9:00am - 6:00pm
Mon - Fri (Sat. Special Hours)
7333 Coral Way, Miami, FL 33155
Select Page

A popular bank has agreed to pay over $6 million to a couple in another state after a judge decided that the bank had harassed the couple and forced them out of their home illegally. The mortgage unit of the bank is accused of conducting an illegal foreclosure, causing the couple to live out a nightmare. Although this did not happen in Florida, similar cases occur each year in the state.

According to the report, the judge in this case originally ordered the bank to pay the couple $46 million. The judge stated in his ruling that the illegal foreclosure by the bank had left the couple demoralized and battle-fatigued. The modification process on the couple’s mortgage and subsequent mistaken foreclosure had a devastating effect on them.

Both parties agreed to this proposed settlement in order to end the nightmare that has been very personal and long-lasting and has had an impact on every part of the each family member’s life, according to the court papers. The family is agreeing to a lower settlement so that they can simply move on from this experience. The judge has to approve the lowered settlement agreement.

Several inappropriate moves by the bank brought this case to court. Loan modification requests were lost, bankruptcy stays were ignored, bank officials harassed the couple, and requests by the couple were denied without cause. The woman ended up having a stress-related heart attack and the man attempted suicide. They are no longer physically or emotionally able to participate in court hearings, according to their lawyer.

The foreclosure process is one that must be conducted properly. When banks fail to do so, the homeowners may have a case against them in court. Anyone who is facing foreclosure in Florida may choose to consult with a bankruptcy lawyer who can guide the client through the process and help make sure that the bank or loan holder is handling the case appropriately. Once bankruptcy has been filed, the foreclosure must be stayed.

Source: foxbusiness.com, “Bank of America to Pay $6 Million to Bankrupt Couple Evicted From Home“, Katy Stech, Aug. 17, 2017