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South florida lawyer files mortgage fraud lawsuit against totalbankand banco popular by efwegbe erergeer
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South florida lawyer files mortgage fraud lawsuit against totalbankand banco popular |
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Business,Business News,Business Opportunities
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Coral Gables, FL (PRWEB) May 17, 2012 Prominent South Florida lawyer John Herrera recently filed a civillawsuit charging mortgage fraud against TotalBank, Banco PopularEspañol, and several bank executives in Miami-Dade CircuitCourt (Case #2011-13491-CA-01). The complaint alleged that loanofficers falsified several key documents in Herreras commercialmortgage loan application. In addition, the lawsuit claimed thebank refused to release additional property used as collateral inthe deal. I believe my lawsuit raises many questions that should alarmborrowers as well as taxpayers since it involves the Small BusinessAdministrations (SBA) lending program, said Herrera.
The mainreason why I have dedicated so much time and effort to this case isbecause the collateral property in dispute belongs to my mother, a79-year-old cancer survivor who has worked her entire life toprovide for herself in her last years. In 2007 Herrera met with Renato Salazar, a TotalBank loan officerwho is also named as a defendant in the lawsuit, to discussHerrera's desire to purchase a $1.8 million office building for hisCoral Gables, Fla. legal practice. The lawsuit claimed Salazarsuggested that Herrera should apply for a loan through the SBA anduse real estate owned by his mother as collateral.
As you can see from details of the lawsuit, my mother and I wererequired to provide personal guarantees, Herrera said. During theapplication process, we negotiated terms and conditions for thefinancing as well as the terms for the release of my mother'sproperty that the bank allegedly insisted on in order to make theloan happen. Herrera and his attorneys closed the $1.6 million loan withTotalBank, a member of Grupo Banco Popular Español, later thatyear. Herrera claimed in the lawsuit that he met the conditions forrelease of his mother's property by making payments consistently ontime.
I was shocked to learn the bank would not release my mother'sproperty, Herrera said. I filed a complaint for Declaratory Reliefin the 11th Judicial Circuit. Through discovery and sworndepositions, I believe I uncovered something other than adifference of opinion as to who interpreted their rights correctlyunder the contract. The lawsuit contained what Herrera claimed were doctored documentsand internal bank emails allegedly acknowledging that his file hadbeen removed and could not be found.
"The FDIC was allegedly looking for my file, Herrera said. I wasultimately able to obtain a copy of my application package from theSBA through their servicer, the Florida Business DevelopmentCorporation. Based on what I found in the application, I filed alawsuit charging that the bank was allegedly involved in fraudulentpractices. Among the documents Herrera questioned in his lawsuit is a personalfinancial statement that appears to have his signature and that ofhis wife.
The lawsuit stated that I hired a forensic document expert whodetermined the signatures were forgeries, he said. Also, mypersonal financial statement was allegedly inflated by$190,000.00." The lawsuit also named Salazar's managers, Benigno Pazos and RamonRodriguez, as defendants. The legal action sought a jury trial andthe release of the collateral property, John Herrera, P.A. is a Coral Gables-based law firm focused onpersonal injury; civil and commercial litigation; real estate;divorce; family; and immigration law.
Read the full story at releases/2012/5/prweb9504283.htm . I am a professional writer from Steam Presses, which contains a great deal of information about don's oak furniture , american oak furniture, welcome to visit!
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