The Home Equity Theft Reporter

Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.

Monday, February 11, 2008

Foreclosed Ohio Homeowner Files Class Action Against Deutsche Bank; Suit Based On "Lack Of Legal Standing"

In Cleveland, Ohio, WKYC-TV Channel 3 reports:

• The Cleveland law firm of Novak, Robenalt, and Pavlik has filed a class action lawsuit on behalf of local homeowners who lost their homes to foreclosure by Deutsche Bank. "Most of the homeowners had never even heard of Deutsche Bank," said attorney Thomas Robenalt. "There was a rush to file, to sell these mortgages because they were selling them at a profit." Two Cleveland federal judges have dismissed all pending Deutsche Bank foreclosures, and Robenalt's firm has filed a class-action lawsuit. The suit contends the bank began foreclosure action before it had legal standing to do so. Robenalt believes homeowners foreclosed upon by Deutsche Bank may be entitled to recovery of substantial [fees] and damages, and in some cases, where the bank re-purchased the homes at sheriff's sales, could actually recover their homes. "That is the potential upside of this," he said.

• The law firm, which is also working with the firm of Cohen, Rosenthal, and Kramer, would be interested in hearing from those whose homes have been foreclosed by Deutsche Bank.

Source: Foreclosed homeowners could get their houses back.

For more extensive report, watch the WKYC-TV Channel 3 video, which also reports that Wells Fargo, which has reportedly foreclosed on almost 5,000 Cleveland-area homeowners, may be the next class action target.

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http://homeequitytheft.blogspot.com/2008/02/foreclosed-ohio-homeowner-files-class.html

Novak Robenalt Pavlik & Scharf LLP

(216) 781-8700

1660 W 2nd St Cleveland, OH 44113-1454