Struggling Bay Area homeowners are joining an emerging national trend by suing banks for breaking contracts when the lenders refuse to make temporary loan modifications permanent - even though owners have done their part.
The lawsuits reflect growing frustration among homeowners who believe that banks are treating them unfairly, and they follow failed attempts by the government to force lenders to fully consider modifications before foreclosing. The suits have twin goals: to make mortgage modifications stick, and to raise the national profile of such cases so banks reform their practices.
Lawyers who filed class-action suits in U.S. District Court in San Francisco last year against JPMorgan Chase and Wells Fargo are expecting rulings in the coming months that will determine whether their claims can move forward.
From: http://ping.fm/lBwKq
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