Wednesday, October 20, 2010

BOA Sued by Homeowners for Racketeering

Bloomberg Business Week, October 19, 2010, 7:58 PM EDT

Bank of America Corp. and its Countrywide Home Loans unit were sued by two Indiana residents claiming that perjured affidavits were used to foreclose on their Knightstown home.

Plaintiffs Dwayne Ransom Davis and Melisa Davis accused the lender and its unit of racketeering in a complaint filed today in federal court in Indianapolis...

"The defendants and their cohorts engaged in a pattern of racketeering activity in which they routinely and repeatedly prepared perjured affidavits in order to rapidly churn foreclosures," the couple said in the complaint.

While the borrowers aren't asking the court to reverse their foreclosure, they're seeking compensatory damages tripled under federal racketeering laws, as well as class action, or group, status to sue on behalf of anyone whose home was allegedly taken since October 2006 under similar circumstances.

Levin said the group might include hundreds of thousands of people.

The case is Davis v. Countrywide Home Loans Inc., 10-cv-01303, U.S. District Court, Southern District of Indiana (Indianapolis).

Did you notice? -- compensatory damages TRIPLED under Federal racketeering laws?

Screw the house, go for the damages. See if you can join this case or use their example to file a similar one.

I love it. We're on a roll, folks...BoA has ordered in more Allka-Seltzer...

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