GARDNER V. GMAC MORTGAGE, LLC LOAN PAYOFF FEE CLASS ACTION
SGB, along with co-counsel Guy Beckett and Rob Williamson, have filed a class action lawsuit in King County Superior Court, Washington, alleging that GMAC Mortgage breached its contract with borrowers and violated the Washington Consumer Protection Act by requiring borrowers to pay certain fees, including fees for recording a substitution of trustee, when paying off their mortgages.
The parties have reached a proposed class-wide settlement of the case, and anticipate sending notice of the proposed settlement to potential class members by the end of March 2012.
*UPDATE* On May 14, 2012, GMACM/Homecomings filed for bankruptcy protection and identified the proposed settlement in its list of unsecured creditors. Final approval of the settlement is on hold pending further proceedings in the bankruptcy court, and the terms of the settlement may be subject to change by the bankruptcy court. The final fairness hearing, previously scheduled for June 26, 2012, will be put off indefinitely pending further proceedings in the bankruptcy court. This website will be updated to reflect further developments and revised timelines as they become known.