Bank of America Must Pay $46 Million for Improper Foreclosure

Greenberg Glusker LLP

Greenberg Glusker Fields Claman & Machtinger LLP

Brian Davidoff was quoted in a Los Angeles Daily Journal article on March 28, 2017, discussing U.S. Bankruptcy Judge Christopher M. Klein’s ruling in Sundquist v. Bank of America NA which awarded Erik and Renee Sundquist $1.07 million in actual damages and $45 million in putative damages for the improper foreclosure of their home.

According to the article, the Sundquists defaulted on their home loan per the advice of bank employees who said that they could not consider requests for loan modification unless the property was in default. After repeated runarounds with the Bank, the Sundquists entered into Chapter 13 to stay the foreclosure and in an attempt to cure the default.

Judge Klein wrote in his ruling that “Bank of America did not follow its own procedure, treating the foreclosure as valid. The automatic-stay violating foreclosure was thereafter apparent to anyone at Bank of America who cared to look. Nobody at Bank of America cared to look.”

Davidoff commenting on the ruling and Bank of America’s actions said, “The extent of the egregious acts by Bank of America, and the extent to which the judge penalized them, are both pretty extreme.”


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Greenberg Glusker LLP | Attorney Advertising

Written by:

Greenberg Glusker LLP

Greenberg Glusker LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.