So let’s say you are thinking that those deadbeat borrowers are just trying to get out of debts they owe. And to spice things up the borrowers say it is the bank who screwed everything up, not me. And you laugh at their pathetic attempt to save face when all they do is spend money doing nothing at all to consider whether they will have enough money to pay their mortgage payment to whoever is demanding it — because why would they demand the payment when nobody else is unless they were the creditor and how badly can a bank really screw things up?
Oops, that borrower just got $15 Million in punitive damages for their $500,000 claim against PHH. So what are they now? deadbeats that are rich and don’t need to worry about mortgage payments? Or maybe they are not deadbeats and maybe this entire fraudclosure farce will attract lawyers looking for a big payoff on a contingency fee — like the lawyers in the Yuba case. I don’t know what they got but the usual contingency fee is around 40% and for this award with compensatory damages, the lawyers would receive around $6.4 Million. Not bad for a few days work in front of a jury, if you know how to do it.
If you don’t know how, I am sure these lawyers in the Yuba case will help you. If that doesn’t work, we provide litigation support here. 954-495-9867 or 520-405-1688
Filed under: foreclosure