Bank of America Whistleblowers: we were told to lie about mortgages and modifications

[devil21]

Anyone that lost a house and credit trashed due to these sorts of shenanigans at BOA should contact an attorney. It's likely that similar stuff goes on at other banks.

 

http://www.naturalnews.com/041410_Bank_of_America_housing_bubble_home_foreclosures.html

 

 

(NaturalNews) Americans still reeling from the collapse of the U.S.
housing market and who lost homes or tens of thousands of dollars in
equity are going to be especially upset by news that one of the lenders
at the heart of the collapse, Bank of America, is guilty of fleecing
borrowers and rewarding foreclosures.

According to BOA
employees-turned-whistleblowers who have signed sworn statements
attesting to the validity of their accusations, "Bank of America
employees regularly lied to homeowners seeking loan modifications,
denied their applications for made-up reasons, and were rewarded for
sending homeowners to foreclosure," investigative journal ProPublica is reporting.

more at link

[ICANHASMUNY?]

but we knew this already.

 

even if the states or feds pry out settlements from the banks on the foreclosure mess, it doesn't restore their houses and lives back to where it was.

 

 

It doesn't however, strengthen the claims that banks shouldn't bundle your mortgage and sell them on the open market.

 

most of our house payments are going overseas to foreign investors.

 

 

Mortgage lending should be local, local banks lend money so that they can pay interest to depositors.

 

that " old rule" is broken in America.

[PhoenixDown]

 

Mortgage lending should be local, local banks lend money so that they can pay interest to depositors.

that " old rule" is broken in America.

 

I agree with you ... I found an old CD from a family member that passed away.... 13% interest!! Can you imagine? I'm not sure what the interest on her mortgage was but the local bank manager sat down with her and granted it.

[devil21]

but we knew this already.

 

even if the states or feds pry out settlements from the banks on the foreclosure mess, it doesn't restore their houses and lives back to where it was.

 

 

It doesn't however, strengthen the claims that banks shouldn't bundle your mortgage and sell them on the open market.

 

most of our house payments are going overseas to foreign investors.

 

 

Mortgage lending should be local, local banks lend money so that they can pay interest to depositors.

 

that " old rule" is broken in America.

 

It's a class action suit, not a federal enforcement action. No one is prevented from bringing an individual claim against BOA unless they join the class action. You won't get your house back but you can at least try to not take it up the rear. If this picks up steam then there will be lots more attorneys ready to sue.

Edited August 1, 2013 by devil21