A bank is suing over claims a home equity loan has gone into default.
Bank of America, as successor by merger to BAC Home Loans Servicing, filed a lawsuit Oct. 24, 2014, in Jefferson County District Court against Samuel, Olga Y. and Jennifer Melendez, and the unknown heirs at Law of Olga Melendez.
According to the complaint, Olga Melendez died March 8, 2010, and the defendants inherited her interest in property on Mt. Zion Road in New Waverly. The lawsuit states on Sept. 25, 2007, Samuel and Olga L. Melendez executed a home equity loan against the property but at least 34 regular monthly payments have been missed and more than $51,685 is required to cure the default. The plaintiff says the amount required to pay off the loan is more than $170,448.
The bank seeks declaratory judgment allowing it to proceed with nonjudicial foreclosure. It is represented by attorney Coury M. Jacocks of Barrett Daffin Frappier Turner & Engel in Addison.
Jefferson County District Court case number: B-196307