Thursday, May 23, 2013

Above the law

"A West Sacramento man is among the first in the state to use California's new Homeowner Bill of Rights to stop a bank from foreclosing on his home, and experts say the case marks a shift in a legal system that has traditionally favored lenders.

Kevin Singh, a house painter, secured a federal court order earlier this month after Bank of America allegedly engaged in a now-forbidden practice called dual tracking. The behavior, in which a bank proceeds with foreclosure while negotiating with a borrower for a loan modification, has been widely criticized as deceptive.

Experts said Singh's case was the first instance in which a judge issued a preliminary injunction to halt a foreclosure auction under the Homeowner Bill of Rights.

This week, North Carolina-based Bank of America was negotiating to resolve the case, said Singh's lawyer, Sacramento attorney Aldon Bolanos. Any settlement would have to include rescinding the foreclosure, he said. The Homeowner Bill of Rights also provides for attorneys fees for winning an injunction."

Even with all the fines and laws they still think they are above it.

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