Class Action Filed Against Banks in Foreclosure Proceedings

Oct 28, 2010, 13:00 ET from The Ferraro Law Firm

MIAMI, Oct. 28 /PRNewswire/ -- The Ferraro Law Firm, Daniels Kashtan and The Burton Firm filed a Class Action lawsuit yesterday against BAC Home Loans Servicing, LP, a Texas Limited Partnership, a subsidiary of Bank of America Corporation, and successor in interest to Countrywide Home Loans Servicing, LP, a Texas limited partnership; Deutsche Bank National Trust Company, a New York corporation; and U.S. Bank National Association, a Minnesota association, on behalf of all those property owners who lost title to their property in foreclosure proceedings based on false and perjurious affidavits filed by the Banks and their servicing companies.  They seek to restore title to the property owners.

The Complaint alleges that the Defendants obtained wrongful foreclosures by abusing the court process and submitting affidavits that were false, even though sworn to under penalty of perjury, as the basis for obtaining foreclosure judgments.  The property owners' due process rights were violated and the Banks used and abused the court rules and process to obtain judgments against all of the Class Members.  "The rule of law and due process are the cornerstone of our judicial system and we must be able to rely on the integrity of the judicial system before property rights can be taken away," said Juan Bauta, II, of The Ferraro Law Firm.  The courts relied on the Banks to provide true and accurate affidavits before granting judgments and taking the property away from the property owners.  "In essence, the courts were lied to and the property owners' due process rights were blatantly violated," stated Mr. Bauta, II, of The Ferraro Law Firm, one of the attorneys representing the property owners.

The Complaint seeks to have the judgments that the Banks obtained with fraudulent affidavits vacated and title restored to the property owners.

SOURCE The Ferraro Law Firm