Class Action Suit Filed Against Banks in Foreclosure Proceedings

October 28, 2010

The Ferraro Law Firm, Daniels Kashtan and The Burton Firm have filed a class action lawsuit against BAC Home Loans Servicing LP, a subsidiary of Bank of America Corporation, and successor in interest to Countrywide Home Loans Servicing LP, Deutsche Bank National Trust Company, and U.S. Bank on behalf of all those property owners who lost title to their property in foreclosure proceedings based on false and perjurious affidavits filed by the banks and their servicing companies. They seek to restore title to the property owners.
The complaint alleges that the defendants obtained wrongful foreclosures by abusing the court process and submitting affidavits that were false, even though sworn to under penalty of perjury, as the basis for obtaining foreclosure judgments. The property owners' due process rights were violated and the banks used and abused the court rules and process to obtain judgments against all of the class members.
"The rule of law and due process are the cornerstone of our judicial system and we must be able to rely on the integrity of the judicial system before property rights can be taken away," said Juan Bauta II of The Ferraro Law Firm. The courts relied on the banks to provide true and accurate affidavits before granting judgments and taking the property away from the property owners. "In essence, the courts were lied to and the property owners' due process rights were blatantly violated," said Bauta II.
The complaint seeks to have the judgments that the banks obtained with fraudulent affidavits vacated and title restored to the property owners.
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