Avid Law Center

November 10, 2011 12:00 ET

Avid Law Center Fights for Homeowners by Filing Wrongful Foreclosure Lawsuit

Orange County-Based Real Estate Litigation Law Firm Fights Against "Robo-Signing"

ALISO VIEJO, CA--(Marketwire - Nov 10, 2011) - Avid Law Center, an Orange County, California-based real estate and litigation law firm, continued its fight for homeowners by filing a recent lawsuit against Bank of America and others involved in the mortgage securitization process. The action alleges a number of legal violations including the lender's lack of ability to foreclose on the property and their engagement in unfair foreclosure business practices by using improper securitization and "robo-signed" documents.

The lawsuit is among the latest legal troubles for Bank of America, and its predecessor, Countrywide Home Loans, for improper practices in handling and securitizing home mortgages. The action seeks to restore a homeowner to a traditional lender/borrower relationship, recover damages for the lack of standing by the banks to bring their foreclosure action, and for interference of the mortgage servicer in the lender/borrower relationship.

"We don't think our client has been treated fairly or lawfully by the banks," said Timothy L. O'Reilly, senior trial attorney with Avid Law Center. "This lawsuit seeks to give our client a voice where the banks were otherwise unwilling to listen. We're fighting for homeowner rights, not only against this wrongful foreclosure, but also to try to keep our clients in their home on reasonable and fair loan terms."

Like so many homeowners of the past decade who obtained financing from a local lender, the loan was immediately sold to investors and converted into a Wall Street mortgage securitization pool. Instead of having a true lender to speak with about the loan, this process broke the homeowner's intended economic relationship by sending the loan to anonymous investors, created a hostile loan servicer company, and denied the homeowner the full benefit of the contractual bargain. All of this was done without the knowledge or permission of the homeowner. It was financial transactions like these that ultimately lead to the current financial collapse.

The homeowner, like so many in today's economy, was in need of debt relief due to a hardship and applied for a loan modification through her mortgage servicer, Bank of America. Due to the servicer's conflicting interests, no communication could occur with the true owners of the loan. This was due in large part to the improper securitization practices engaged in by the lenders. The process of trying to obtain a modification for the homeowner just became more frustrating and ultimately unsuccessful.

"Too many homeowners have been given the run-around by banks. Many others have fallen victim to unlawful foreclosure actions which have included the filing of forged and phony paperwork and making false claims of having the right to foreclose by the banks," said Aron Rofer, President, CEO and Managing Attorney for Avid Law Center. "We are fighting to help homeowners get treated fairly and bring some accountability to the banks that have engaged in these wrongful acts."

To date, litigation has begun and has been successful in delaying foreclosure sales as the suit seeks to obtain monetary damages for the claimed improper securitization process.

For more information, please visit

About Avid Law Center
Based in Orange County, California, Avid Law Center is a full service Real Estate Litigation Law Firm representing consumers throughout the state. With over 30 years of legal experience, as well as significant experience in business and finance, Avid Law Center challenges banks on behalf of their clients to stop foreclosure and reduce clients' mortgage payments to an affordable amount.

The information in this release is for general information purposes only. Nothing in this release or on the Avid Law Center website or blog should be taken as legal advice. Prior successes are no guarantee of future performance. Litigation is inherently uncertain and results in litigation are never guaranteed.

Contact Information

  • For Immediate Release

    Media Contact:
    Amanda Tsang
    Email Contact