Cincinnati, OH: A lawsuit has been filed against SunTrust Mortgage Inc and SunTrust Bank Inc. ("SunTrust") alleging that SunTrust deceived homeowners into paying thousands of dollars for promised home loan modifications under the United States Treasury's Home Affordable Modification Program ("HAMP") and then failed to follow through on the agreements.
The class action complaint was filed in the U.S. District Court for the Eastern District of Kentucky, by William and Elizabeth Vincent seeking to represent other homeowners who paid for promised mortgage restructurings. HAMP is a federal government program which provides incentives to participating banks to enter into agreements with homeowners to adjust existing mortgages to make them more affordable.
The complaint alleges that after accepting the offered modification payments, SunTrust wrongfully refused the permanent modifications and in some cases forced homeowners into defaults. The lawsuit accuses SunTrust of breach of contract, breach of implied covenant of good faith and fair dealing, and violation of Kentucky's Consumer Protection Act and violation of the Truth in Lending Act.
SunTrust Mortgage HAMP Class Action Legal Help
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My wife and I attempted to refinance our SunTrust mortgage six months ago. We signed all the paperwork and argued with SunTrust about the expenses being unreasonably high for always being paid on-time. After we signed the documents, SunTrust proceeded to send us additional disclosures that included another $2,400 in additional closing costs that would be rolled into this loan. When I called the loan originator to question the additional charges, he never called back, so I proceeded to call his manager to complain. His manager never returned my call either. Finally, I called the manager again and he told me to go to another bank if I don't agree with their business practices. SunTrust is very unprofessional and unethical.
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