Nevada Files Suit Against Bank of America - 8 News NOW

Nevada Files Suit Against Bank of America

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LAS VEGAS -- Nevada Attorney General Catherine Cortez Masto has announced that her office is filing a lawsuit against Bank of America for allegedly engaging in deceptive trade practices against Nevada homeowners.

The lawsuit was triggered by consumer complaints and follows an investigation into Bank of America's alleged deceptive practices involving its residential mortgage servicing, particularly loan modification and foreclosure practices. The Attorney General's office in Arizona also filed a similar lawsuit.

The Complaint alleges that homeowners kept making mortgage payments to Bank of America because the bank promised to act upon requests for mortgage modifications but ended up foreclosing on the homes.

In a statement, the AG's office say, "because of Bank of America's false promises, many Nevada consumers continued to make mortgage payments they could not afford, running through their savings, their retirement funds or their children's education funds."

"We are holding Bank of America accountable for misleading and deceiving consumers," said Masto. "Nevadans who were trying desperately to save their homes were unable to get truthful information in order to make critical life decisions."

Nevada homeowners who are in or are facing foreclosure are advised to seek assistance as soon as possible. Homeowners can find information concerning a HUD-approved counseling agency by calling HUD's interactive voice system at (800) 569-4287 or by visiting their website.

Nevada consumers who want to file a complaint with the AG's Office about Bank of America can send a letter with copies of any supporting documentation to: 

Nevada Office of the Attorney General
Consumer Response Unit
100 N. Carson St.
Carson City, NV 89701.

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