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Nevada Homeowners File Class Action Against Indymac
June 9 2009
Homeowners in southern Nevada who have found themselves caught up in the current foreclosure crisis have filed a class action lawsuit to prevent further foreclosures, and to get restitution for those who've already lost their homes.
The lawsuit has been filed against the California bank Indymac, which was bought out by OneWest Bank, after facing potential bankruptcy itself at the beginning of the crisis.
The suit alleges that Indymac did not deal in good faith with customers borrowing money and used deceptive and unfair practices, such as focusing on minority groups and selling them loans the bank knew those clients couldn't pay.
One plaintiff, Luis Benito, secured a loan through Indymac and was told that the monthly payments would never exceed $2000. "Then I get this letter saying that my payment was going up on the first from $1,700 a month to $2,700 a month," he told Channel 8 Las Vegas Now Eyewitness News. Benito could not afford the increased payment and ended up in default of his loan.
Even then Indymac allegedly led him to believe he could save his home, indicating by letter that they would contact him within 30 days with a decision. However, Indymac reportedly never contacted Benito and his home was sold.
The suit could potentially involve tens of thousands of people.
Indymac Foreclosure Class Action Legal Help
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Posted by Georgia
I suffered a job loss and recently got another job. According to my gross monthly income and my mortgage payment PITI I am over the 31% DTI-was told by One West manager they calculated the amount different and do not qualify and suggest a short sale.
Posted by New Jersey
The bank accepted TARP money and refuses to re-modify my loan. It cited that because the loans are held by private investors there is nothing they can do. I am currently in foreclosure and am very close to losing my home and have nowhere to go. I want to join or start a new class action suit against IndyMac/One West.
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