Class Action Suit Over Home Performance Alliance
The Home Performance Alliance lawsuit was filed against Countrywide Financial Corporation and it was brought about by the shareholders’ action against the bank. There were certain things that the shareholders wanted to see changed at Countrywide. This is what they brought about the Home Performance Alliance suit.
This lawsuit would serve as a warning to other mortgage lenders against taking advantage of people. Other suits like this would lead to changes in the lending industry. Other shareholders were involved and some of them ended up filing their own lawsuits against Countrywide. Others filed suits with other banks. This whole mess has cost Countrywide its credibility in the home finance industry. There are still a lot of people who are not trusting the banking industry anymore.
The shareholders in the suit against Countrywide got their satisfaction through the lawsuit.
They claimed that they were treated unfairly and Countrywide did not respect their rights as shareholders. Things heated up when Countrywide tried to change things around for the shareholders by having them fire their attorneys and consultants. These people were demanding changes in how the companies were run and Countrywide thought it would be more appealing if they went along with what other shareholders wanted. It is because of this lawsuit that the entire business model of Countrywide has been questioned.
The whole case became heated because of the greed of certain individuals. Some of them have had many conflicts with Countrywide due to their greedy ways. They wanted to be paid more and the way they saw it fit, they would go to any means just to get it.
Others who were originally shareholders had no choice but to accept what was offered to them.
Their greed was not going to allow them to be happy no matter what it takes. It could have cost them everything that they had. The company was eventually sold off and it was then that the lawsuits started. They were trying to fight the suits and it was all going downhill for Countrywide.
During all of this turmoil, Donald Trump made a decision to step in and do something about it. He decided to purchase the assets of the company and at the same time buy out the largest shareholder. Donald Trump brought in people who knew about lawsuits and what they were all about. They knew what to fight and how to fight it. This lawsuit will never have much of a chance against the original management.
There are rumors saying that the Trump camp is involved with the lawsuit but nothing has been proved yet.
The question that remains is will the lawsuits get resolved and will Donald Trump be cleared? The answer to that is probably yes. This lawsuit could really have a negative effect on the economy if it was to go to trial, but it does not appear to be.
Donald Trump’s involvement with the lawsuit only strengthens the fact that the lawsuit has no merit. This lawsuit was started by a group of investors that wanted to take advantage of the way Countrywide ran their business. Donald Trump saw the opportunity to make money from the situation and he jumped into the fray. Nobody really knows the outcome of this lawsuit, but one thing is for sure right now. Donald Trump has been proven again.
These types of lawsuits are filed all over the country. They usually center on something that a homeowner did to cost them money.
It could be an illegal foreclosure process or something as minor as changing the locks when you had a lease signed. When people lose their jobs or suffer medical situations, it does not take long before they start missing mortgage payments and getting behind on them.
The lawsuit filed by the plaintiffs named in the suit is asking for compensation for lost wages, medical expenses and property damages.
The amount that they are asking for is less than what the bank could afford to give them in a settlement. This lawsuit is just the beginning. It is important to remember that these are only class action suits and there is no guarantee that you will win. It will also be a very expensive lawsuit for the attorneys to fight.
What most people do not realize is that once the lawsuit is filed with the court, the lawsuit automatically becomes a class action suit. This means that there will be a large number of people that are involved in the case. Because of this, the lawyers for the home performance alliance will try to get as many people as possible to join their lawsuit in order to make it more difficult for the banks to defend themselves. There is still hope that the lawsuit will be successful, but the likelihood of it being successful is not good at all.
