Tuesday, November 16, 2010

Stern's DAL Enters Forbearance Agreement With Bank of America Over Credit - Bloomberg

Stern's DAL Enters Forbearance Agreement With Bank of America Over Credit - Bloomberg: "A business run by David Stern, the Florida foreclosure lawyer who is under investigation by the state’s attorney general, entered a forbearance agreement with lender Bank of America NA.

The bank agreed not to take action in the period ending Nov. 26 over a default on a revolving line of credit by DAL Group LLC, a unit of Stern’s foreclosure-processing company, DJSP Enterprises Inc., according to a regulatory filing. The credit line, entered into in March, has an outstanding principal balance of about $12 million, DAL said."

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I'll let the irony just work its way through the system.

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