORE BE SAID?!
http://www.benefits.va.gov/homeloans/valeri.asp
The swindle continues and will continue….Banks = Ponzi Schemes
You’re absolutely right it is illegal, however unfair is what one is left with since illegal doesn;t matter! It didn;t matter for the banks that played you for additional funds the whole time foreclosing, it didn;t matter for the companys that tossed out innocent employess just too get the job done cheaper! as well as Healthcare that takes all of your additional cash for the best coverage, only too discover after numerous years paying into it they throw you out also!! What a lesson learned and I am not alone! What a sad situation we are in!! In California Govenor Brown is being talked about due too his idea of using the lawsuit for state needs! I hope he does; no where have I seen such fraudulent spending as in the housing industry in the name of helping the poor taken advantage of homeowners?????? They could care less, nothing is given to them, I would like to see where they sent their monies for the original Countrywide that Govenor Brown won while Attorney General!! HA! If you can;t play fair, which you can;t!! every family has different needs, and that includes those of us with only a dog left to care for!!! so please do something smart with it!! Hire more Gang Task Force, use it for education!! we have enough dumming down, think about!! all of those bst have degrees!!! guess they missed the class or morals? that is what happens when you take silent moments out of schools!!!
As usual this is all old news to all homeowners that have fought to save their homes? Just where are you people? As it just continues on, and Bank of America isn;t the only player! their greatest mistake was having a Bank of A;merica Serviding!! which they all should have been terminated minimum 5 yrs ago, yet they refused to listen, and it got even better as all of the loan companys jumped on too use the same firm, then we have of all embarassment Federal Housing buying into whatever they were told!! So just who do the homeowners trust? NO ONE! It is a great time for first time buyers, and those in need, investors who haven;t lost their ass! and for the rest of you, just forget it!!! pocketing the court fees!! Just where have you been? Most homeowners take a look at the back fees/tack that on too your loan over valued75% and they run, funny how the fees disappear when the investor/bank buys it back, guess that is what they will stick the homeowner with on taxes! or maybe the state with so called blight to repair all of those destroyed homes!!! Most homeowners that I know, the homes were in good shape when they left, maybe they shouldn;t have been in such a hurry to toss them out! Here I sit, once again, lied too by their banker representatives! cash for keys( they already have the keys) like being in Las Vegas!!!!!!!! well let me see; the bank only wants to give you 1500, but I am sure we can get more??? 7000/10000 what papers were you reading?? as they just drag it on, while you wait, having absolutely no idea what too do, while they file papers to evict and you get nothing! or whatever measly fee they want too give you!! and for lies and deception, payments made only too drag out a foreclosure!!! I would suggest some think before they asume we are all just dead beats!!$400,000 cash down?? peanuts/paper to a bank!! life savings to average homeowner who will never get it back!
It doesn’t have anything to do with being unfair. It’s illegal.