In November 2012, our firm reached a confidential settlement agreement with a mortgage lender on a wrongful foreclosure claim. A few years back, our client was in-between jobs and needed some assistance from her mortgage company until her income picked back up. She applied for one of the mortgage modification programs that the government had approved of for borrowers in her situation. She was accepted into the program and made her trial modification payments as required.
When it came time to permanently modify her loan as required by the guidelines, the lender began requesting numerous additional documents. She satisfied every request as required but was never approved for the program and was eventually foreclosed on as she continued to make her payments. We filed suit on her behalf and after several years of litigation, a settlement with the lender was reached. The lender agreed to pay cash for our client’s damages and waive the mortgage on our client’s home.
This resulted in a total settlement in excess of $250,000.00.