RIGALI v. ONEWEST BANK | San Luis Obispo County couple has received a million-dollar-plus settlement and title to two houses

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RIGALI v. ONEWEST BANK | San Luis Obispo County couple has received a million-dollar-plus settlement and title to two houses

RIGALI v. ONEWEST BANK | San Luis Obispo County couple has received a million-dollar-plus settlement and title to two houses

Cal Coast News-

A San Luis Obispo County couple has received a million-dollar-plus settlement and title to two houses in a case that is likely to result in more lawsuits by people who lost property to mortgage lenders after the bursting of the housing bubble.

Greg and Irene Rigali of Shell Beach sued OneWest Bank, IndyMac Mortgage Services, U.S. Bank and GSR Loan Mortgage Trust after their home and a rental property in Grover Beach were foreclosed. At the time, the Rigalis were negotiating with OneWest Bank to modify their mortgages, sources familiar with the case said.

The case turned on a mortgage practice known as “dual tracking.” Under the practice, lenders work with borrowers who are in default but, at the same time, pursue foreclosure.

At the short end of the seven-figure settlement agreement were two nationally known individuals, billionaire Steve Mnuchin, principal owner of OneWest Bank; and Rik Tozzi, a prominent Alabama attorney specializing in banking litigation and “complex cases in difficult or dangerous jurisdictions,” according to his website.

[CAL COAST NEWS]

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2 Responses to “RIGALI v. ONEWEST BANK | San Luis Obispo County couple has received a million-dollar-plus settlement and title to two houses”

  1. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    The case seems to have settled. Or did I miss something?

    Out of court settlements are of little use to others. 🙁

  2. lies is all they tell says:

    not true. if we want retribution sue and settle. it will not help others but it keeps the banks out of court 🙁 they do not want the fraud exposed but we get our lives back.

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