JULY 2008 W4 ALERT
San Diego to the Rescue: Sues Bank of America to Stop Foreclosures
City Wants to Create a “Foreclosure Sanctuary”
<Reuters><July 23, 2008>Michael Aguirre, San Diego City Attorney, has filed a lawsuit against the Bank of America and its Countrywide subsidiary to prevent the bank from foreclosing on delinquent homeowners in the city, according to a report from Reuters.
Aguirre said, “We would like to see San Diego become a foreclosure sanctuary.” The city also plans to file additional lawsuits against Wachovia Corp., Wells Fargo & Co., and Washington Mutual in an attempt to force lenders to negotiate with homeowners facing foreclosure.
Bank of America, saying it had not yet reviewed the lawsuit, declined to comment for the story.
(Photo Credit: Reuters)