Las Vegas Resident Files Federal Lawsuit Against Bank of America Corporation; Explains What The Banks Don't Want Homeowners to Know About Their Loans

LAS VEGAS, Oct. 20, 2015 /PRNewswire/ -- As a professional Realtor, Short Sale and Foreclosure Expert, Michael Bondi has helped Southern Nevadans achieve the American Dream of homeownership since 2004. But in a strange twist, the dream of owning a home has turned into a nightmare for Bondi. Bondi is suing Bank of America, N.A. and Nationstar Mortgage, LLC, claiming fraud, civil consipracy, mispresentation, violations of the Federal Fair Credit Reporting Act and the Federal Fair Debt Collections Practices Act. Bondi is seeking damages over $1,000,000.00 plus attorneys fees.

In his lawsuit, Bondi alleges that in 2013, Bank of America sold his zero balance loan to Nationstar Mortgage which improperly reported $70,000 of debt as "Major Derogatory/Charge-Off" on his credit reports. These multiple actions caused damage to his finances, credit, and his business. The impact was devastating. Bondi hired an attorney and is suing Bank of America and Nationstar for their actions in a saga that has lasted almost nine years.

His attorney, Rebecca A. Fuller, ESQ, said Bondi has credit reports and letters stating that he owed no money, when Bank of America improperly sold the loan to Nationstar.

"This has impacted every aspect of his financial life," said Fuller. "It wasn't until we filed an action that anything has been done to resolve his situation. We estimate there are 20,000 to 40,000 accounts that were transferred for collection."

Bondi's problems started with Bank of America in 2008 when they assumed his Countrywide Home Loan. Bondi was in a car accident in 2007, leaving him unable to work. Bondi tried to be proactive. He had 5+ valid short sale offers on his home, all offers were denied by BofA due to Bondi refusing to sign a blank Promissory Note, which would have made him responsible for the entire debt plus additional monies. Bondi's home was foreclosed in June 2009 and his problems continue to this day. Bondi wants to help others avoid his situation by exposing his federal lawsuit and evidence.

Bondi's story was chronicled in an investigative story that recently appeared on KTNV Ch. 13 in Las Vegas. Click on the link below:
https://www.youtube.com/watch?v=NNxa9HW814c

Case No.: 2:14-cv-001215-LDG-GWF

SOURCE Michael Bondi