Banks Face Scrutiny As Lawsuits Associated With Wrongful Foreclosures Hit Courts

NEW YORK, Oct. 9, 2014 /PRNewswire/ -- Losing a home to foreclosure can be devastating for a homeowner, especially if it's due to a mistake made at the hands of the mortgage servicer.

This past August, a California resident was awarded $16 million after it was revealed that his private-label mortgage servicer failed to admit and correct a billing error that eventually led to the homeowner stopping payments and the initiation of the mortgage provider to begin foreclosure proceedings.

Just last month it was reported that Flagstar Bank was ordered to pay $37.5 million in damages to mortgage customers and in fines for its alleged mishandling of requests for loan modifications, and in some cases, illegally foreclosing on homes.

Errors like these can create unnecessary hardship and stress for homeowners. In some cases these actions end up in a foreclosure on a home which could have been avoided. Homeowners who have found themselves in similar situations may find themselves involved in a lawsuit, which is often complicated and lengthy. Pegasus Legal Funding, LLC may be a resource for homeowners engaged in a lawsuit due to a wrongful foreclosure on a home. Pegasus provides lawsuit pre-settlement funding allowing victims and their families to deal with immediate financial burdens. Pegasus offers non-recourse lawsuit cash advances to help victims meet their day-to-day expenses as they wait for their case to be successfully resolved.

"The sad part about situations involving wrongful foreclosures is that struggling homeowners lose the opportunity to save their homes," said Bradley Braun of Pegasus. "  In times of economic distress, it's unfortunate when these home-lenders don't put an emphasis on the details. These are peoples' homes and lives they're dealing with."

If you or a loved one have been a victim of a wrongful foreclosure on your home or property, and need lawsuit settlement funding you may apply right now to: www.mylawfunds.com. As a direct funding company, Pegasus Legal Funding is in a unique position to provide assistance to you or your loved one's that may be involved in a lawsuit related to a wrongful foreclosure. Pegasus Funding does not offer a "lawsuit loan," lawsuit loans, pre-settlement loans, or a pre-settlement loan; however, we offer non-recourse lawsuit cash advances. To learn more about this please visit our website. If you prefer to speak to a live representative confidentially and professionally about your specific case and funding needs you may call Pegasus' toll free hotline at 855-FUND-YOU/855-386-3968.

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SOURCE Pegasus Legal Funding