A class action lawsuit began against BofA
April 5, 2011 by Jack Collie · Leave a Comment
Washington, DC: A class action lawsuit began against BofA claiming that homeowners who have mortgages with BofA and who had their payments on time were penalized by the bank, for inexplicable reasons.
The suit, filed on behalf of Ms. Ana C. Estrada, seeks to represent a nationwide class of similarly situated consumers who were current on their monthly mortgages with Bank of America but nonetheless were reported to credit bureaus by Bank of America as being delinquent in their mortgage payments.
According to the complaint “despite the fact that Plaintiff was making timely payments in full for her mortgage and that those payments were being cashed by Bank of America, [the Bank] began reporting [Plaintiff's] mortgage loan as late and began to charge late fees on the account.”
The complaint further alleges that not only did Bank of America “falsely report to the various credit bureaus that Plaintiff was late on her mortgage payments, Bank of America failed to make any notation or reference to her involvement in the modification program.”
Consequently, “Plaintiff began to receive correspondence from her other creditors . . . informing her that her accounts were being closed out because of the negative reporting on her credit reports.”
The suit further alleges that although Ms. Estrada formally disputed the false information with the credit bureau, BofA has failed to correct her credit information and false reporting information on her credit report. This has resulted in the plaintiff suffering severe damage to her credit history, among other things.
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