Chase Loan Modification Multidistirct Litigation
In response to a foreclosure action brought against a client seeking to modify her mortgage, Goldenberg Schneider filed a third-party class action against JPMorgan Chase Bank, N.A., Chase Home Finance, LLC, and U.S. Bank National Association, on behalf of a class of similarly situated Ohio homeowners, to challenge the defendants’ systematic failure to honor agreements they made with homeowners to modify their loans. The complaint alleges generally that the defendants use promises of loan modifications to lure struggling homeowners into making additional “trial plan” payments under a “trial plan” agreement but do not actually follow through to modify the loans. The Judicial Panel on Multidistrict Litigation has since consolidated the action with other similar actions before Honorable Richard G. Stearns of the U.S. District Court for the District of Massachusetts for pretrial proceedings.