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Bank of America: Illegal Foreclosure and Harassment Lead to $6M Settlement

Tue Sep 19, 2017 by on Foreclosure Fraud

bank-of-america-settlement

The following is not a reality show; rather, it is a true story that highlights the worst of the financial crisis.

Erik and Renee Sundquist reached a settlement with Bank of America where the bank has agreed to pay them $6 million after eight grueling years of foreclosure.  The Sundquist family endured a stress-induced heart attack and a suicide attempt, and a “long personal and legal nightmare that has impacted every facet of their and their sons’ lives,” according to court papers.

Being no stranger to fines, penalties, and settlements for wrongdoing, Bank of America has paid nearly $60 billion since the 2008 financial crisis for violations including tax evasion, money laundering, fraud, and misconduct.

When It Rains, It Pours

Events began to unfold in 2008 when the couple took out a mortgage made by Countrywide Financial, which was later acquired by Bank of America. The family sought a modification, at which time a Bank of America representative told them that they needed to miss three payments and default before their mortgage could be modified.

Despite knowing that this would damage their credit score, the couple proceeded with bank’s advice and defaulted. However, the bank rejected more than 20 modification requests, claiming that the applications were “stale”, incomplete, insufficient, and even “lost”. Despite the Sundquists’ subsequent bankruptcy filing, Bank of America proceeded with the planned foreclosure auction, violating the automatic stay.

Realizing it was in violation of the automatic stay, Bank of America reinstated the family as title holders without notifying them.  When the family moved back in, they discovered their home had been vandalized, and that there was a $20,000 fine from their HOA for failing to keep up with the landscaping.

The end of a “state of battle-fatigued demoralization”

This entire ordeal is cited as the cause of Renee Sundquist’s heart attack and Erik’s attempted suicide, leading to what the judge described as a “state of battle-fatigued demoralization”.  The judge awarded the couple $6 million in damages, and also awarded several legal organizations that helped fight the financial abuse an astounding $40 million in punitive damages.

The Sundquists’ legal nightmare is over.  Unfortunately, the Sundquists had to pay the price for reprehensible and unlawful conduct that no one should ever have to endure.

 

 

From the trenches,

Roy Oppenheim

8 responses to “Bank of America: Illegal Foreclosure and Harassment Lead to $6M Settlement”

  1. tora says:

    i did not received any settlement from bac for not approving my loan modidification in 2011 and forclosed on my home i was a single parent at the time

  2. Kathy Jackson says:

    We live in Virginia. Ours is a long story starting in 2009 we bought in 2007. We were told we could do a short sale by BofA. We had a great offer and then they denied the short sale due to several reasons they said my heath was not bad enough. My disability was hampering me from going up two sets of steps in our townhome. We could not sell due to being 100k underwater on a 255.000 mort. I believe our mortgage paperwork may be part of the BofA Countrywide debacle. I am sorry I am rambling. As I said they denied the short sale they invited me to do. I did not send in the paperwork. The normal for them. They foreclosed on us in 2015 for less than our short sale amount. I have boxes of letters that contradict each other. I have letters giving me five different customer service reps in one month. Yes my husband and I did suffer personal and financial losses. If the statute of limitations in Virginia has not run out I know we have a great case against them. If you can’t halp me could you give me the name of an atty that could help me. I have great records. Thank You Kathy Jackson

  3. anon says:

    Someone is san diego is going through it too, only they have real evidence of major fraud.

  4. Penny Tackach says:

    I need ASAP in a foreclosure that has a hearing coming up soon. Around 2007ish BOA started calling me in CT threatening foreclosure. We did not miss a payment or anything. Then harassment started and continued and then we were locked out in 2010 and served here in FL 2015 with a foreclosure. They scared us out of a home we put all my retirement savings into and doubled the square footage, we ended up filing bankruptcy and it was discharged in Feb of ’09, but we paid into 2011 the mortgage and never missed a payment. But they wrongly kept charging 95. late fee every month, which we were not, they wouldn’t stop this. We currently live here in FL. Even after the bankrupt. they would not remove themselves from our credit reports even though they were told to. We currently don’t want the house because of what they put us though and all the costs. Please call, 203-751-2868 tomorrow, if possible. Tues. Thank you, Penny Tackach

  5. C.J. Savage says:

    Have gone through the same thing only went thru a couple of attorneys that were paid off by the bank and finally got a great attorney, APEX that had just started moving our case into the Federal Court then they suddenly closed up, went out of business. I am again looking for an attorney to represent us in ILLINOIS. Have 125 bank violations that include forgery, fraud, harassment, elderly abuse, racketerring, etc. Anyone know where I can get an attorney to take our case?

  6. RICK LOYD says:

    Hi ,I have been involved in Countrywide/Bank of American Since 2008, I can’t hold on much longer.This Morning Iv’e started to prepare a reason for how this has become the worst of my 57 years .Iv’e tried to get out of this nightmare that has cost me everything I have worked for my entire life. I never will except that doing the right that I thought I should do by fighting back would ever come to letting Countrywide/ Bank America take the dream away of being a debt free owner of a home some day. I have everything that proves ,every law that contains unfair lending practices,transfers of tile,transfer of deed,mishandled loan agreements,falsified initials on 14 pages of security instruments if with having no way out of this loan Agreement Today .Iv’e bought 4 homes since 1987 to this home today as the 4th home. I never missed a payment 33 yrs, credit score always been at least 750 or higher. Since Countrywide in 2005 and Bank of America taking over in 2008 with forcing not to let me do a modification because of there wrongful , greedy ,so called trying to help by giving me a 10 year interest only modification i never applied for during the time of 2008 has became 10 years later for me to become the next VICTIM of SUFFERING from the 2008 CRISIS To lose a home as only Trying not foreclose for the last 10 yrs.The feelings and thoughts going through my mind right now is There’s nothing more embarrassing to face than Iv’e failed because knowing Bank of America ,has hidden behind the facts ,of coming forward to admit any wrongful,lending in my case Today. Its a SAD DAY, and Very ugly World we live in as BANK OF AMERICA is still here doing what they do best stealing peoples money that had in trusting them with our MONEY’S. Amen God bless the rest of the victims of the crisis of 2008 . Bank of America needs to go away … THERE THIEF’S …

  7. Elena says:

    I was illegally foreclosed by Goldman Sachs who acted under glimpse of “Deutsche Bank as Trustee for non-existing Trust and “Wells Fargo” as a Servicer. Chicago Judge Robert E. Senechalle, Jr, who was a brother-in-law to banks;a lawyers top partner, criminally concealed material evidence – purportedly “original” Note without any assignments from my case records to defraud me and the Higher Court who never saw the documents based on which Senechalle awarded my property to Goldman Sachs. When I tried to reverse, Senechalle threatened me from the bench with “contempt”; invited corrupt clown-impersonator lawyer O’Malley from AG Foxx’s office who was sitting at the hearing and posing as a “criminal prosecutor” who will put me in jail. When I appealed this void denial, “Judge” Senechalle hired three sheriffs to deliver me his bogus “Rule to Show Cause” while he had no jurisdiction due to my Appeal. In Chicago bullies and main criminals are Judges who enable and support banks fraud upon the Court – and regularly commit it themselves.

  8. rick loyd says:

    On September 5 th I responded after reading the story of the worst of the crisis with the Sundquist case. Roy Oppenheim you should feel very proud for taking on Bank of America, Great Job. Bank America had the world to think they were going help the mortgage loans from the misleading fraudulent mortgage loans of Country wide Greed to succeed with Bank of America being involved doing the same as years have past showing up as today June 20 2020 doing the same fraudulent acts of the laws and paying fines to hide behind the truth of it all.It’s not fair to allow Bank of America feel there above the laws ,and keep letting them do the same to hard working honest people trying to own a home. Bank of America walked away taking $438k from the time of 2008 to 2018 as selling my loan off the day its 10 yr interest only loan they profited from and tells me as of a law suit I recently have been involved that they will settle for $6k if I sign a wavier that I can’t try and sue them again .I feel sick as if my Attorney was paid off to continue pressuring me to sign this 10 page agreement as I’m refusing to do as all 10 charges were answered as time -barred .I’m not done with moving on knowing Bank of America walked a way with the $438k and basically feels proud about it as saying to bad , You should of filed this law suit sooner. As my new loan service refusing any-type of forgiveness stating there not the originator on the loan and Bank of America stating with documents to back up this tells me they no longer have to answer to my questions about this loan .This leaves me in a world of a loan I’m as a hostage situation , unless I refinance . I don’t make the income to qualify for this loan amount that has been fraudulently sold from the beginning as why in 2008 I had to decide to foreclose or continue with a 10 yr interest only loan to have a roof over my head. I’m almost out of all my retirement moneys and savings to stay alive today as on March 18 2020 Rushmore loan service has put me in default of my loan terms of a past due late charge bank of america in 2013 made a error trying to cover up a misleading term of a recast that continued to show up as a late payment 8 yrs ago. Today i found out the deed of trust contains 3 different original copy’s as refinancing companies have questions I Can’t get answered as from bank of america send my request to there attorney saying the settlement is holding up my questions ? This sounds crazy but all true and refuse to sign for all reasons of Bank of America whats to be free of this for settling $6k . All bad All wrong with facing a foreclosure letter any day.

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