We're happy to say that partner Damian Nassiri was quoted in this morning's Los Angeles Times. He was interviewed for an article about the growing number of lawsuits accusing mortgage lenders of dealing unfairly with homeowners -- stringing them along with false promises, intentionally making bureaucratic mistakes and denying permanent loan modifications for no apparent reason. As we have said here many times, we believe all of this is ultimately intended to help the lenders make money at the expense of homeowners. We have sued many times on behalf of clients who, as a result of this unethical behavior, have been incorrectly denied a loan modification or even incorrectly foreclosed, or drained savings they could have used to find new housing and start over.
Here's the quote:
Anaheim lawyer Damian Nassiri said his firm had filed about 100 lawsuits against mortgage lenders since 2007. Earlier suits alleged that lenders misrepresented terms of mortgages or engaged in other shady practices to foist abusive loans on borrowers. Most of his firm's suits now accuse lenders of dealing in bad faith with borrowers who have become delinquent on loans.You can read the entire article here: Lawsuits accuse lenders of sabotaging mortgage modifications.
Worse, Nassiri said, in cases where foreclosure was inevitable, banks misled borrowers into accepting trial loan modifications. The intent, he claimed, was "to get some kind of money out of them" while stalling actions to seize the homes.
"There are too many bad loans for the banks to handle, and they can't dump all these properties out on the market all at once because we would have another Depression," Nassiri said.
If this story sounds all too familiar to you, you should call Howard Law PC to see how we can help. You can reach us anytime through our website or call toll-free at 1-800-872-5925 for a free, confidential case evaluation.