Tuesday, July 20, 2010

We Will Get A Class Action

We can do this:

1. Numerosity - enough plaintiffs to make class action an efficient way to handle the claim.
2. Commonality - common issues of fact and law for each claimant
3. Adequacy of Class Rep - the person who is the class representative needs to have claims that are the same as the class members and that they are capable of serving as the representative.
4. Adequacy of Counsel - that the law firm representing the class has sufficient skill and resources to represent the class.

A certified class action suit is one brought on behalf of a large (3 or more) group of people as plaintiffs who have suffered some similar harm from the same actions of the defendant or defendants

Saturday, July 17, 2010

A list of Pending Class Action Lawsuits

Class Action - Countrywide Loans - Washington


Class Action - Wells Fargo – Arizona Class Action


America's Servicing Company (ASC)
http://www.hfesq.com/class-action-cases-investigationdetail. php?case=America%27s+Servicing+Company+(ASC)&cid=8

Homecomings Financial Class Action Motley v. Homecomings Financial, LLC



MERS was not authorized to assign anything.


BBB Rating For Chase Home Finance "F"

BBB Rating for Chase Home Finance

Based on BBB files, Chase Home Finance has a BBB Rating of F on a scale from A+ to F.
Reasons for this rating include:
  • 1397 complaints filed against business
  • Failure to respond to 447 complaints filed against business.
  • 64 complaints filed against business that were not resolved.
  • Overall complaint history with BBB.
  • Length of time business has taken to resolve complaint(s).

Customer Complaint History for Chase Home Finance

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB processed a total of 1397 complaints about Chase Home Finance in the last 36 months, our standard reporting period. Of the total of 1397 complaints closed in 36 months, 934 were closed in the last year.
These complaints concerned :
+ 4
regarding Advertising Issues 
+ 501
regarding Billing or Collection Issues 
+ 182
regarding Contract Issues 
+ 342
regarding Customer Service Issues 
+ 1
regarding Delivery Issues 
+ 4
regarding Product Issues 
+ 109
regarding Refund or Exchange Issues 
+ 1
regarding Repair Issues 
+ 44
regarding Sales Practice Issues 


Notice that the highest numbers of issues are for Billing & Contract issues  and Chase Home Finance continues to advertise that they take excellent care of their customers...if this is excellent care, then what does poor care look like?

Wisconsin Homeowners with Chase Home Finance HAMP Issues

I’m looking for residents of Wisconsin that are having problems with Chase Home Finance and the HAMP modification. I am trying to compile a list for a Attorney  in Milwaukee for a Class Action Suit against Chase Home Finance.

These attorneys are looking for a case that will make precedence in Wisconsin with regard to the HAMP modification program. There is an Attorney in MA that currently has a Class Action filed against Chase Home Finance and is willing to assist the attorneys here should there be enough homeowners that come forward to join this Class Action.

Current Class Action Case in MA:

HAMP Taking nothing less.

Home Affordable Modification Program: Overview
The Home Affordable Modification Program is designed to help as many as 3 to 4 million financially struggling homeowners avoid foreclosure by modifying loans to a level that is affordable for borrowers now and sustainable over the long term. The program provides clear and consistent loan modification guidelines that the entire mortgage industry can use.

Borrower eligibility is based on meeting specific criteria including:
1) borrower is delinquent on their mortgage or faces imminent risk of default
2) property is occupied as borrower's primary residence
3) mortgage was originated on or before Jan. 1, 2009 and unpaid principal balance must be no greater than $729,750 for one-unit properties.

After determining a borrower's eligibility, a servicer will take a series of steps to adjust the monthly mortgage payment to 31% of a borrower's total pretax monthly income:

First, reduce the interest rate to as low as 2%,
Next, if necessary, extend the loan term to 40 years,
Finally, if necessary, forbear (defer) a portion of the principal until the loan is paid off and waive interest on the deferred amount.
Note: Servicers may elect to forgive principal under HAMP on a stand alone basis or before any modification step in order to achieve the target monthly mortgage payment.

The Home Affordable Modification Program includes incentives for borrowers, servicers and investors - these incentives are detailed in the documents.