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San Diego sues Bank of America over foreclosures
July 23, 2008


Reuters - San Diego City Attorney Michael Aguirre said on Wednesday he had filed a lawsuit against Bank of America Corp and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."

San Diego City Attorney Michael Aguirre said on Wednesday he had filed a lawsuit against Bank of America Corp (BAC.N) and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."

Aguirre said he plans to file similar lawsuits against Washington Mutual Inc (WM.N), Wells Fargo & Co (WFC.N) and Wachovia Corp (WB.N) in an effort to make the lenders negotiate with mortgage borrowers facing foreclosure.

"We would like to see San Diego become a foreclosure sanctuary," Aguirre said.

"We haven't seen the lawsuit and can't comment," said Bank of America spokeswoman Shirley Norton.

(Reporting by Marty Graham in San Diego; Writing by Jim Christie; editing by Mark Porter and Carol Bishopric)


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