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Paper with Heading "Mortgage Loan Modification"

If a mortgage loan modification results in all or part of the loan requiring a balloon payment, California law requires that the modifying bank properly inform the mortgage holders. But the complaint for this class action claims that Wells Fargo provided no such notice to plaintiffs Joseph and Lisa Wyman that they would owe a balloon payment of $30,000 at the end of the term of their mortgage. The sole count alleged by the complaint is the violation of the California Civil Code § 2966 requiring notification of the balloon payment.

Chase Bank Branch

Chase Bank USA is putting up $11.5 million to settle a class action alleging that it did not update its reports to credit agencies when accounts sold to debt buyers were discharged in Chapter 7 bankruptcy proceedings. The complaint claims that the account holders’ credit reports continued to reflect that the debts were sold or charged off, negatively affecting their ability to get credit.

Man with Money Bad Leaning on House

The complaint for this class action alleges that Nationstar Mortgage, which does business under the name Mr. Cooper, does not pay mortgage holders interest on the amounts held in escrow, or in impound accounts, despite laws requiring this. Among other things, the complaint cites California’s Unfair Competition Law and breach of contract.

Bank of America Logo

Plaintiff Lisa Brown says that Bank of America charged her a Withdrawal Limit Fee when she withdrew money from her savings account, even though she had made a total of only six withdrawals during the previous statement cycle. Brown, and the complaint for this class action, claim that this is a breach of contract, violating the agreement for Brown’s account.

JPMorgan Chase Sign in Front of Building

People make painstaking payments over many years to pay off a mortgage, but it may take only a short run of difficulty to undo it all and lead to the disaster of foreclosure. The complaint for this class action claims that JPMorgan Chase Bank, NA foreclosed on the home of plaintiffs Dhimiter Llori and Natalia Hoshovsky before it was legally permitted to do so. It cites paragraph 9(d) of the mortgage contract, limiting a lender’s right to foreclose, and then a federal regulation requiring a face-to-face meeting between mortgagor and mortagee.

New England Style Home

Do you own a home in New York State? Do you pay a portion of your property taxes or insurance when you pay your mortgage each month? If so, you may be entitled to earn interest on those funds. We have seen signs that Bank of America is not complying with this consumer-oriented law, and we’re investigating to see if a class action is needed.

List of Overdraft Charges

Britney Lawrence took two rides with Uber, one for $7.53 and the other for $8.21. Unfortunately, the rides overdrew her bank account, and she was charged an additional $35 in overdraft fees for each ride. N. Pantelyat used her Bank of America debit card for two Uber rides, one billed at $10 and the other at $7.67. The bank paid both, but also charged her an overdraft fee for each payment. The legal problem in both of these cases is that the two banks involved claimed in their account agreements that they would only pay “recurring” charges that created an overdraft. The Uber rides—and other charges made through popular apps—may be being misclassified, so that customers are forced to pay overdraft charges they should have incurred.

Bank of America Sign

Bank of America is settling a class action alleging that it falsely classified debit charges for Uber rides as recurring transactions, paid them, then charged the customers overdraft fees.

Capital One ATM

According to the complaint for this class action, Capital One, NA charges customers for balance inquiries at its own in-network ATMs, and customers who use out-of-network (OON) ATMs may end up paying as many as three fees for a balance inquiry and withdrawal. The complaint claims that the bank is guilty of breach of contract and breach of the covenant of good faith and fair dealing, among other things.

Hands Offering Mortgage Paper and Pen

LoanCare, LLC is a mortgage lender who makes loans secured by real estate in California, so the complaint for this class action says it must follow the California law, including the law requiring it to pay borrowers a minimum of 2% interest on money put in impound escrow accounts. LoanCare appears not to do so, and the complaint claim that the company has violated California’s Unfair Business Practices Act and breached its contracts. 

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