SOURCE: CPAC Non Profit Law Clinic

April 21, 2011 00:01 ET

CPAC Mass Lender Lawsuit Against the Mortgage Industry

Non Profit Law Clinic Files Defective Product Liability Lender Lawsuit on Behalf of American Homeowners

SANTA ANA, CA--(Marketwire - Apr 21, 2011) - Long before the 50 States Attorneys General investigation confirmed Bank Employee statements of purposely mishandling, even forging signatures on Mortgage Documents, and even before the Federal Government's order to what started as only 16 major Mortgage lenders to reimburse homeowners improperly foreclosed upon, a Non Profit Law Clinic was already helping struggling homeowners.

CPAC Non Profit Law Clinic (www.CPACaid.org) has taken a more complex but very resourceful approach of allowing homeowners to have their voice and allow their name to be part of what can otherwise be financially out of reach for most.

CPAC Non Profit Law Clinic, which helps struggling families with small children and elderly facing homelessness due to Lender Abuse, filed a Defective Product Liability Lawsuit, Superior Court Case # 30-2011-00455676-CU-OR-CJC, against the Mortgage industry as a whole on behalf of a string of struggling homeowners and many more "John Does 1-1000" yet to be named.

Homeowners who have previously been rejected, ignored, given meaningless loan modifications, and those current on their loan but in a desperate situation due to being underwater on a loan their lender misled them with, now can file for relief requesting but not limited to a principal reduction of 40% off any eligible loan, fixed principal and an interest rate of 3.875% or less for the life of the loan, $150,000.00 paid to each named plaintiff, forgiveness of all missed payments claimed due and seeking specified damages per individual homeowner.

CPAC's President G. Lee Lane, a 39-year Multi State Bar Licensed Attorney and former Dean of several Law Universities, who also authored 11 books, some of which have been cited by the U.S. Congress, was instrumental in obtaining settlements in Asbestos Product Liability cases some 30 years ago, states, "Unlike civil suits brought against lenders by other 'for profit' Attorneys, CPAC's defective product liability case cites that Securitized Mortgage Loans sold after origination on secondary markets like Wall Street became a Defective Product that in fact harmed countless consumers." These are not unlike Lane's previously successful Defective Asbestos Product Liability cases that effectively worked through the Court System three decades ago, that proved in favor of his then clients.

Recent public announcements threatening a Suit against major Lenders by National Credit Union Administration (NCUA), a branch of the U.S. Government, on behalf of Credit Unions, unless a 50 billion dollar settlement is made, prompted a message to G. Lee Lane of CPAC from a representative of the Bureau of National Affairs requesting the detailed outline of CPAC's already filed case.

To find out if you or someone you know may be eligible to be named as plaintiff you can go to www.CPACnonprofit.org, create a profile and obtain a free Lender Fraud and Violation Analysis Report and free loan modification assistance while getting prequalified for one of several permanent principal reduction programs available to many homeowners today.

Contact Information

  • G.Lee Lane Esq
    800-643-4637