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SunTrust Mortgage Faces Class Action over Alleged HAMP Breach of Contract

Cincinnati, OH: A lawsuit has been filed against SunTrust Mortgage Inc and SunTrust Bank Inc. ("SunTrust") alleging that SunTrust deceived homeowners into paying thousands of dollars for promised home loan modifications under the United States Treasury's Home Affordable Modification Program ("HAMP") and then failed to follow through on the agreements.

The class action complaint was filed in the U.S. District Court for the Eastern District of Kentucky, by William and Elizabeth Vincent seeking to represent other homeowners who paid for promised mortgage restructurings. HAMP is a federal government program which provides incentives to participating banks to enter into agreements with homeowners to adjust existing mortgages to make them more affordable.

The complaint alleges that after accepting the offered modification payments, SunTrust wrongfully refused the permanent modifications and in some cases forced homeowners into defaults. The lawsuit accuses SunTrust of breach of contract, breach of implied covenant of good faith and fair dealing, and violation of Kentucky's Consumer Protection Act and violation of the Truth in Lending Act.

SunTrust Mortgage HAMP Class Action Legal Help

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Last updated on Oct-11-10