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In a lawsuit against Bank of America, where the homeowner had defaulted on a previous modification after obtaining a PACE/HERO loan that significantly increased their property taxes, we settled the lawsuit resulting in a new 40 year loan at an interest rate of 3% and a refund equal to 1/3 of the home improvement costs the PACE/HERO loan was used for. This case was initiated in 2019 and settled in 2020.
In a lawsuit against Ocwen Financial and Deutsche Bank, where the homeowner had been in default for well over 6 years, we obtained a restraining order against the foreclosure and subsequently settled the lawsuit resulting in our client receiving a discounted payoff of nearly $900,000 putting them in position to refinance the loan with one of our preferred lenders and keep their home. With a new principle balance of $839,000, a fair market value of $1,500,000, our client was able to move on with a second chance at life. This case was initiated in 2018 and settled in 2019.
In a lawsuit against SN Servicing and US Bank, where the homeowner had been in default for nearly ten years and been in and out of bankruptcy and had four different loan services refuse to modify the loan, we were able to obtain a restraining order against the foreclosure and settled the lawsuit, resulting in our client receiving a new 40 year loan at an interest rate of 4%. This case was initiated in 2019 and settled in 2020.
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Aaron Berger Law - Los Angeles