• Archives

  • Blog Stats

    • 666,938 hits
  • Categories

Sundquist v. Bank of America: $45 Million for violations of Automatic Stay

Livinglies's Weblog

by the LendingLies Team

In most cases, the damages awarded to homeowners are so paltry that they do little to punish unlawful conduct or to deter future behavior by servicers.  The banks continue their crime spree unabated.  Those days may be over.  A bankruptcy court in Sacramento, California recently issued a $45 million dollar punishment in a case of a wrongful home foreclosure and eviction in a deliberate violation of the automatic stay.

The court described the plaintiff-debtors’ treatment by defendant Bank of America as “Kafkaesque”, and found the homeowner’s deeply emotional testimony (one of them attempted suicide during the ordeal) completely credible, awarding more than $1 million in actual damages for the loss of their home and subsequent emotional distress. The court noted that Bank of America had repeatedly settled cases with federal and state regulators for hundreds of millions, and even billions, of dollars, in recognition of serious…

View original post 177 more words

Advertisements

What is your opinion?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: