Amtrust Home Equity Lines
Class Action Complainted Filed
AmTrust (formerly known as Ohio Savings Bank) is one of the Top 15 home loan originators in the United States and also serves its customers by offering Home Equity Lines of Credit (HELOCs). In 2008, as a result of the decline in housing values across the country, AmTrust unilaterally suspended use of its customers’ Home Equity lines of credit precluding access to these funds and the privileges of maintaining these accounts. Many people rely on access to the equity they have built up in their homes as their financial safety net. Absent any for-warning or individual assessment of their customers property value AmTrust denied their customers the privilege and access to these lines which customers paid annually to maintain. Accordingly, a class action complaint has been filed on behalf of our client by Landskroner Grieco Madden –TeamLGM, to recover the annual fees charged to customers by the bank for what it has failed to deliver to its HELOC customers as well as the costs incurred by customers resulting from the wrongful suspension of their lines.
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