IBJNews

Suit accuses Bank of America of fraud, racketeering

Back to TopCommentsE-mailPrintBookmark and Share

Bank of America Corp. and its Countrywide Home Loans unit are accused of fraud and racketeering in a lawsuit filed by a Marion County resident claiming that perjured affidavits were used to foreclose on her home.

The complaint, filed March 17, is similar to a suit filed in October, which a federal court judge dismissed due to a lack of jurisdiction.

Plaintiffs’ lawyers in the federal case re-filed the suit in Marion Superior Court.

“The battle is now being waged in state court,” said Richard Shevitz, a lawyer at Indianapolis law firm Cohen & Malad LLP.

Shevitz and partner Irwin Levin, who has a national reputation for representing individuals in class-action lawsuits, are representing Judy Canada.

Canada accuses the lenders of using “robo-signers,” people who sign affidavits attesting to facts underlying foreclosures without actual knowledge of those facts, to push through paperwork to take her home in Marion County.

“The robo-signers knew these affidavits were false when they signed them by the thousands, and the robo-signers nevertheless signed them with complete ignorance of the facts … and with callous disregard for the accuracy of the affidavits,” the lawsuit said.

While she’s not asking the court to reverse her foreclosure, she is seeking monetary damages, as well as the class-action status to sue on behalf of anyone whose home was allegedly taken since October 2006 under similar circumstances.

Canada mortgaged her home with Countrywide on Aug. 26, 2003. After allegedly defaulting on her monthly payments, Countrywide foreclosed on the property on Dec. 22, 2009, according to the suit, leaving an unpaid principal of $56,958.95.

Charlotte, N.C.-based Bank of America is the country's largest lender.
 

ADVERTISEMENT

  • Fraud
    Stop paying your mortgaged and you lose your home, that is how it works.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  2. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

  3. Good try, Mr. Irwin, but I think we all know the primary motivation for pursuing legal action against the BMV is the HUGE FEES you and your firm expect to receive from the same people you claim to be helping ~ taxpayers! Almost all class action lawsuits end up with the victim receiving a pittance and the lawyers receiving a windfall.

  4. Fix the home life. We're not paying for your child to color, learn letters, numbers and possible self control. YOU raise your children...figure it out! We did. Then they'll do fine in elementary school. Weed out the idiots in public schools, send them well behaved kids (no one expects perfection) and watch what happens! Oh, and pray. A mom.

  5. To clarify, the system Cincinnati building is just a streetcar line which is the cheapest option for rail when you consider light rail (Denver, Portland, and Seattle.) The system (streetcar) that Cincy is building is for a downtown, not a city wide thing. With that said, I think the bus plan make sense and something I shouted to the rooftops about. Most cities with low density and low finances will opt for BRT as it makes more financial and logistical sense. If that route grows and finances are in place, then converting the line to a light rail system is easy as you already have the protected lanes in place. I do think however that Indy should build a streetcar system to connect different areas of downtown. This is the same thing that Tucson, Cincy, Kenosha WI, Portland, and Seattle have done. This allows for easy connections to downtown POI, and allows for more dense growth. Connecting the stadiums to the zoo, convention center, future transit center, and the mall would be one streetcar line that makes sense.

ADVERTISEMENT