Montana Couple Settles Lawsuit Over Mortgage
A Montana couple has settled their lawsuit against Bank of America after the financial giant allegedly “acted negligently and fraudulently” when Abraham and Betty Jean Morrow attempted to refinance their mortgage in 2008.
According to the Associated Press, the couple built a home in 2005 and then refinanced in 2008. When business problems left them unable to make their mortgage payments, the couple says the bank “told them to skip a payment so they would qualify for the federal Home Affordable Mortgage Program.” Bank of America, however, denied ever making such a statement, and the bank eventually foreclosed on them.
Terms of the settlement have been kept confidential.
Image via flickr/Brian Turner