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Unit of DJSP Enters into Forebearance Agreement With Bank of America

Unit of DJSP Enters into Forebearance Agreement With Bank of America


Stern’s DAL Enters Forbearance Agreement With Bank of America Over Credit

A business run by David Stern, the Florida foreclosure lawyer who is under investigation by the state’s attorney general, entered a forbearance agreement with lender Bank of America NA.

The bank agreed not to take action in the period ending Nov. 26 over a default on a revolving line of credit by DAL Group LLC, a unit of Stern’s foreclosure-processing company, DJSP Enterprises Inc., according to a regulatory filing. The credit line, entered into in March, has an outstanding principal balance of about $12 million, DAL said.

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