Homeowner Facing Foreclosure Scores $45K & 2% Loan Modification Workout In Lawsuit Settlement With BofA, Countrywide, Fannie

In Northern California, the Appeal Democrat reports:

• A Linda woman who once faced eviction from her home will be paid $45,000 and have her loan modified as part of the settlement to her legal challenge to the foreclosure by a bank and a government agency. "You've got to use a big stick to get their attention," Mary Carter, 60, said of the lawsuit filed against Bank of America, Countrywide and Fannie Mae.

• Gregory Guth, the Yuba City attorney who represented Carter, said he took on the case convinced the Linda resident hadn't been dealt with fairly by the large institutions. "She had been wronged," Guth said. Her situation stemmed in part from the size and number of the institutions Carter faced in the foreclosure. "Nobody was on the same page," Guth said.

***

• Now secure in her home with the case resolved, Carter thanked Guth, who represented her after other attorneys who set up appointments with Carter told her they wouldn't take the real estate-related issue. "Without him, this would not have happened," she said. [...] Carter's loan, as part of the case settlement, will be 2 percent through 2015 and caps at 5.125 percent.

For the story, see Linda woman wins legal battle to keep her home.