NCLC, with its co-counsel, has brought four class action suits on behalf of Massachusetts residents to challenge the failure of Wells Fargo Bank , Bank of America , J.P. Morgan Chase Bank and IndyMac Mortgage Servicers/OneWest Bank to honor their agreements with borrowers to modify mortgages and prevent foreclosures under the United States Treasury’s Home Affordable Modification Program (“HAMP”). The complaints are filed with the United States District Court for the District of Massachusetts and assert claims for breach of contract, breach of the implied covenant of good faith and fair dealing and promissory estoppel under Massachusetts common law arising from the financial institution’s alleged failure to keep its promises to modify eligible loans to prevent foreclosures against homeowners who have lived up to their end of the bargain as required by HAMP.
- Bosque v. Wells Fargo Complaint
- Johnson v. Bank of America Home Loans Servicing Complaint
- Durmic v. J.P. Morgan Chase Complaint
- Reyes v. OneWest Complaint
Our firm is currently reviewing cases involving the HAMP program similar to what the NCLC has filed. We believe that the requirements under HAMP for a loan modification are very favorable toward most borrowers, and the fact that the majority of the home owners we speak with have been denied the HAMP modification tells us that the Mortgage companies and servicing agencies are failing to follow the guidelines under HAMP to help consumers modify their loan. Whether this is intentional or just incompetence, we are not sure yet at this stage. If you have a situation where you have been denied a HAMP modification and are in Alabama, please give us a call as we may be able to help.