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Suit Filed Against SunTrust for Violation of TILA

Oct 12, 2010

The law firm of Strauss & Troy law firm has filed a lawsuit against SunTrust Mortgage Inc. and SunTrust Bank Inc. alleging that SunTrust deceived homeowners into paying thousands of dollars for promised home loan modifications under the United States Treasury's Home Affordable Modification Program (HAMP) and then failed to follow through on the agreements. The class action complaint was filed in the U.S. District Court for the Eastern District of Kentucky, by William and Elizabeth Vincent seeking to represent other homeowners who paid for promised mortgage restructurings. HAMP is a federal government program which provides incentives to participating banks to enter into agreements with homeowners to adjust existing mortgages to make them more affordable. The complaint alleges that after accepting the offered modification payments, SunTrust wrongfully refused the permanent modifications and in some cases forced homeowners into defaults. The lawsuit accuses SunTrust of breach of contract, breach of implied covenant of good faith and fair dealing, and violation of Kentucky's Consumer Protection Act and violation of the Truth-in-Lending Act (TILA). For more information, visit www.strausstroy.com or www.suntrust.com.
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Oct 12, 2010
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