Foreclosure victims blame Trump’s top economic advisor for booting them from their homes
Victims of foreclosure across the country are working on a lawsuit against the LNV Corporation, which is directly connected to the Trump campaign.
According to a new report from the Intercept, Donald Trump’s economic advisor, billionaire and poker player Andy Beal, is at the center of the lawsuit. Beal is the board member of the LNV Corporation, and is the sole target of the legal battle.
Beal was named as Trump’s economic advisor earlier this year and in a statement on the matter, a spokesman for Beal Service Corp wrote the following:
Andy Beal reaffirms his belief that Donald Trump will do much more to help America than Hillary Clinton could ever imagine doing. Mr. Beal has known Mr. Trump for many years and knows him to be a highly intelligent man who makes excellent reasoned decisions …
Mr. Beal believes that current US government is the problem, and that more of the same simply perpetuates the problems.
One of the plaintiffs, Denise Subramaniam, is alleging that the corporation “forged evidence to prove it owned her loan, and that the summary judgment for foreclosure issued by the lower court violates constitutional protections regarding due process,” David Dayen writes.
There are three lawsuits — including Subramaniam’s — against LNV that are taking place before the 9th Circuit in Portland, Oregon, and various others across the country.
The plaintiffs from Oregon and elsewhere have formed an “informal network of homeowners” called the Victims Group. It is made up of 15 participants who help one another with their foreclosure cases via email and phone.
Subramaniam says, “Those of us who have survived this process have come together. It saves us time and makes us smarter.”
However, LNV lawyers and spokespeople have suggested that the Victims Group is a sham. “The allegations raised by the borrowers are categorically false,” senior vice president for corporate communications Jim Chambless wrote in a statement.
Chambless adds that the allegations “have been disproven and vetted by the appropriate authorities all over the country.”
Dayen notes, however, that the cases around the country that focus specifically on Beal form a pattern. Specifically, that each plaintiff received a mortgage “with companies other than Beal’s,” and when the housing market collapsed in 2008, Beal, through LNV, acquired all those mortgages.
You can read the full report from the Intercept here.