OneWest Bank lawsuit claims that they are profiting from foreclosures

PASADENA – A spate of recently filed lawsuits allege OneWest Bank is systematically hiking loan payments for struggling home loan borrowers and pushing them into foreclosure.

Sacramento attorney Peter Macaluso said the Pasadena-based bank is doing it because it can make more money that way than by keeping borrowers in their homes.

He has filed eight lawsuits in the Eastern District of U.S. Bankruptcy Court against OneWest on behalf of borrowers and said a ninth action will be filed later this week.

“I see this as a business practice,” he said of OneWest’s actions. 

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Posted in Bank News, Banking | 1 Comment

One Response to “OneWest Bank lawsuit claims that they are profiting from foreclosures”

  1. Bruce LeeRoy says:

    “Corrupt lawyers suing corrupt lenders to get a piece of the pie”