1/17/2009 12:00:00 AM
Per MSN Money, a flood of legal claims -- of fraud, discrimination, predatory lending and more -- has followed the sharp downturn in the real-estate market. Some borrowers are even seeking compensation for the hits to their credit ratings. An example given by MSN Money is of this family: For nearly a year, Lori and Mark Pestana of Boston desperately tried to modify their home loan in hopes of avoiding foreclosure and eventual eviction. The Pestanas maintain that Washington Mutual ignored their mortgage-modification application and numerous attempts to contact bank officials by phone. In the end, the bank filed a foreclosure action. Now the Pestanas are fighting back in court. The link for MSN Money reporting this is below. You can read the entire article. http://articles.moneycentral.msn.com/Investing/StockInvestingTrading/housing-crash-spawns-big-lawsuits.aspx#pageTopAchor
For nearly a year, Lori and Mark Pestana of Boston desperately tried to modify their home loan in hopes of avoiding foreclosure and eventual eviction. The Pestanas maintain that Washington Mutual ignored their mortgage-modification application and numerous attempts to contact bank officials by phone. In the end, the bank filed a foreclosure action.
Now the Pestanas are fighting back in court.
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