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Is there a class action lawsuit in CA against B of A for lack of disclosure on commoditizing real estate loans?

Santa Barbara, CA |

BofA's practice of turning real estate loans into securities increased risk to real estate buyers and led in part to the collapse of housing prices. They failed to notify us of this practice. Our home, our primary asset, is now $1M underwater. BofA offered to let us short sell for 50% of current value. This offer is not available to us although we've already put $1M into the property. I believe it is discriminatory against us even though we invested $1M in this asset based on our belief that BofA made sound business practices. We've tried to do a loan mod but they won't offer any principle reduction on the $1.5M loan, although the house is now worth $1M. We want to find an attorney in Santa Barbara area to either sue on lack of disclosure or get a loan mod

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Attorney answers 1

Posted

Your heading and your question are not the same. Your facts are not clear. If you are seeking a class action lawsuit, I would suggest you search your question on the internet. If you are looking for a local attorney, try your local bar lawyer referral service or the AVVO service..

The answers on this discussion board are general in nature and NOT intended as legal advice. Responding to questions does not constitute an attorney-client relationship. Always see a lawyer about your individual situation

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