Why You Don't Know that Thousands of Homeowners Are Winning Foreclosure Cases

Bottom Line: As soon as there is a “negative outcome” for the Banks it goes into their trash compactor and disappears. The main tool is the use of a confidentiality agreement in which the homeowner practically gives up his/her life if they discuss the case at all. In these cases the banks have even paid more than the verdict or court order to silence the homeowner and their attorney. (see below)

The effect is that when you Google various terms searching for ways in which homeowners won, you don’t see very much. This discourages both homeowners from hiring attorneys and discourages lawyers from taking a case they think will be a loss.

The key to any successful result is persistence. Up until final payment or settlement the banks use a scripted pattern to discredit and undermine the confidence of both the attorney and the homeowner. It’s a form of bullying and it works. Lawyers who thought they could make $100,000 start thinking in terms of 1/10th that amount.

The latest and also a favorite tool of corporate defendants and banks is to settle the case at whatever the cost (written off as cost of doing business) and then approval of the court is sought by the bank where a prescripted order is submitted for the Judge to sign. The Proposed order says that the record of the case shall be expunged. And that is exactly what is pending in California where Bank of America is seeking to silence not only the homeowner and his lawyer but the court as well. The Judge is not taking it well.

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see BOA: Judge Erase Your Ruling, We’ll Pay the $46 Million Penalty

In a 107 page ruling Judge Klein described the behavior of Bank of America as “Kafkaesq”, “heartless”, “callous, cruel” and a “cynical disregard for the law.” Now BOA is back for third time to ask the judge to not only depublish his opinion but to expunge it. The obvious fear by BOA and the other banks is that if word gets out that you can get a $46 million result and perhaps $15 million or more in attorneys fees, things might change for the banks.

BOA is providing a carrot and stick approach to the homeowners. It is coercing the homeowners to agree to the order submitted by BOA for the Judge’s signature.

One of the couple’s attorneys told the judge at a previous hearing the proposed settlement provides “substantially more” than the $6 million the family would get from the court’s ruling.

The Judge is resisting because of public policy concerns, to wit: the same reason BOA wants it to go away is the reason why the Judge doesn’t agree. The decision can be used as precedent for homeowners.

The judge also said the the size of the punitive damages award against Bank of America was meant to “not be laughed off in the boardroom.”

See Sundquist v. Bank of America Corp., 14-02278, U.S. Bankruptcy Court, Eastern District of California (Sacramento).

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