Bayview Loan Servicing Class Action Lawsuit

How a Class Action Lawsuit Could Force the Banks to Pay Up?

The Bayview Loan Servicing Class Action Lawsuit states that there are six plaintiffs who have sued the bank for not paying on their mortgages. One of these plaintiffs is Dan Leal, a Washington resident. He lost his home to foreclosure because the bank neglected to make the required payments. The bank has denied the claims but the plaintiff has pursued legal proceedings and obtained a class action lawsuit. According to class action lawsuit sources, the class action lawsuit is expected to be one of the largest of its kind ever filed in United States District Court.

The class action lawsuit was filed on behalf of all those persons who could lose their homes to the negligence of their banks.

All the names of the plaintiffs have been mentioned in the class action lawsuit. Leal’s lawsuit is unique because he actually contacted the bank on his own behalf. However, many persons with such problems do not know that they can actually go to a lawyer’s office and hire an attorney to represent them. When Leal did contact the bank, it did not attempt to help him avoid foreclosure. Instead, it suddenly changed its position and said that it would not pursue the claim unless Leal signed an ‘assumption of responsibility’ agreement.

The class action lawsuit against the bank has so far been successful in getting the court to order the bank to pay Leal its loans after it fails to make the required payments.

The bank has also been ordered to compensate the other five plaintiffs for losses they sustained as a result of Leal’s defaulted loans. The case has been turned over to a specialized lawyer from Seattle who has experience in pursuing cases similar to this one.

As per the rules of the court, the lawyers have been given a lot of time to work on the case.

It is believed that the entire process may take more than one year to complete. This is because it involves filing numerous court documents, producing important documents to the court, and having the banks come to an agreement with the plaintiffs. Leal’s original plan was to get out of the loans and allow the couple to apply for loans on their own. However, this was changed at the last moment, when Leal and his spouse decided that they would rather stay in their home than go through a foreclosure process.

The class action lawsuit has been turned over to a special master who will work on the matter as a group.

There are expected to be several trial sessions and several meetings between the parties involved in the case. This is because there are many issues that need to be resolved in one session alone. The other issue that is expected to come up in the course of the case is the amount that the bank must pay Leal and his wife each month for the duration of the remaining loan term. Some attorneys believe that the amount should be decreased each month, while others think that it should be raised. When this class action lawsuit is finalized, hopefully it will be enough to force the banks to agree to either reduce the payments or to outright stop paying them.

No matter how one feels about the way that the case is being handled, there is no doubt that the class action lawsuit should be able to force the banks to pay up and finally settle the loans.

There may be a time in the future when these types of lawsuits are no longer necessary. However, for now anyone that is interested in finding out about the generalities of a Bayview loan servicing lawsuit should do some research online. No matter what the outcome of the class action lawsuit ends up being, it is certain that at least one person in America will be benefited from it.

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