Ahead of Court Hearing, Floridians For Honest Lending to Highlight Blatant Foreclosure Abuse in Miami-Dade County
We issued the following press release to call attention to an egregious case of an elderly man facing the prospect of losing his home over a $20 accounting error.
91-year-old man faces thousands of dollars in legal fees over $20 accounting error
Continuing in our mission to raise awareness of widespread and systemic abuse by financial institutions against borrowers facing foreclosure, Floridians For Honest Lending is highlighting the case of a Miami man whose outrageous story will be in front of the Court this Friday.
91-year-old Jose Torrado is still fighting in court over an abusive foreclosure, in a case he already won once. The bank that falsely filed foreclosure, which Mr. Torrado beat, now claims they are not liable for his legal fees and they assert they had the right to foreclose on him over a $20 accounting error. The case arises from a reverse mortgage Mr. Torrado obtained in 2008 for the home he has lived in since 1997. The bank in this case, Bank of New York Mellon, attempted to foreclose on Mr. Torrado, inundating him with confusing demands he did not understand and then trying to take his property without giving him reasonable time to respond. The foreclosure action was filed because the bank billed Mr. Torrado $3692 for a homeowners insurance policy it purchased. Mr. Torrado already had his own homeowners policy. The lender filed foreclosure before they could clear up the accounting.
With the help of his attorney, Ricky Corona, Mr. Torrado successfully fought the foreclosure case and the case was dismissed. Yet the nightmare isn’t over, as he tries to recuperate thousands of dollars in attorney’s fees. He is being asked to attend yet another hearing on this matter on Friday. Floridians for Honest Lending will be hosting a press availability for select media on Friday, August 20th at 8 a.m., to discuss the case and how it exemplifies the abusive foreclosure practices borrowers face when dealing with financial institutions. We will also be discussing the need for legislation at the state and federal level to avoid cases like Mr. Torrado’s in the future. Media is encouraged to attend the court hearing at 9 a.m. but most register with the Court in advance.
Senator Ileana Garcia (FL-37), who is working with Floridians for Honest Lending to highlight these abuses, is available to discuss legislation that could protect homeowners like Mr. Torrado.
WHO: Jose Torrado, his attorney Ricky Corona, Floridians for Honest Lending, State Senator Ileana Garcia
WHAT: Press availability around case of Jose Torrado, a victim of wrongful foreclosure
WHEN: Press availability on Friday, August 20, 9 AM | Court Hearing over ZOOM on August 20 at 10 AM
WHERE: Email for details of press availability | Email comms@honestlendingfl.org to attend ZOOM
CASE INFORMATION:
BANK OF NEW YORK MELLON TRUST COMPANY, N.A., AS TRUSTEE FOR MORTGAGE ASSETS MANAGEMENT SERIES I TRUST, V. JOSE TORRADO,
Opinion filed June 30th, 2020.
IN THE CIRCUIT COURT OF THE 11TH JUDICIAL CIRCUIT IN AND FOR MIAMI-DADE COUNTY CASE NO.: 2019-031399-CA-01
BACKGROUND ON MR. TORRADO:
Jose Torrado came to the United States 53 years ago from Cuba. He was anti-Castro and the Castro regime would harass him. He left Cuba on a Visa and first arrived in Boston, Massachusetts. His first job in the United States was in an industrial factory making briefcases in Boston. He learned some English. He learned to be an airplane mechanic and went from Boston to Los Angeles. He moved to Miami in 1976. He bought a small plane when he arrived in Miami and worked as a flight instructor for 18 years in Homestead, Florida. He and his wife, Juliana, were married for 65 years. They have 2 grandchildren and 3 great grandchildren.
He and his son owned Roberto’s gun shop. Mr. Torrado’s son passed away.