Bankruptcy
Mar. 28, 2017
Bank of America must pay $46 million for improper foreclosure
A Sacramento bankruptcy judge awarded tens of millions in punitive damages to public service entities.
By Steven Crighton
Daily Journal Staff Writer
Daily Journal Staff Writer
Bank of America must pay $46 million in damages after improperly foreclosing on a couples' home, subjecting them to what a judge described as "a Kafkaesque nightmare."
Erik and Renee Sundquist said they were "stampeded" into taking out a loan for a new home in 2009 under threats that the house would otherwise be sold to another prospective buyer. Their loan broker promised that they could re...
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