A Hammond couple claim in a federal lawsuit that they were victims of “robosigning” and other predatory mortgage practices that left them facing foreclosure.
According to the lawsuit, which was filed in Lake County Superior Court a month ago and was moved to U.S. District Court in Hammond on Tuesday, Pedro and Elisa Rico bought their Hammond house in 1996.
The couple were up to date on their payments, but their lender, Green Tree Servicing, LLC, approached them about refinancing in 1999.
The lawsuit says Green Tree used their son, who was a minor at the time, to translate the terms of the new loan for them, which they thought included a fixed rate over 15 years.
The Ricos say they didn’t learn until a year ago when they received a notice that it actually included a balloon payment of $40,000 due in August 2014.
The Ricos are claiming Green Tree and Bank One used other deceptive practices, such as having documents signed by a notary when they weren’t there and providing false information for Elisa Rico to join the deed on the house so the couple would qualify.
And here is information on the Rico’s lawsuit. Case number 2:2015cv00089:
Rico et al v. Green Tree Servicing, LLC et al
|Plaintiff:||Pedro F. Rico and Elisa F. Rico|
|Defendant:||Green Tree Servicing, LLC, J.P. Morgan Chase Bank, N.A., Bank of New York Mellon and OCWEN Loan Servicing, LLC|
|Filed:||March 10, 2015|
|Court:||Indiana Northern District Court|
|Referring Judge:||John E Martin|
|Presiding Judge:||Joseph S Van Bokkelen|
|Nature of Suit:||Truth in Lending|
|Cause of Action:||28:1441 Petition for Removal|
|Jury Demanded By:||Plaintiff|