HELENA, Mont. (AP) — A Montana couple has settled their lawsuit against Bank of America that alleged the company acted negligently and fraudulently when they tried to refinance their mortgage.
Attorney David K.W. Wilson of Helena told Lee Newspapers of Montana that the terms of the settlement reached earlier this month are to remain confidential.
Abraham and Betty Jean Morrow of White Sulphur Springs bought 50 acres in Meagher County in 2003 and built a house three years later. In August 2008 they refinance the mortgage.
Business problems left the couple unable to afford the monthly payment.
They say a Bank of America representative told them to skip a payment so they would qualify for the federal Home Affordable Mortgage Program. The bank eventually foreclosed on them, saying no record of that conversation existed.