Homeowners File Class Action Lawsuit Against Bank Of America For Allegedly Failing To Modify Troubled Mortgages
A class action lawsuit was filed against Bank of America in U.S. District Court, Western District of Washington (Seattle), No. 10-00488, on behalf of homeowners alleging that Bank of America reneged on a promise to modify troubled mortgages as a condition to accepting twenty five billion dollars of federal bailout money, according to a class action news report at news.yahoo.com/s/nm/20100323/us_nm/us_bankofamerica_mortgage_lawsuit.
The Bank of America class action lawsuit reportedly alleges that Bank of America agreed to take part in the U.S. Treasury Department’s $75 billion Home Affordable Modification Program (HAMP) since it accepted bailout funds from the Troubled Asset Relief Program (TARP), but allegedly had an incentive not to modify loans because doing so might cause it to repurchase more loans, collect lower servicing fees, or assess lower default charges because fewer payments would be deemed late.
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Check out the documents from the Regulators review of foreclosures: http://www.propublica.org/special/documents-from-the-regulators-review-of-foreclosure-practices
Isabel and Everyone …
I’d be very careful with what we “think” these documents actually say.
In the first place, they are “orders” issued by THE FEDERAL RESERVE … a private corporation … not a judicial or law enforcement entity of The United States of America (which itself is, in fact, also merely a private corporation).
Secondly, in reviewing what they say, there is a strong emphasis on cleaning up their technical processing of mortgages, not a mandate to keep that process legal … or any mention of potentially fraudulent practices.
It’s my [amateur] opinion that the issuance of these “orders” is just a “feel good” response to the fraudulent activities of banks, and not a “real” response at all.
In other words, the Federal Reserve … not the Attorneys General or any judge … have told the banks to clean up their act … PROCEDURALLY … which isn’t even a slap on the wrist.
It all sounds very official, but in the end all it’s really saying is “dot-your-i’s-and-cross-your-t’s” and not much else.
And that’s in addition to the fact that it’s merely a private corporation telling other private corporations how to conduct business.
I have yet to see any handcuffs used … where handcuffs are clearly called for … not “feel-good-double-speak” orders between bankers.
Absolutely Don! This is just the TIP of the iceberg! There is many more all over the country. I truly believe that my docs are also forged. Why? Well, when my attorney asked Bank of America more than a year ago to produce ALL documents related to the origination of my loan, this was Bank of America’s response: “Please note that all other requests are declined as they seek documentation that goes beyond that which is available through a Qualified Written Request made under 12 U.S.C. 2605 (b).” Really? I have in my posession this letter. The funny thing about this is not only were they refusing to supply my attorney with some of the docs which I am pretty sure were forged, but they are also admitting that Qualified Written Requests were submitted to them. I find this very incriminating because they told the OCC, Attorney General, Congressman and other regulatory agencies that they NEVER received any QWR’s from me, ever! The case was closed after that. This is called “Obstruction of Justice.” If a regulatory agency is probing an investigation and the persons or company implicated gives false information or provide false testimony, it is obstruction of justice. http://en.wikipedia.org/wiki/Obstruction_of_justice. Of coarse, I already knew that they are guilty of this crime and therefore I filed my lawsuit alleging “obstruction of justice” by Bank of America which is one of the 35 crimes under RICO. In addition, Barbara Desoer lies to Congress and blames the investors for not modifying loans: http://en.wikipedia.org/wiki/Obstruction_of_justice. We all know the truth and it is coming to light at rapid speed. Bank of America better hope that my case doesn’t go to court because my husband and I have a huge arsenal of evidence that will bring them down!
Oops, put the wrong link for Desoer. Here is the link: http://www.propublica.org/article/Bank-of-America-Blames-Investors-for-Lack-loan-mods-its-not-true
This message is for don, I am a pa resident who really. Needs to share my horror story that has spanned over three years , with bax countrywide , decision one mortgage , I just am asking for You to send me your e mail address and I can sit an type the whole story… Currently o have a fed ex package due may 13 , with the official Obama making homes affordable application and o am not sure what to do , we owed 134,000 but now they say we are 80,000 behind on payments with legal and late fees , and the hour os worth 190,000. But we want to stay, Please reply don……?….. Thanx. Wayne stewart Bucks county pa, Waynethebrane@yahoo. Com
How do I join the class action law suit againt bank of america and countrywide home loans? These two company’s have destroyed my life. first with preditory lending against my mother of 71. then i get the house and countrywide approves me for modification, make me send thousands to them western union, then sell my morgage to boa, who will not honor the mod. they in turn send default notices, i tried to get apps from then over and over, and then forclosure notice. I just moved out and thought the bank would forclose, now 2 years later it sits empty and vandalized, now a month ago boa sends me app? this is nuts, now they want over 80,000.00 from me to modifify. I fell like retaking the home just to make them force me out. I am so angry. Karen, ps please send me contact for joining this class action. thanks
Karen …
Your story reflects so many of us. For your own sake, I would strongly suggest you read back through this forum to understand what you’ve gotten yourself into. Simply click on “Previous Comments” in light blue at the top or bottom of this page.
Unfortunately, there’s a lot of misconception out there about how to fight this thing. You’ll need to be open-minded in order to save your home, as well as learn how all this REALLY works.
How do you join the mortgage class-action against Bank Of America
How are you doing now? I tried to modify, but they kept saying they didn’t receive anything. I send and resend everything, and now it’s lost to people that are not bonded, the Hope program. They have my soc sec, drivers lic, bank statements and everything else. After 3 times, they send me a new application and I told them I was not filing out again, they stated I refuse a modification. Not true. Now, after 2 years without a job, I am not paying the morgage for the last 5 months. I filled out paper work for a HAFA short sale, but still have not heard that I am approved. I have received offers but they are so low. I am worried because if I sign them under a regular short sale that I will be responsible for the difference that the buyer doesnt pay. In addition, I found out I will have to pay taxes on the difference if the bank writes it off. This would be 32,000 dollars, that I do not have. I think they play games with people. So, if anyone knows about a law suit, “I’m In”
That same thing happened to me. I faxed, re-faxed, fed-ex’d and re-fed-ex’d….Finally I called the corporate office and amazingly they FINALLY found everything. But they took their time and month after month asked for something else. It took over 1.5 years for it to go thru. KEEP CALLING….at least once a week and keep calling corporate – that was the only way I was able to make any “headway”…..be a pain in the a**….I even filed a complaint with the Banking Commission in order to get them moving.
How do you join the mortgage class action suit against B of A?
Karen, Cheryl and Jill …
As I mentioned, please read back over this forum …
… but I’m compelled to mention something else, which regular readers may be tired of hearing. Unfortunately, it’s worth repeating … over and over if necessary.
We have been “fooled” in this country that class action lawsuits are somehow bad for the banks, or any other corporation. As a very brave attorney pointed out on this forum a few months ago, quite simply they are NOT bad for the banks. The banks love it when many homeowners “band together” under one lawsuit.
“Banding together” under one lawsuit essentially silences the details of your case. You must “conform” to the stipulations of the class. The details peel away and you are subject to that class and any decision by the court.
Cases are won or lost in court on the details.
But that’s in addition to the fact that a class action lawsuit makes it cheap and easy for the banks to defend itself … sending one, small legal team to fight many homeowners … possibly thousands.
Wouldn’t you prefer to make it hard and expensive for the banks to beat you into submission rather than cheap and easy?
Please consider learning about your situation. It may not be what you think.
They gave me a trial payment last year October,November and December 2010. Then mailed me a letter requesting additional documents before Jan 13th 2011 so I faxed all documents the day before only to get another letter saying that they had closed my case because of my failure to provide the above mentioned documents.. I was able to speak to the lady that had actually sent this letter to me and after faxing her the proof that I had indeed sent the documents on time she reopen the case and said that it will be assigned to someone else. 4 months went by and I never heard from this “someone else”. I got frustrated because when you call this people the customer service rep always gives you the same line “It is under review”. So I called the lady back to explain that I had not heard from anyone and that I need it to know the status of my case. This time she gave me not only the person in charge of my case’s phone number but her supervisor and the supervisor’s manager as well. I called their manager and within two days the lady assigned to my case calls me, apologizes to me for all of this time she never called ( 5 months) and asked me to fax her pay stubs (May) 2010 tax returns and bank statements (April-May) and to giver her a week for a final decision. Guess what was the final decision?? I do not qualify because of insuficient income!!…. Just like that! All this over the phone. This was last week and I am waiting for a written document from her explaining all this….
I’m not going to join any class action lawsuit I am going sue myself independently I’m going down with a fight.
I am a 60 year old who has tried twice to get a loan modification from Bank Of America and have been denied for reasons I don’t understand. I was told that I didn’t have enough income and my house wasn’t worth enough. I recently tried again and was told I need to call beack before I make a payment. All this is confusing to me, but after finding out that they took the bailout and are refusing to allowing people to modify, sign me up.
Well I am working with Bank of America a 4th time on a modification. The 1st time I was approved and that was the last I heard from them. The latest they are saying I have hidden money in another bank, which I do not. Then they have gone silent on me, until I recieved a letter from them saying I have to complete the modification by May 2 or they will foreclose. I have ideal what I have to do and as everyone says you get trapped in their phone system and get no where.
Try a short sale. But I am not sure it will work either, if you read what I wrote above.
I hope this law suit is going on and that I can gone it. I have been trying to do my home modification since Oct. 2009 today is April 25, 2011. I keep sending in different paperwork and never hear from anyone.
I lost my job Jan. 2010 and still looking. Missed 2 payments and now I am getting calls 2 to 5 a day – I paid the bill, but they keep calling and adding late charges.
They denied the HAMP due to loss of employment, but I had a job when I started this mess. Now they say they are looking for me a different option – right – foreclosure. I can’t stand this!
Why do we have to follow the rules if BOA doesn’t?
I’m in the same boat as many here. Countrywide sold my loan to Bank of America right in the middle of a refinancing for a fixed interest rate. Even though the payments were increasing, we managed to make the monthly payments from Nov. 08 until March 09 which was when my husband’s company closed its doors and he was left unemployed. My salary alone and his unemployment were not enough to cover our monthly mortgage so I called Bank of America to request a modification. Since then I’ve completed the same forms through phone conversations and manually. It was a constant run-around until I finally received a letter saying that I qualified either for the HAMP program or modification. But, last week I received a letter saying that the value of my home was lower than the loan. They suggest that I provide a deed in lieu of forclosure or do a short sale. The appraisal method used was based on an appraiser’s outside view opinion. I’m not even sure he was looking at the right house because my house is one of the best looking around here. And according to tons of other websites such as zillow and others, my house is valued much more than what this appraiser’s “opinion.” We are and have been the only owners of this home and I’ve lived here for the past 12 years and don’t want to lose my house. What’s happening? Where can I go or write to? What can I do? Suggestions please…
One place you can start is actually off the forum. See PiggyBankBlog.com …
A list to get you started –
piggybankblog.com/2009/11/08/piggybankblog-writer-don-sweet/
A story to help you understand –
piggybankblog.com/2008/11/08/don-sweets-latest-article/
I posted there to save space here. New items and a change on #18 haven’t been edited yet, so I’ll post them here …
18) Isabel Santamaria fo Florida is spearheading the collection of your stories for use in court against the banks. This is a CRITICAL use for items 1) and 2), your journal/diary and timeline, or simply a statement of your experience.
Banks are being found guilty in court for a pattern of fraud when many “affidavits” are presented describing the same pattern over and over with many people. Telling just your story in court doesn’t cut it. Judges, courts and juries need to see the testimony of many homeowners to understand (and record) a pattern.
You should have these timelines and journals notarized, scanned, and placed in the “repository” or online data base we are developing so anyone suing or filing against the banks can access the statements when filing a suit.
In advance, you should be aware that you can’t remain anonymous to the court. You’ll be providing your contact information and signing these statements. Judges and juries need to see that you’re a real person.
You can’t just “claim” widespread, systematic abuse without documentation. You have to PROVE it with affidavits. A database is being created and the details are being worked out. More news and details later as they develop. Email Isabel at Isabel-1229@hotmail.com for details and updates.
19 ) Although it’s controversial and you should check your State and local laws before hand, you can record your conversations with the bank WITHOUT telling them. When they say “This call may be monitored or recorded …” they have broken a basic principle of law called the “privacy covenant,” where phone calls have a basic expectation of privacy. Once they say that, you can record to your heart’s content. But again, some attorneys express caution, so check your State’s laws.
20 ) Research is showing that filing for Quiet Title can be tricky and possibly expensive, although not impossible. It’s my opinion that it’s going to be based on a LOT of research before you dive in. Apparently, the courts will be VERY careful to dot every “I” and cross every “T” and several people are suggesting a Quiet Title specialist attorney.
Of course, introduce “attorney” into it and you immediately add $$$. Make that a specialist and I’d imagine you’d easily double it.
That’s probably where the research plays a critical role … including ramming a RESPA/TILA letter down the banks’ throats, as well as hunting down actual paper records of your loan in your county/parish. It’s not going to be as easy as “the bank did me wrong, so I want my house” and the judge saying “ok.” There’s going to have to be provable fraud or broken “chain of transfer” eliminating their right to your property.
Even before you approach an attorney, you’ll need to know these things AND have accessed the documentation to prove it, or you’re wasting your time. It’s far from impossible, and could even be highly likely given the MERS debacle … well, shall we call a fraud a fraud … but going the Quiet Title route is going to be work, work, work.
C Mood, Ken and Wanda …
Welcome to the war.
There are, however, some things you should know.
There is no lawsuit … particularly on this web site … simply to sign up for.
That’s not how this works.
But also, “lawsuits” aren’t some slap on the wrist that tells the big-bad-bank to behave itself and give you your modification.
A lawsuit brings your mortgage contract in front of a judge where he or she decides who did what wrong, if anything, and decides who owes who what … if anything.
Wanda … that should answer your question about “following the rules.”
As homeowners, most of us don’t even know what those rules are. The rules are “statutory law” or contract law. We know virtually nothing and the banks’ lawyers know those rules inside and out.
One of the really important “rules” is that you do what you said you’d do in the contract you signed, which is pay back the money you borrowed.
That’s the raw fact of the matter.
When you get to court, the judge will look at whether or not you held up your end of the agreement … no matter what the bank did or didn’t do … he/she will ALSO look at what you did or did not do.
All of this is looked at through the eyes of the LAW … not right and wrong or what you think you’re entitled to … and the court/judge/jury will only look at words of the contract you signed and contract law.
“I-just-want-my-modification-and-to-get-on-with-my-life” isn’t good enough …
… and it’s unlikely any lawsuit will get that for you … particularly a class action lawsuit.
Like me (and many others that come here), what you THINK is going on here isn’t ACTUALLY what’s going on here … and what we’re raised in this country to believe will “fix” it simply isn’t true.
Throwing around the threat of a lawsuit means NOTHING to the banks, particularly a class action since they LOVE class actions. Throwing one or two really sharp lawyers at perhaps hundreds of homeowners is a dream come true for the banks. It’s cheap and it’s easy.
Now … throwing hundreds, if not thousands of INDIVIDUAL FILINGS at the banks absolutely TERRIFIES them, since they’d have to send thousands of expensive lawyers to defend themselves.
Keep in mind that a “filing” is not a lawsuit. A filing is something you’re asking the court to force the banks to do, or prevent the banks from doing something they shouldn’t. That’s not a “lawsuit.”
For your own sake, please read back through this web site to see what you’ve gotten yourself into. There’s a lot to learn … and the most critical thing about that is the fact that if you don’t learn it, it’s highly likely you won’t “win.”
That’s simply the fact of the matter.
Don S..you work for Bank of America..right?…right
XM …
HA!
This came up back in October … people questioning who other people were. Never can tell who is who on a computer.
But no, not even close. I have absolutely no problem fully identifying myself, and even appeared on Fox29 Philly news last August to talk out against this thing. The video is still up …
myfoxphilly.com/dpp/news/local_news/mortgage-aide-program-gets-mixed-results
And to end any speculation in October, I posted a short bio (about a quarter down the page) …
https://classactionlawsuitsinthenews.com/class-action-lawsuits/bank-of-america-mortgage-modification-class-action-lawsuit-filed/comment-page-19/
So … “xm” … who are you?
I am one of the lucky few that have had my modification completed. That’s not the end of it. They reported to my credit that for 13 months I did not make a payment. This is completely untrue. I missed one payment. They refuse to correct it. Now they are tacking on fees to my account. I have spent hours and hours writing letters and making phone calls. I am now in contact with my congressman. He is attempting to get it remedied since this was a goverment program.
How are you doing now? I need new info. I tried to modify, but they kept saying they didn’t receive anything. I send and resend everything, and now it’s lost to people that are not bonded, the Hope program. They have my soc sec, drivers lic, bank statements and everything else. After 3 times, they send me a new application and I told them I was not filing out again, they stated I refuse a modification. Not true. Now, after 2 years without a job, I am not paying the morgage for the last 5 months. I filled out paper work for a HAFA short sale, but still have not heard that I am approved. I have received offers but they are so low. I am worried because if I sign them under a regular short sale that I will be responsible for the difference that the buyer doesnt pay. In addition, I found out I will have to pay taxes on the difference if the bank writes it off. This would be 32,000 dollars, that I do not have. I think they play games with people. So, if anyone knows about a law suit, “I’m In”
My husband and I are in a modification program now with Bank of America, but were denied due to there incorrect addition of our income to debt ratio. Also, they have not filed in the Massachusetts Registry of Deeds the right to own our note, since it was supposedly transferred from First Franklin to Bank of America. On another note, we had a second mortgage that is in limbo in outer-space in their records of exsistence to make payments on. The house is in “underwater” paid $355,000, now only worth $260,000. Any legal advice available to us would be most appreciated.
Cheers,
Donna
Folks …
For those of you in or near Ohio, or have your mortgages with Chase, several organizations have targeted a Chase shareholders’ meeting in Columbus so show their distain for the banks’ behavior.
foreclosurehamlet.org/events/may-16-to-17-columbus-oh-two
showdowninamerica.org/ohio
Now these are cute …
youtube.com/watch?v=5DoU8p1b2LM
youtube.com/watch?v=UfI__IC5z1U
Made by these folks apparently …
http://newbottomline.com/
And if you like to read …
Something that supports my comments about the Fed’s “orders” to banks at the top of this page (the writer even uses my “slap on the wrist”) …
newbottomline.com/weekly_bank_watch0414
And it seems folks in Iowa aren’t too pleased with their Attorney General, Mr. Miller, who is supposedly “leading” all the other AGs investigating the banks …
desmoinesregister.com/article/20110429/OPINION01/104290326/?odyssey=nav%7Chead
It took us almost two years to get Bank of America to approve our Modification. We did the three month trial… We received our Modification notice stating we were approved. Of course the Money was so much highter then the original payment. And now just last night we received a Fed X stating that they were going to start forclosure since we denied the modification. This was unreal! They mailed us all the documents and said mail them in ASAP. We were going to ship them out that night. We got a call from the Bank and said don’t mail them, we are sending our notary to your house. Made an appointment, we signed all the forms and the notary said that was all we needed and congratulations. I’t felt good and the stress of forclosure went away for those two months. Now I call and asked why did we received this letter from you she said that they received everything but the Dooc Paper that should of been signed. So this means we denied the loan mod. I told her you sent your person to us with all the forms you needed and now one is missing and it’s our fault. We ran to see our Attorney and she was on the phone with these clueless people who work for Bank of America. I’t is now going through an appeal because they did not receive the paper from their Notary. Now here we go again, back to square one. They can just do what they want to do. I have never experience anything like this in my life. We work so hard and did everything they told us to do. It all back fired. Now we wait.
How are you doing now? I tried to modify, but they kept saying they didn’t receive anything. I send and resend everything, and now it’s lost to people that are not bonded, the Hope program. They have my soc sec, drivers lic, bank statements and everything else. After 3 times, they send me a new application and I told them I was not filing out again, they stated I refuse a modification. Not true. Now, after 2 years without a job, I am not paying the morgage for the last 5 months. I filled out paper work for a HAFA short sale, but still have not heard that I am approved. I have received offers but they are so low. I am worried because if I sign them under a regular short sale that I will be responsible for the difference that the buyer doesnt pay. In addition, I found out I will have to pay taxes on the difference if the bank writes it off. This would be 32,000 dollars, that I do not have. I think they play games with people. So, if anyone knows about a law suit, “I’m In”
Have been going thru the loan modification process in excess of 10 months. Have been mislead, misinformed throughout the process. I would like to participate in this class action process.
Peter
I was a victim of BofA modification “scam,” I ended up selling my house on a short sale and my credit is ruined as a result. I would be happy just to get my credit score back.
I applied for a making homes affordable modification loan, initially in May 2010 with BOA. Providing all the documentaion they required in a timely manner as requested never making my payments on time.
The first of May this year, I received a letter from BOA stating I failed to proove my case, and was denied the modification. The customer service department stated, the reason was that I made my payments on time and was not behind. I called the next day and requested to speak to a manger and he
stated I was denied because I did not suffer a death disablilty or divorce.
I have read many of the above comments and understand that a contract states one must pay on time. I pay on time. My home is worth $119,000.
and I owe $152,000. Prooving through Income Tax records the loss in income and increased healthcare costs, how can they get away with this?
My mortgage was originally Countrywide and therefore overvalued at the onset. My goals was to simply get a lower interest rate and roll the taxes and insurance into the mortgage. I was not even looking for a reduction of the loan amount and look what happens when you are honest, make your payments on time and follow the rules.
Brian T. Moynihan the new CEO appointed January stated in a newsletter,
“To ensure homeowners receive the information they need to make the best decisions during these challenging times, we also hosted 14 homeownership assistance events across the country last year as part of our participation in the Alliance for Stabilizing our Communities, and we have 16 more planned for this year. We’re doing a lot — and we’ll do more.”
I believe he failed to advise his subordinates of this plan.
Thank you Bank of America for wasting my time.
Sandra
Hello,
Everyone needs to listen to this story, I have been in this mess with Countrywide/Bank of America for going on four years. Paid for two law firms to get this ordel straighten out. They basically just took my money, I filed a complaint with the Attorney General’s office, against CountryWide, the mortgage company, and the title company and they filed the lawsuit against Countrywide two months later. Did that help me or any of us, NO! They told me that I needed to get my own representation but never let me know when the statue of limitation would run out based on their suit. They are suppose to be in there to help with comsumer fraud, well, they did nothing. They got a slap on the wrist. They got the investor’s to buy these bad loans and they realized and sued, they won. Something is not right, why the government won’t do anything to them.
Well, they escalated my income to get me my loan, I found this out after having trouble with my first payment, due to the seller and the cover ups with the property. I tried to talk with the seller to have him cover the damages and he refused and I had to pay it out of my pocket because the pipes backed up and my house flooded with human waste just one week after moving in. WoW.
Well, I called CountryWide and they after just one missed payment suggested a modification, I am a first time homebuyer and did not know a thing about it. I told them I could pay half and the other half in two weeks, she said no that they didn’t want me to stress about it.
HA!HA! That was 4 years ago, this month. Yes, you have read this right. Now, there is more, they set me up with a trial payment schedule and I completed that fine, to show my ability to pay and when they got my financials and told me that I didn’t have enough income. I told them that it is the same as when I got the loan and she said that I did not qualify for the modification due to lack of income.
I have not paid anything since. I am still in my house.
Still waiting for the Attorney General out of California to respond to my complaint about a law firm who basically stole my money. That has been two months ago, so I guess they won’t be doing anything against them either. I hired them to get help with the modification process, I hired them for $3,000 in Dec 2009 to get the modification done, they haven’t gotten back to me. Why is that we just keep getting screwed with? Enough is Enough!! Predatory Lending and Mortgage fraud, I guess aren’t big offenses. It just caused our economy to go to hell, I can’t help but wonder if this was a calculated plan. I am not one for conspiracy theories, but come on, how did they (meaning the banks and mortgage companies) get by with this?
If anything the government should put them in jail just like Bagloavich(not sure of the spelling??? ) The crooked s.o.b’s. Where the financial regulators when all these loans were being passed through? Reading porn on their computers??
I have been talking with attorneys that say I have a case but they won’t take it because of cost.
It is all a bunch of bullsh… if you ask me.
I have all correspondence, all paperwork and legal precedents ready to go when push comes to shove, after all, I did go to school to be a paralegal. Just didn’t expect to represent myself in hidesite to all the complaints to the Attorney General’s of every state out there.
They need to do something about our paid, elected officials who keep turning their heads to this crap.
And the fraud continues to unfold …
http://www.news-record.com/content/2011/05/02/article/register_of_deeds_says_hes_uncovered_mortgage_fraud#nrcRgn_PgBody
The plot thickens! Bank of America had its servicer-quality ratings cut by Moody’s Investors Service after delaying foreclosures amid concerns that it mishandled mortgage paperwork. Read more here: http://www.bloomberg.com/news/2011-05-03/bank-of-america-mortgage-servicer-ratings-downgraded-by-moody-s.html
Yes!
Register of Deeds Jeff Thigpen, releases list of locals affected by mortgage fraud: http://www.news-record.com/content/2011/05/04/article/list_of_locals_affected_by_apparent_mortgage_fraud_released#nrcAnc_Middle2_Jump
More widespread fraud! The days of Bank of America’s financial terrorism and tyranny are numbered. Bank of America, you are going DOWN!!
Isabel (and everyone else) …
This is only ONE county. There’s 3,143 counties in the United States (some of them are “parishes”).
Let’s be really conservative estimating something …
The article says that Guilford County, North Carolina Register of Deeds, Jeff Thigpen, found there’s 4,500 documents that have been -quote-, “forged or improperly altered,” and another 2,300 that are suspicious. That’s potentially 6,800 illegal documents.
Let’s say the average county has half that … 3,400. Now lets say … just pretending … that there’s two fraudulent documents per property, making the average number of fraudulent foreclosures per county 1,900 …
… and remember this is CONSERVATIVE in estimating.
Multiply 1,900 fraudulent foreclosures times the number of counties … 3,143 … and nationwide you get SIX MILLION FRAUDULENT FORECLOSURES.
So … personally, I think it’s time for … as I’ve said … handcuffs.
It wouldn’t surprise me in the least if the real number was three times that.
Remember, all those documents are still on file, county by county across the whole country. They can’t be removed … except to be examined by auditors, registers of deeds, judges, juries, district attorneys and the like.
Between this and MERS, you’d think those counties … much less the homeowners … would be looking for a little retribution.
dear don s or anyone that can help, i am being evicted after bof a countrywide screwd my mom over on a 2nd . she wasnt even in her right mind and she passed. i need to no how to do respca letter an whatever i can do to stop this. i am disabled on social security with teenager. we have nothing else but our home and nowhere to go.i beenlied to over and over. im modification supposedly 4x poof gone. potponed sale date,then added another when they said there wasnt one. told house was sold at auction but its a lie. please give me some simple basics to stop this and get them worried instead of us thanx please help im so lost in all the info cant make heads or tails lori
Lori …
A list to get you started –
piggybankblog.com/2009/11/08/piggybankblog-writer-don-sweet/
A story to help you understand –
piggybankblog.com/2008/11/08/don-sweets-latest-article/
It sounds like you’re one of the folks that will need legal help … in some form or fashion. Unfortunately, lawyers are generally running away from these cases, not taking them on. Do you know a retired lawyer? A paralegal?
The one thing you may be able to do is file an “emergency injunction” with the court to ask the judge to stop the foreclosure/eviction so you can get yourself together and fight this.
If you can’t find legal help, maybe you can go to your county clerk and ask for a form to file an injunction, but some people are reporting uncooperative clerks when it comes to people filing themselves (it’s called “pro se”).
I have a sample injunction, but frankly Lori, you’d probably need someone to help you rewrite it to your case. If you’d like to see what an injunction looks like, email me at donsweet@verizon.net and I’ll send it.
I need help…..How do we fight back?
Lisa …
Please see my note to Lori above, or the one to Wanda and Debbie up the page. It has a bit more information.
http://www.alternet.org/story/150796/make_wall_st._pay_for_the_catastrophe_they_caused%3A_new_bill_would_fine_banks_%2420%2C000_for_each_forclosure?akid=6909.227380.WkAT4n&rd=1&t=8
This is how technical it gets. It’s particularly important for “pro se” filers …
http://www.stayinmyhome.com/blog/?p=1366
I have been having financial difficulties with my mortgage since CountryWide took over my mortgage in 2007, they failed to set up (ye told me my payment would be taken directly from my account) an automatic withdrawal from my account. Then “lost” my payment….I had been trying to recover from that and when I had to go to Calif for major surgery, paid all bills including mortg I was asked if I was going to also pay the back 3mos, I was livid, payments had been taken directly to a CW office here and I have receipts….in all from 2008-2009 they misplace, misappropriated close to $15,000plus late fees tacked on due to their mistake..a mod was in place beofre takeover by BoA, mort payments were put in a “blind ” acct til mod complted, paperwork was recd the same day it was to be returned, no one answered phone calls and the mod never went through…Bof A has done the same thing, the prob w CW never was resolved, and now they want me to make payments that are mor than 1/2 of my disability income..I am on a fixed income/not working and cant get them to work w me to straighten this out , return the funds owed and give me a more reasonable mo payment…I have heard the same from other people, they lose pprwork, funds not deposited to correct account, and recently a friends’ daughter recvd foreclosure though she also never missed payments in the 5yrs she lived in her house…BoA/CW must be made accountable and all of us exonerated/ given better terms/mortg plus credit for what is owed us.
I went through mediation with BofA and their law firm, Potestivo to secure a home loan modification. I was granted a trial mod with the Home Retention dept. I completed the trial mod exactly as ordered, but was later denied a permanent modification. I was told by my “Negotiator” (Andre) that I was $600 short in income per month to qualify. 3 months ago, when I started the mod my income was right on. My financial situation has not changed since the trial was granted. He said that there were “no guarantees,” and that I was told that my “final modification would ‘probably’ be the same as my trial – key word probably”. But, hey, I could begin another “brand new” trial modifcation with Making Homes Affordable, and pay a trial payment of $1,160.00 instead of the $820 payments that had been agreed to in mediation. $340 MORE per month than my previous trial payments. So let me get this straight-I have to make MORE $ to pay LESS, but if I make LESS $ I have to pay MORE. The Home Retention program is based on your NET income, but the MHA program is based on your GROSS income. A third grader could figure out that this doesn’t make any sense. It is a huge scam. I have been led around like a dog on a leash by this bank. I have faxed them close to 1000 documents over the past 1 1/2 years…duplicates over and over because they claim they don’t have them. They are either incompetent or criminal. They are not helping customers with modifications. Just look online at the similar stories from victims of Bank of America. America is not in a conspiracy against Bank of America. The taxpayers that bailed this bank out have enabled the very same coporation that brought this country to it’s knees to take advantage of the American people yet one more time.
You are right Cindy, it is a big scam! And Fannie, Freddie, the US Treasury and the Federal Reserve are all in on it.
If you happen to be a senior who receives a social security retirement benefits or a pension, they use your net income BUT then add an extra 1.25% to that, in the words of the US Treasury guy who I thought was going really help my Mom, they do this to be fair to those homeowners who pay taxes….
Like I said, they don’t do nothing for you in regard to a trial period payment plan until you fall behind on your mortgage or your property taxes, then they swoop in like vultures, raise your mortgage and give you a trial period payment that is still more than what you were originally paying then they show that they’ve reduced your monthly payment…according to the new mortgage payment.
I written letters to everybody, including the president, senators, Geithner, Holder, my State Attorney General, lawyers…nobody cares.
One simple thing States could do is strip Bank Of America’s corporate charter, but they won’t do this because of the $$$$.
This is the biggest land grab since we stole the land from the native Americans, and nobody seems to care. My Mom will pay the increased trial period payments for four months and see what they do and then she will probably stop making payments and file for a short sale after 4-5 months. A realtor told her she could probably stay in her home for 7-11 months without making a mortgage payment before losing the home. But have a plan B, on where you will live next if this is the path you choose.
My mom is just absolutely fed up with Bank Of America and would rather lose her home than give them another nickel.
We have been embroiled in the modification process w/ BAC since
October 2010….We are under the fed HAMP program….though we qualify on every point ( low income, loss of income from loss of job, disabled, disability income discontinued, single mom, foster son, home purchased in 2005, home valued at less than paid for it (Upsidedown).
BAC looks at and considers only 1 THING>>>MPV (or MVP…no one knows what it means). That only 31% of my income can go to mort payment…..SO all they want to see is that income is sufficient enough that 31% is satisfactory to THEIR criteria….enough to give them their PROFIT. Beside the ongoing stress, abuse and stalling tactics mom has suffered heart palpatations and was in the hospital for observation, her Rheumatiod arthritis has flares so she can hardly walk, and her anxiety lever has caused personality and physical symptoms.
Please PLEASE is there anyone who can stop this MONSTER???
According to the latest information our request for modification has gone to UNDERWRITING….and will give us an answer in 20 working days…..Meanwhile we are in suspended life (actually have been since this whole nightmare began)….We do not want to loose our home
we are responsibls and would gladly pay a reasonable mortgage, with
reasonable interest, Credit rating which has always been in the high 700s is way down….We would be willing to participate in any class action suit.
We look forward to hearing from you, Sincerely
my story is the same as everyone else… BANK OF AMERICA SCREWED ME…. I need a laywer to file a lawsuite… HELP
Carol, Cindy Josh and Alyse …
As it looks like a couple of you have done, it would be an idea to read through this page of posts as well as the previous page to learn a bit more about this situation and how to fight for your home. For the previous page simply click on “Previous Comments” in light blue at the top or bottom of this page.
Josh and Alyse … it’s particularly important for you to understand that’s there’s no lawsuit simply to sign up for, particularly on this web site. That’s on top of the fact … as we talk about here on the forum … that class action suits are not necessarily the best way to call the banks into account.
I’m just another homeowner like yourself and came here last year with the same misconceptions. There’s a lot to learn. Thing aren’t what they seem, and things don’t really work they way we’ve been told they do.
There’s a list of items I’ve compiled that you may find helpful to move your case along. It came about from the many posters here on the forum who have been researching and learning how all this really works. The list is here …
piggybankblog.com/2009/11/08/piggybankblog-writer-don-sweet/
And a story that helps you understand what’s going on is here …
piggybankblog.com/2008/11/08/don-sweets-latest-article/
Yet again, the 3rd time in a year they are making me redo the paperwork, AFTER they said that my paperwork had been assigned to an employee to do the Loan Mod. They lie and lie and lie.
There should be a nationwide lawsuit against them.
I’ve been waiting a year and they just keep stalling…they’re tactics are discussed on the news and they are still doing it.
BOA took over a year and a half to modify my mortgage but charged me astronomical fee’s that I had to pay when the loan was modified. I called in January of this year, they said it was FINALLY approved and my next mortgage payment was due in February. When I tried to pay online they would not allow me to. I called to inquire why and they said I owed close to $4,000.00 – one month of mortgage and fee’s to process they modification. Now mind you, I was paying my “trial payment” they whole time (1 1/2 years) and they only allowed me to deduct $1200.00 for this years taxes because of the modification. I have had nothing but problems with them. Last month they took out 2 mortgage payments by mistake and it took over 7 days to get the money back into my account; this was Easter weekend and I was over $2000.00 overdrawn on my account. They were ridiculous !!!
How do I check to see if they overcharged me on fee’s for the modification? If I could switch mortgage companies I would, but my credit is not good and I am stuck with them.
I know what you mean we were going through the loan mod since 2009 and march of 2011 it was to be finalized with a lot of money added on to our loan. Then to find out in sept. 2011 that they put us back into the loan mod program because they didn’t file the paperwork in a timely manner. We have been making all of our payments to get the final paperwork yesterday they say they don’t show a payment since the first of they year. Where the h**** is our money going. When we did our taxes this year we could only claim 1/2 of the interest. I’m getting ahold of a attorney tomorrow hopefully to get this done. I don’t want to be with them anymore but I can’t find another bank to take on our mortgage since they have ruined our credit. if any one has any ideas please help.
Seems like our good ole’ friends at Bank of America are closing in on a deal with the Attorney Generals of all 50 states that will make them pay a 5 billion dollar fine but they are asking for “immunity from prosecution.” GUILTY!!! They are obviously admitting their guilt of severe crimes but want immunity that would keep them out of jail where they belong. Incredible what this country has become. If you have enough money, you can buy the right to break the law even if every knows about it. Bank of America can produce conterfeit documents, steal, lie to Congress as Barbara Desoer and other BofA executives did (obstruction of justice), commit mail fraud, wire fraud, and many other fraudulent crimes that are supposed to be highly punishable by law. This really disgusts me. http://4closurefraud.org/2011/05/11/fraudclosure-immunity-from-prosecution-attorneys-general-knob-job-banks-again/
I’ve been in foreclosure with Bank Of America since November 2010. They just told me I had been approved for a Fannie-Mae modification. Starting June 1st I make three trial payments at the new trial period amount (They said my loan will be spread to 40 years and reduced from 5.75% to 5%). They said if I make all three payments on time it will become permanent. It sounds too good to be true and after reading all this I am thinking they are just scamming me and I’d be better off keeping my money for when I do get evicted. Anybody have any advice? Has anyone heard of this really working out as bank Of America is promising? How can I become part of this class action suite?
tony- i just completed the three month trial payments. got the mod agreement via fedex. signed and returned. they are having a notary come on monday 5/16 to sign final papers.
i agree, it does seem too good to be true. do you think they are trying to grant some mods in the last moments for appearance sake? after having been screwed around for months and months now they are moving quickly to get me to sign. some days two or three different people calling me leaving the same info apparently unaware that i have already spoken to someone.
i don’t think they know what they are doing but after having gone through all this, i do plan to sign the mod agreement monday. if nothing else i figure it will buy me some time(?)
You elected Obama and he is in on this, he is trying to destoy America, he gave this money to BOA and I am sure he knows exactly what is happening.
WHERE CAN I PLEASE SIGN UP TO BE PART OF A CLASS ACTION LAW SUIT AGAINST THE BOA FOR OUR LOAN MODIFICATION/ FORECLOSER PROBLEMS IN KANSAS CITY, MO.
kelly– i have an appt on monday for a boa notary to bring papers to sign to finalize loan mod. very nervous. too good to be true. how far did you get? why were you denied?
kelly, should have said- i am in kcmo too. would like to compare notes and i don’t know that i would be of any help but i will certainly compare notes if you want and try to help. i am so sorry for you and everyones struggles.
Hey guys, lets please try to help each other by answering posts if you have any input. We all know what it feels like right?
I am being offered the load modification (scam) that everyone is talking about. Did you ever get things resolved or have any of the lawsuits fixed anything? I don’t know if I want to walk away or try to keep my home by working with these crooks.
Thanks,
Tony Montes
Cheryl, Deb, Tony and K. Kelley …
About 6 posts up, I make some suggestions and clarifications for Carol, Cindy, Josh and Alyse.
You might want to have a glance.
We have been fighting with BOA since 2008. I had a case management hearing 5/11 and the judge was ripping the attorney for BOA a new one.
There were 40 cases in there just for foreclosure and BOAs attorney kept saying they had to lost paperwork,need more time, etc… the judge said ” Yes I have read somewhere you guys keep losing paperwork and I also read about the falsified documents.” Everyone in the court room was grinning. So for now the judge ordered mediation on our case. Not really sure what will have there. Not sure I even want to fight anymore.
Anyway.. Just wanted to say they haven’t won yet…….
WE HAD COUNTRYWIDE HOME LOANS SINCE 2003 WITHOUT ESCROW BECAUSE WE PAID OUR OWN TAXES AND INSURANCE BUT SINCE BOA TOOK OVER COUNTRY WIDE THEY CHANGE OUR MORTGAGE LOAN CHARGING US ESCROW WITHOUT NOTIFICATION AND MAKING OUR MONTHLY PAYMENTS AS PARTIAL PAYMENT CREATING A CAOS ADDING LATE FEES AND INTEREST PLUS THE ESCROW. NOW IT SHOWS THAT WE ARE BEHIND 22 PAYMENTS AND AN ADDITIONAL DEBT/BEHIND AMOUNT FOR OVER $19,000.00 SENDING US TO FORECLOSURE AND BRINGING DOWN OUR CREDITS SCORE. WE HAD FILE A COMPLAINT WITH THE COMPTROLLER CURRENCY BACK IN OCT. 2010 AND BOA WAS SUPPOSE TO COMPLY BY NOV.2010. WE ARE STILL WAITING FOR BOA RESPONSE. WE HAD PAID OUR INSURANCES AND TAXES UP TO 2010.
Confidential Federal Audits accuse banks (especially Bank of America) of defrauding taxpayers. Duh!! Well, it seems that Bank of America REFUSED to cooperate with the investigations (not a surprise). The Justice Department will possibly be filing RICO lawsuits due to massive amount of fraud especially against the government. The investigation has also concluded that the demonic institution called Bank of America never fixed the fraudulent foreclosures after the foreclosure freeze in October 2010. That would explain why they were back in fraudclosure action in 2 weeks! I guess we already knew that. Nevertheless, I hate to say it over and over again but Bank of America needs to be sued by homeowners for RICO violations. I sure did and I am so glad I did too. Every day there is more convincing evidence against them. Read the news here: http://www.huffingtonpost.com/2011/05/16/foreclosure-fraud-audit-false-claims-act_n_862686.html
How about we add the charge of racketeering to the arsenal against Bank of America? What else would you call it when you get a phone call asking why you are 5 months in default and THEN learning your mortgage was bought by another company 5 months earlier…but noone bothered to notify YOU? How about if this happens 3 times in a 6 year period? Each time the interest rates were re-adjusted by quite a bit. Think that’s bad? How about then discovering that Bank of America already OWNED some of these so called companies? Your mortgage was just being passed back n forth. Documentation lost, remods denied, etc. yes, i think racketeering will do nicely as it seems a conspiracy to defraud via illegal business practices.
Robert, I find it so hard to believe that Bank of America is not being sued repeatedly for racketeering. There are 35 RICO crimes: law.cornell.edu/uscode/html/uscode18/usc_sec_18_00001961—-000-.html & law.cornell.edu/uscode/html/uscode18/usc_sec_18_00001962—-000-.html. Can anyone tell me that Bank of America is not consistently guilty of General Fraud, Securities Fraud, Mail Fraud (any misrepresentation sent via US mail which can include lies about loan modification or mortgage account), Wire Fraud (committing fraudclosure and other fraudulent activity via wire or electronically)Embezzlement (of customers accounts and governement funds), Theft, Forgery (we all know about this one), Obstruction of Justice (Desoer lying to Congress and BofA lying to Regulatory Agencies such as the OCC) and many other racketeering crimes? I think not!! All you need to do is prove that Bank of America is committing at least 2 of the 35 crimes or predicate acts that are related if they “have the same or similar purposes, results, participants, victims, or methods of commission, or otherwise are interrelated by distinguishing characteristics and are not isolated events. We all know that this is the case with Bank of America. My husband and I filed our lawsuit in December 2010 and it includes RICO violations: free-press-release.com/news-florida-couple-file-lawsuit-against-bank-of-america-for-mortgage-servicing-fraud-loan-modification-and-rico-without-an-attorney-1299633088.html. We are very shocked that Bank of America is not being sued by the thousands for RICO. They ARE a Racketeering Enterprise, no doubt about it!
It is eaier for BoA to short sell your home and recoupe their money through Fanny Mae. they want to short sell my home for 90K and tell Fanny Mae it was worth 18oK and Fanny Mae will pay the difference. I live in Michigan and have the opption to pay off my loan, but BoA will not acknoledge the terms of the Michagin step forward program third option which would scure my home and bring my home up to date. It seems that their loans where secure but not ours. Where is our President and why is he letting this happening, he is the one who siad that he would protect us from people losing their homes. but it seeems like all he is concered about is keeping his job, and not caring about Americans.
The problem isn’t the prez not doing anything, as the governments bailout of boa , among others, shows. Whenever our government “rescues” institutions like hospitals or banks, there is always a clause that benefits the citizenry. In the case of hospitals it was an act that reduces or totallyforgives any medical bills owed by families within the poverty level. In the case of the banks it’s the remod program. The real problem is there is no regulatory organisation in place to monitor these banking practices. I think don is correct and we will soon see “handcuffs” put to good use. Unfortunately, the person or persons cuffed will be whoever boa sets up as the “fall guy”.
Thank God. I found this site. I am currently going through the same crap with a Loan Modification. They do nothing but give false information and snatched our home up and sold it without making a decission on the modification. They made 20,000 off the sale because we were not upside down. May 11 was the sell date and yet on may 12 I was contacted by a rep for more information in regards to the modification like they don’t know it sold already. I hope that this will finally go to a class action lawsuit so that everyone that has suffered can be avenged.
This is a house I bought as an investment property in 2007. I worked in the oilfield until 2009 when I was laid off. The house was not rentable and I had been working on fixing it up. I recieved a large severance and dumped it all into repairs on the house. I started having troubles when the only job I could find only paid about 2/3 what I was making before. I had put the house up for sale in February 2009 when I suspected layoffs could be coming for the amount I owed. Late 2009 I started looking for options and applied for a deed in lue. Everything was going well and the deed in lue officer I was working with just dissapeared. (This has happened twice) I talked to others at BOA who said there was no record of me having applied. They had my paperwork which I had sent but that’s all the further it went. I applied again. After a few weeks BOA contacted me and stated I was denied because of Back Taxes to the state. I contacted the state and paid off the taxes. My payments were OK at this time. I contacted BOA again restarted the Deed in lue. While it was in progress I lost my job again. Now I was in trouble. I could not make the payments. I contacted BOA and tried everything they had to offer to modify the loan, all attempts were denied. BOA again contacted me and stated I owed back taxes to the state. I sent BOA the reciepts and had the state send me an affidavid stating the taxes were paid. I sent everything to BOA. I applied again. They again stated I owed back taxes. they would not and still will not tell me where they are finding this information. I filed for a Deed in Lue again and the lady told me it was a race between forclosure and the deed in lue. I recieved the forcloser sale date shortly thereafter. I have hired a lawyer in this but I believe I need more help. They still state I owe back taxes. They lost my reciepts which I sent them from the state. They have lost the attorney authorization letter. They have lost numberous papers I have sent them plus they send a conciderable amount of mail for me to the wrong address. Today I was told by a BOA collector there was no record of me having applied for a deed in lue. My sale date is set for the 25th of this month. I believe it should be stopped and held until the deed in lue has been approved. BOA has shown every type of incompetance a bank could show.
Two very, VERY important articles …
http://www.huffingtonpost.com/2011/05/16/foreclosure-fraud-audit-false-claims-act_n_862686.html
http://www.nytimes.com/2011/05/17/business/17bank.html?_r=1&emc=na
I want to speak to someone about this Class Action Lawsuit. I live in Louisiana, how can I join? Will someone please let me know. I have been dealing with this since 10/2008. I have been turned down over 20 times, but not on paper over the phone. They will not put too much in writing.
We have been trying to work with BoA for over a year now, they have told us many conflicting stories. Now we are 8 months behind and no modification and not forclosure.
Now we find out they do not have our proper papers and they have been cought in paying people who do now really work for them to committ fraud and sign documents that do not really exists.
Sue for your balance a try to get your home free and clear. Right now we have no justice in this country due to Obama and it get’s worse by the day.
after 6 months pf jumping through hoops with b of a they finally said they didnt receive a profit loss statement from me. a flat out lie! I have the statement right here stapled to the other stuff I faxed them with a fax confirmation. they refused to even listen to me even though I have the proof. what can I do?
Please let me attempt to dispel some very serious myths that lead us all away from the truth of how this all works …
D. Thomas …
Unfortunately, what I see in your comments is what I’d call a “Big Daddy Complex,” not to attack your perceptions, but there is no “Big Daddy” out there to save us from the big bad banks. But also unfortunately, what we’re involved with here is “contract law” not politics. It’s not up to the president to save us. It’s up to US to save US. There are no heroes here. There are no all-seeing saviors and patriarchs who watch over us. These are issues governed by law and courts … and contracts. It’s not about right, but rules. Sadly, that’s how the system works … or doesn’t work. I can’t avoid the expression “Those with the money make the rules.” The war here is to FORCE the courts to apply the rules. Politicians are only a small part of that. BUT … WE have to wage this war … personally.
JM …
Careful here. As it’s been pointed out … and VERY intelligently by an attorney with great risk to his career … that class action lawsuits are NOT “painful” for big corporations like banks. Class action bring all the “complainers” under one suit where one small legal team can shoot them down in one shot. That’s easy and cheap for the banks. Not only that, but virtually all class actions take years, sometimes decades to settle … with often extremely limited results. The key here is individual FILINGS (which are not suits) against the banks where they are forced to send hundreds if not thousands of expensive lawyers to court.
Tim …
I can see that you’re caught up in two things that the banks LOVE for you to be distracted by … first, that they’re working for you. They’re not. They’re working for their executives, board and shareholders … for the sake of profit … period … NOT your welfare. Secondly, they’re not “incompetent” in the least … although that’s what they’d love for you to believe. Since the majority of what they do is driven by the opinion of lawyers, the first thing the corporate types ask lawyers when planning, is “How can we steal peoples’ homes without the court coming down on us?” The answer is “Look stupid. You can’t look malicious.” They spend hundreds of millions on training their staffs, and they DON’T do it “wrong.” They’re professionals. It’s easy to see that building in what looks like incompetence is really a method to grab homes while you look like idiots to a court.
Everyone else …
Please read through this page of posts, and read backwards on the forum. There’s lots of information (not just from me) about how this works and what to do about it. But there are some CRITICAL misconceptions we all have to get over to get this right. To read back, simply click on “Previous Comments” at the top or bottom of this column. Research and learn. Don’t leave it up to someone else … then ACT on what you’ve learned to help save your homes … and, frankly, to preserve your rights as American citizens. Banks have hijacked “The American Dream” and made us believe paying them is the only way to get it … when The American Dream is about RIGHTS AND FREEDOM, –without– pouring every nickel we earn into a bank.
Just thought I would share an interesting video that is over two years old with my fellow warriors. It is over 10 minutes long but pay extra attention to the last 4 minutes or so. Max Keiser says that the only real way to bring these Banks down is with RICO: youtube.com/watch?v=3hbSqX5ycdo
And try this one …
youtube.com/watch?v=eYvaO35NMIs
I’d like to be included ion this suit. I also have several other issues relating to BOA, like not remitting my payment and causing a default. Have all paperwork and receipts. Contact me ASAP!
Chris …
Unfortunately, you’ve come here with a misconception many of us did. There is no class action suit, particularly on this forum, simply to sign up for. You also left no contact information … not that anyone on this site is here to contact you. There are no heroic lawyers waiting at their computer screens to save your home.
This is merely a forum set up to DISCUSS a single case that’s been reported, and one of the things discussed in detail over many months is the fact that class action lawsuits are rarely an effective method to whip a wrong-doing corporation into line.
I would strongly encourage you to read through the last several pages of this forum. Simply click on “Previous Comments” at the top or bottom of this column.
There’s a lot to learn about the legal system. We’ve been conditioned to believe it works in ways that don’t exist. This foreclosure crisis is about “contract law,” not right and wrong, despite how strongly we want it to be so.
May 22, 2011
My forebearance period was over mid 2010 but the bank told me to keep paying and also they did nothing to approve me for any loan modification and manipulated my file by stating that I had documents that I missed so they they declined me and foreclosed my house and sold it to themselves, Bank of America.. I owed in arrears below $17,000 and they illegally foreclosed my home and wrote me a letter after they sold the house that I did not qualify for a loan modification due to lack of documentaion but I have proof that I submitted the HAMP application twice and completed everything they asked to send them all the paper works needed. They are abviously jerking me around and lying so they can foreclosed my home despite of the money I put into the house during the forebearance period which is not even supposed to take longer than 4 -6 months and I had paid in over $14,499.00 towards the arrears.
I want to join the class action lawsuit against Bank of America . Please contact me at >>>>> wizmindwing@gmail.com
thank you !
May 22, 2011
My forebearance period was over mid 2010 but the bank told me to keep paying and also they did nothing to approve me for any loan modification and manipulated my file by stating that I had documents that I missed so they they declined me and foreclosed my house and sold it to themselves, Bank of America.. I owed in arrears below $17,000 and they illegally foreclosed my home and wrote me a letter after they sold the house that I did not qualify for a loan modification due to lack of documentaion but I have proof that I submitted the HAMP application twice and completed everything they asked to send them all the paper works needed. They are abviously jerking me around and lying so they can foreclosed my home despite of the money I put into the house during the forebearance period which is not even supposed to take longer than 4 -6 months and I had paid in over $14,499.00 towards the arrears. MY house was sold at auction and bought by the same lender who foreclosed my home last May 17, 2011
I want to join the class action lawsuit against Bank of America . Please contact me at >>>>> wizmindwing@gmail.com
thank you !
OMG!!!! My life is written in all these comments….. I continue to write to the Office of the Comptroller of the Treasury, and to my Congressman Steny Hoyer…….I did a trial payment plan back in 2009 and once it was done was told I would get a PERMANENT modification…..and it took 9 months to actually get a returned call and a negotiator who never called but did her own ‘you should be thankful for what you got’ less than 2 day turnaround and a payment that was $300 more than what I was bringing in. I am still fighting to get that permanent modification. Bank of America does not care — their greed is unfathomable, their employees rude and obviously do not know what they are doing period!!! They are destroying lives – MANY lives and I cannot believe that after all my letters to Obama, Hoyer, O’Malley, Mikulski, the OCC and even writing to the Editor of the Washington Post, Channel 9 to have absolutely NO-ONE stop this barbaric treatment by Bank of America!!!
Lori …
Don’t lose heart … just keep up the pressure.
For encouragement, see the YouTube link above. The original article is here …
http://www.huffingtonpost.com/2011/05/16/foreclosure-fraud-audit-false-claims-act_n_862686.html
Modified loan in beginning of May 2009, payment increase, requested assistance November 2009,current at the time, resulted in verbal prequalification for HAMP TRIAL PERIOD PLAN, sent required docs, RMA, Tax Returns, Profit and Loss, 4506T, Hardhip Affidavit, Lease Agreements, voided rental receipts, etc. Made all trial period payments, called in March 2010 for update, was advised that account is in”review” and nothing else is needed and to continue making TRIAL PERIOD PAYMENTS, made an addition 2 trial period payments, called for status update. Advised in May 2010 that file has been removed, and account is now delinquent. Reason for removal due to expiration of documentation submitted. Spoke with supervisor, and was assured issue would be resolved and to send updated documentation and BAC will proceed with review, it is now May 23, 2011 two years later, and my loan has not been modified. I submitted 3 Qualified Written Requests, since the beginning of the year, as well as complete and updated modification packages, and the documentation has never been reviewed. I have yet to have received a true denial, or approval for assistance, due to BAC home loan’s negligence and allowing of the documentation to sit, unreviewed, until expiration. I have experienced several violations, under RESPA guidelines, as well as FDCPA guidelines, involving severe harrassment, in dealing with the company, I have recently received a Servicing Transfer notice of BAC Home Loans to Bank of America, so now we can add Racketeering to the list of fraudulent activity. I have complied with the terms under the original HAMP program signed into effect March 4, 2009, and have made all trial period payments, and have continued to do so… I would like to join a class action law suit or inquire about filing pro se’ , if necessary.
Email: MelvinLloyd@att.net
Location: Rialto, CA
i am interested in getting in on this suite. i had applied to bac to get a loan modification about 4 months ago–i was one month behind—i didn’t hear anything and i didn’t hear anything and then i heardfrom this woman that gave me exactly that day to get all the information i needed. so i called the companies and they faxed their info to them and i checked well it wasn’t what they wanted so i had to do it again and this time you couldn’t read them. so ihad to do it again. then one day i came home from work and i had a message on my phone to call her. so i called her and she wasn’t in. so in a few days i got another call–by the time i had gotten to the phone she had hung up–i called right back that minute and lord a mercy she was away from her desk. now after 4 to 5 letters a week threating me–they were going to quit receiving and accepting my payments i finally had had enough—i payed it up and
i got a letter saying i no longer qualified and that they were going to jack my house payment up 100$ a month—now if i can’t afford this
payment before how do they expect me to pay another 100$. i need some hlp—could you please have someone contact me at my e-mail
Jan …
Please see my note to Chris above. I can see that … like many of us … you don’t quite understand how all this works. Many of us have been through that. The list you will find in the previous pages of posts were gathered from several months of discussion on this forum. For your own sake, please read back over the forum to learn about your situation.
BofA News Update: Utah AG: Bank Of America Unit’s Foreclosures Illegal In Utah. online.wsj.com/article/BT-CO-20110525-712652.html. Again, keyword here is “illegal”. Illegal means it’s a crime. When are these snakes going to be held accountable and go to jail?
This article is now available here …
online.wsj.com/article/BT-CO-20110525-711334.html
Our company buys defaulted loans but we do something totally different. We do actual workouts with our customers. We want to keep them in their home. Guess what the customer talks to the same person every time . I know my customers, both financially and personally. I care what happens to them. I have some second mortgages so I have had to deal with BOA, on short sales, as well as all the other lenders. I can say without any doubt that BOA is the absolute worst bank to work a short sale. Chase is running a close second with Aurora following in third. The BOA represenatives , specialist, account officers, modification specialist, loss mitigation, all have a very limited amount of real estate experience. I can only guess they received training from the K-Tell book of Real Estate. Their negotiation skills on a scale of 1 to 10 is negative 10. I feel for anyone who is forced to deal with anyone from BOA. I refer to it as seeking the pain, but you have to give it to their Human Resources. They know where the rocks are located. The rocks that they find these people under.
“The K-Tell book of Real Estate” … You crack me up Barbara.
Bravo! … or technically “Brava” … and thank you.
Good job Barbara. I’ve tried and tried to do a workout of ANY kind with BOA and they refuse. I don’t live in the house and that is the excuse they use. They will not do anything and I’ve tried everything. They will not even accept payments. I’ve lost my job twice and had one low paying job in the last two years, things got really behind but I’ve managed to catch everything up but the house. They won’t work with me at all. I’ve tried local banks but they won’t do anything even with me now almost making what I was when I started because the house has ruined my credit. It would be wonderful if someone would buy it an work with me. The prospects are unlikely but I’d love to get that house out of the BOA quagmire. The sale date was for the 25th of this month but now they moved it to the 28th of next. Anything to keep my blood pressure up.
This man is fighting Bank of America on his own, no attorney. He is fighting Bank of America in Federal Court. He was told lie after lie and BofA’s attorneys admit why Bank of America wanted his house so bad: it’s an FHA loan and it is insured. They will get their cash guaranteed. This is also why Bank of America wanted my home so bad too. As many of you know, my husband and I are also fighting this monster in Federal Court on our own. If we can do it, so can you! youtube.com/watch?v=fNUZ98l7cC0&feature=share
PS……Get the Media involved!
FANTASTIC!
We should all take a lesson or two from this very brave man.
Wondering what happened to the Wikileaks exposé, I found this headline on the Wikileaks.org home page …
Bank of America using Private Intel Firms to Attack Wikileaks
Apparently, they’ve uncovered a high level security report that talks about how to fight Wikileaks. It makes interesting reading …
http://www.wikileaks.ch/IMG/pdf/WikiLeaks_Response_v6.pdf
Even more detail directly from the corporate intelligence community is here …
thetechherald.com/article.php/201106/6798/Data-intelligence-firms-proposed-a-systematic-attack-against-WikiLeaks
I am interested in participating in a class action lawsuit with others dealing with a mortgage loan modification “nightmare” with BOA. I have been involved with the modification process with BOA since 2009. They have produced a series of excuses for not following through with the modification. In spite of the fact that I have been extremely diligent in supplying them with every piece of information they have requested. I participated in the trail period they authorized while waiting on approval. The trail payments where made on time, however not applied appropriately to my account!!! At this point, I don’t have an accurate arrears total. Each week I call the bank and my arrears total has increased by more than $2000.00. When I ask a representative to provide an explanation there is none offered. The most shocking piece of this puzzle is that I am making my total monthly payment at this point and have been for months!!!! How does the arrears continue to increase by $2,000.00 a week when the bank is receiving a total monthly payment???????
I am now looking for other individuals in the North Carolina Area interested in participating in a class action lawsuit. I know I am not alone in this disaster!!!! I have already reached out to the State of North Carolina Commissioner of Banks and they in turn have written inquiry letters to BOA. However to my surprise the bank has ignored their inquiry to date. The NC Commissioner of Banks has also sent information to The Office of Comptroller of Currency, the federal regulator. Both of these agency’s have been responsive to my concerns. However, I don’t trust the bank!!!! I feel that at this point I need to be proactive and seek a good attorney. I am also willing to split the the attorney fees with anyone else damaged by this bogus “Modification” process. If you are interested please email me. I have been informed that there is power in numbers: needsupport@focuspro.com
Sincerely,
Ann
Good Luck Ann…I have not been able to find an attorney in NC to even talk to me about this mess. Seeing BOA is headquartered in Charlotte…in my opinion I believe they are concerned about personal ramifications. June 16th they are coming to change the locks on my home. BOA has ruined my credit and my health. I no longer enjoy my home. Threy have turned me down for everything with no reason why “I didn’t meet the qualifications”. My foreclosure was scheduled for Feb 2011 but was cancelled for unknown reasons and when I call every week they tell me it could be any day. This all suxs and I’m tired. Gonna become an expat in Panama.
Speaking of refusing; I’ve been trying to get a deed in leu for almost two years. BOA keeps saying I have a State Tax Lean. That lean was cleared long ago. I have the paperwork from the state to prove it. I have sent them the paperwork several times but when they look it up it’s ‘Not On File.’ I have asked them over and over and over where they are finding this lean and they REFUSE to tell me. They just say, ‘Their lawyers are very effecent.” I have checked with the County, State, and American Title and there is no lean on that house or on my SS number. They are Liars Liars and more Liars.
Tim,
Efficient? That makes me laugh out loud.
But, a word of caution, I too do not live in the home and also considered a deed-in-leiu. Make sure if it should become an option, that you check the tax implications. Discuss it with your CPA.
Edie,
I am just outside of CLT also. It is very hard to find an attorney that has the motivation to stand up to these giants. I would recommend you go to the hearing….don’t miss it. If the clerk allows the foreclosure to proceed, you can appeal it.
I have had hearings scheduled since nov. And each time it comes up it gets postponed. Do not go by what boa says because as you know they have no clue. They have told me numerous times there was no sale date set when I held court docs in hand stating the opposite. They have also told me there was a sale date when their attrny said there was not. Call the court house or the attorneys office. They can schedule the sale date at any time but you will have a hearing date prior to that. Review the nc foreclosure laws for fc process. And hold them to it.
Ann,
I think the “partial account” is one of their tools for taking homes. All of the number swapping begins when they target your home for foreclosure. They horde all of your money in the partitial acct until they can reallocate it and leave you in default. Ever think of setting up a trust and making your payments to the trust account instead of the black hole? Just a thought.. Considering it myself.
I wish you all the best. Keep us informed on what happens.
A
My suggestions are by no means meant to be legal advice. Offered only as, one trampled on US citizen to another.
Edie – They cannot foreclose without telling you the actual date – once they do forclose there are court proceedings they have to go through to get you out of the house – they cannot come change the locks until all of that happens………….
I have the same story as yours. I started modification process last April and through a series of lost documents by BAC they denied my application. I have 1/2 of a drawer of all my documented mailouts and faxes to BAC. In the end, I prepared an appeal and I was told it was untimely. Last week I received a notice in the mail stating that BAC failed to pay my homeowner’s insurance on time! Often I call to check the status and am told I have late payments on my account, I’ve never been late.
What else can go wrong?
I too would like to be included in this suit. I have applied twice; the first time while employed, the second this February after being layed off. In both cases, BofA has made errors at every step along the way. They contridict themselves daily. I receive invoices with different amounts due each month, though the Office of the President has given me a specific payment amount that includes taxes and insurance. They now tell me my file is so messed up that they cannot help me. In March they told my Foreclosure Prevention Counselor they were denying my 2nd application because my monthly income was too high. They had in fact erroneously added $1700 to my monthly income. We told them we wanted to appeal. They did not send me a letter of denial, and then told me we could not appeal because it was over 30 days since they had notified us of the denial. I’ve filed many complaints with various agencies. My counselor and I believe their actions are criminally negligent and that this is the banks strategy rather than just a bunch of random errors and inconsistencies. To date all BofA has done for me is increase my payments by $740 a month creating an additional hardship that will soon force me into immanent default. Maybe when I can no longer afford my payments so stop making them, then the bank will help me, or take my home (along with my retirement investment) and I will become dependent of social services to take care of me. Good job BofA. Please let me know what it takes to be added to this class action suit.
I wish Oregon would step up to the plate and help support the thousands of homeowners who will soon lose their homes because of BofA’s negligence. It seems there are no attorneys in this state confident enough to take on such a Big corporation. Is BofA too large to take on, even by the Government? I’m starting to think this is a conspiracy between the Goverment and the financial institutions they bailed out using our tax payer dollars, in an attempt to get rid of the middle class. If so, then our country is in real trouble, and none of us have a reasonable future to look forward to.
1-800-669-0102 is BAC hassle us phone number. I too have done EVERYTHING by their book. The modification refusal, the $4oo.00 a month raise in payments etc. God found a short sale buyer, I found a owner financed place to buy.
At 68 years old and a lifetime of memories, the move may kill me but…….WHY DON”T WE CALL 1-800-669-0102, NOW, THIS MORNING, THIS AFTERNOON, TONIGHT, WISH THEM WELL….. THANK THEM, BOA asks for my wife, tells me my mortgage terms have changed, I owe two months back payments.. NO DUH!!
Every time BOA calls I tell them my wife died April 2010, this place has been in escrow since March, with BOA approval thus no payments
I bet the terms have changed …….
Please get us more info on how we can get involved. I went thru hell with them to get a loan modification. I wasn’t even asking to get my rate lowered….just to get it fixed for 30 yrs. They kept requesting document after document & had me running all over town with their deadlines. For the last document, I was given a San Francisco fax number when they were located in N. Carolina. Obviously, they never received the fax. I brought the documents to my local branch & they faxed it to the 888 number. I was turned down because “we didn’t receive the proper documents on time”. I have proof that they were transmitted on 5/11. My deadline was 5/13 & they “claim” they didn’t receive it until 5/19. When I called to tell them I had proof of the transmittal & also that I was given a “bogus” fax number, it didn’t do any good. I was not able to appeal!!!
i to was told that everything was final with my modicifcation know boa is saying they did not recieve my check stubs i have proof that i fax them it has been a year and they have not give me a trail base payment
I am currently in the exact same mess described so many times here. They keep giving me the run around: when I submit the documents for review and modification there is a continuous “review” status reported until they decide you have to start the process over. Then if you don’t get the new app and supporting docs in on time, they have a reason to deny the request.
They also keep changing whether I do or don’t qualify for modification due to any change in my utility bills, car repairs paid, etc. They’ll say they ran my financials and I can’t afford to pay mortgage.
They’re full of crap and I will keep watching this and other forums anxiously awaiting a class action suit to ensue and I will gladly join in!
Dametra Mitchell
dametra27@yahoo.com
Does anybody have the contact info of an attorney who has filed a class action law suite against bank of america?
I saw a news report that this is the attroneys thathave filed the lawsuit
Callister and Associates 702-385-3343 in Nevada. Don’t know if this helps but they ma be able to help This new reportwas on KNTV.com a locat station here las vegas.
I have obtain this Attorney Gorden and Associates 5455 Wilshire Blvd Los Angeles,Ca 90036 # 323-419-4562
Well after 22 months of you know the whole run around trail payment and hundreds of calls multi faxes and FedEx etc, February BofA stop taking my payments and started applying all that I had paid them until it ran out in May, I received my “Notice of Default” So here we go I’ll be sure to touch base as we go forward I am contacting an Attorney to get some advice and or help, But would like to here from anyone who has or are going through this in state of California, It is a non Judicial state.
File Chapter 7 – make them prove they own the home and if they dont – the court will discharge the debt and you get to keep the house – it’s a huge loop hole – isn’t iron clad – but can work…………if nothing else – will stall a foreclosure. Good luck – we have been fighting them since 7/2010 – our house was foreclosed on 4/22 but we are still in it – fighting and making as much noise as we can – we will have our day in court before they kick us out officially!
HOW ABOUT S.C. ANYBODY OUT THERE TRYING TO GET MODIFIED WITH BANK 0F AMERICA
We are in Utah. My husbands business went under and so we were trying to live on my paycheck alone. Being self employed, he didn’t get unemployment either. It took him a while to find a job and then it was part time. Of course, by then BOA was working on foreclosure. I tried to work with BOA for a year, used up my savings and keep calling them to see if I qualified for every program out there. I never did because as I later found out, they weren’t looking at both loans, just the 1st. I called them when I was no longer able to keep up with the payments. Asked about getting re-financed again and having my 1st and 2nd consolidated into one payment. This would have lowered my payments and I could have stayed in my home of 23 years. I was told they couldn’t help me until I was late. Thought this was a bad idea but called them a couple of weeks later when I couldn’t make the payments and was then told now that I am late there is nothing they can do. My first mortgage was small so I didn’t even qualify for the making homes affordable process because they wouldn’t even look at the 2nd. I contacted other mortgage loan places and because of BOA my credit has been trashed and they couldn’t help me either. I would like to be a part of the class action suit against them if it is possible.
Been there done that with all of you! I was 9 months pregnant and we had signed a modification three months before. They kept sending me bills with my original account number, even though with the modification i had a new account number. They left the existing account open and it looked as though we had not made payments, when we had made all payments to the new account. i was told dont worry about it the system just has not updated yet it will be three weeks. Well two years later with my foreclosed home on my crdit report and bank of american in possesion of my home i still cannot find anyone willing to represent me.
I also live in utah, and I am so angry at BAC. I have read threw all the messages and all the horrible things that people have gone and are still going threw. I know where you are all comeing from. I tried from 2006 till present to get them to modifiey my loan and get a lower payment because I had gotten a divorce and was less that income. But to no avail nothing ever came of it. I have a 24 year old son that is mentally and physically disabled and need one on one care 24/7, my home has been fixed to somewhat accomidate him and his wheelchair. Anyway in the divorce process the second morgage was to be paid by my ex-husband. Unknowling he had not made a payment to them for 3 years and I have never been notified at any time about this until one day I came home from work and there on my front of my home for the whole world to see was a forclosure notice/intent to sell. Well im sure you know how that feels!!!!!! I called them on the phone and asked them what was going on and the said that i handnt made any payment in three years, i said bullshit i havent missed not one payment on my morgage. Then they proceed to tell me that the second wasnt being paid and therefore it didnt matter that i was makeing the other payments. It was in forcloseure. So this argument went on for weeks and weeks. I told them look i had no clue that the payments on the second werent being made. and that what did i have to do to fix the problem. Well if i would pay all the money due in one lump sum then they wouldnt forclose on me I aske how much well it was 11,784.90 i about died i made 8.00 an hr how in the hell was this going to work????? I explained to them my situation and about my son and that we would be living in my vehical and this is word for word what i was told. “That is not our problem maybe if you would have made your payment and no been such a lowlife you would still have your home”!!!!! So i went off like a bomb and tried to be calm but when i said what i had to say the gie on other end told me to F off and me and my son should go die and relive society of trash and retards!!!!!! YES THATS WHAT I WAS TOLD. Well I had to file a Emergency bankrupsy to save my house. Now i owe a trustee 18,000/398.00 per month they dropped the 2nd morgage so now i only owe the 72,000 on the first but they will not drop my payment down so i am still paying 600.00 a month on that amount which should only be 300 or 400 a month. They will not work with me in any way shape or form. I have heard every excuse in the book why they cant or wont. so now in order to keep my house i have to pay 1000.00 dollars a month. JUST BECAUSE OF BAC THEY NEED TO BE SUED AND I WANT IN ON IT.
I was thinking of missing a payment to force them to listen but after reading all the nightmares everyone is going through out there, I don’t know what to do now. Why is Obama adminsitration and the people who “police” TARP not doing anything about this mess? This is ridiculous! Really sad for a country that we are all so proud of and willing to die for.
They purchased our mortgage from CountryWide. They gave me a modification and asked me to pay 1/2 of the mortgage for 6 months and then they would put the rest on the back of the loan because I had lost my job. We set it up so the amount was automatically taken from the bank account for 6 months and we were never late. They contacted me and stated that they miscalculated and we made too much money for them to proceed and that I was 6 months late and needed 25K or they were going to foreclose on my house. We had to file bankruptcy and now our credit is trashed. We are located in the state of NJ We would like to be part of the lawsuit. Please contact us
My wife and I have been involved in a mortgage modification for the past six months. We hired an idependent firm that specializes in mortgage modification. We quickly learned through the submittal process that B of A has NO intention of helping people stay in their homes; we have submitted the same documentation to at least six different underwriters all of whom ask for a new set of documents and after that game was done they countered with; “We can’t advance your file until we recieve your mortgage payment.” The firm we hired said this has never happened and they think because our home still holds value, it would be easier for them to foreclose and get rid of the debt.
Ann, Edie, Tim, Cynthia, Saundra, Quinn, Rina, Fernard & Elinda, Dametra, TG, CM, Mallen, Joe, Lynne, Andrea, Kori, Junge, Judy & John and Mark …
I’m a homeowner just like yourselves and have been on this forum/blog for about a year. There are lots of things that have been discussed and discovered about what’s going on here.
The first thing folks learn over time is the fact that some things are not what they seem AND the system doesn’t necessarily work they way we think … but one of the most critical “mental adjustments” most people (including me) need to make is understanding exactly what a mortgage company IS.
There are several other factors to take into account and learn, but let’s cover that one first …
A mortgage company is NOT in business to provide you with a home or “service” your needs. They are in business to MAKE MONEY … period. They couldn’t care less whether you’re living in a shack or in the street. They’re simply in business for profit. They answer to their executives, boards and stockholders … PERIOD. Regulatory agencies and laws are a nuisance to them and only conform when forced to do so. Their objective is to take a maximum amount of money from the most people as quickly as possible.
That’s how this situation evolved.
This is also about “contract law” or Statutory Law, and the contract you signed when you got your mortgage. Most people have NO CLUE what contract law IS, much less how the law or the courts operate. On the other hand, mortgage companies are STACKED to overflowing with lawyers, and the entire system is run on their advice. You know nothing, and they know every nook and cranny of the law.
It’s easy to assume that the banks and mortgage companies went to their lawyers and asked how they can take peoples’ homes without being nailed by the courts. One COMMON bit of advice from lawyers is that you can’t look malicious to a court … but you CAN look stupid (incompetent). It’s therefore easy to assume that the seemingly idiotic way the banks are doing business is INTENTIONAL, not accidental. They spend hundreds of millions training their staffs. They do NOT train them to do things “wrong” according to their objective … which is profit.
One of the next things to realize is the fact that class action lawsuits are NOT necessarily bad for the banks. This was pointed out by a very brave attorney on this forum/blog several months ago. He’s “brave” since the legal system itself would prefer you didn’t know things like that.
The fact is corporations LOVE class action lawsuits. They take YEARS to settle. They only have to send one small legal team to fight perhaps thousands of [in this case] homeowners. And every homeowner has to “conform” to the class … meaning the details of their cases are lost … and cases are won and lost ON THE DETAILS.
Thinking that a class action lawsuit will somehow be a slap in the face to the banks is simply WRONG. It’s cheap and easy for the banks to defend themselves, and, in fact, go on the attack shooting ducks in a barrel.
So what’s the answer? … individual “filings,” which are NOT lawsuits. A filing causes the banks to answer homeowners one-to-one with perhaps thousands of lawyers, not one small team, and “filings” are requests to a court asking that court to either stop the bank from doing something they shouldn’t or to force them to do something they should be doing. It’s NOT a lawsuit. Sending thousands of lawyers to defend themselves is EXPENSIVE, and this is all about the money.
A lawsuit asks the court to examine a contract (this is all about contract law) and decide who did what wrong, and who owes who what … and THAT’S ALL. Any “punishment” is based on comparing the behavior and performance of either party … but a lawsuit is NOT generally intended to “compel” a party to DO something … filings ARE.
Each of you should consider FILING against the bank to COMPEL them to do something or stop them from doing something.
Also … filing with an attorney or law firm is fine, particularly if you know nothing about the law, but learning about the law yourself and filing YOURSELF can have some advantages, IF you’re willing to learn thoroughly and follow the court’s procedures. It’s not just about saving the lawyer’s fees. It’s also about holding the system itself responsible. You can, personally, file against the court if it fails to do something it’s obligated to do … something a lawyer whose career depends on the court would NEVER do. Filing yourself is called “pro se” and you are perfectly within your rights to do so. A very brave couple in Florida (as well as others) have filed, and their charges include violations of RICO statutes (racketeering).
Another aspect that people come to this forum/blog thinking is “I-just-want-my-modification-and-to-get-on-with-my-life” and feel a class action lawsuit will do that … IT WON’T … pure and simple. You have to use various methods to FORCE the banks to do what you expect. After all, they want fast profit, and renegotiating your mortgage contract to get LESS money over time is NOT what they want. They want to foreclose, repossess and profit … preferably as quickly as possible. They couldn’t care less how hard you worked for your home or whether you live in a cardboard box.
They are also willing to wait and wear you down. It is COMMON practice for [lawyers] to use time to make you exasperated, frustrated and angry to the point where you give up. They also use shame … the shame people feel with financial difficulties … anything to make you give up and move out. Understand these things as “tactics” and do NOT fall into their traps. Learn to fight and learn the system.
Some of the things you can do to pressure the banks and move your case along are found here …
piggybankblog.com/2009/11/08/piggybankblog-writer-don-sweet/
… which includes an 18 point list of suggestions to help your case along. There’s actually 20 and the two new points can be found on previous pages in this blog (the PiggyBankBlog site hasn’t been updated yet).
This list was compiled from discussions on this forum over the last year of my participation and is the result of many peoples’ contributions and research or experience.
And if you’re curious about how and why this all came about, there’s a metaphorical story at …
piggybankblog.com/2008/11/08/don-sweets-latest-article/
There’s a LOT to learn about what you’ve gotten yourself into. Many, many things are NOT what they seem. What we’ve been taught about the legal system, political system, regulatory agencies and what mortgages are is not necessarily what they really are.
Basically, you have to learn how to FIGHT. Unfortunately, this is a WAR … and for the very roof over your head. They want money … PERIOD … and are willing to go to great lengths to get it … including bend, twist and break the laws and system they know so well.
Learn that system, and learn how to become a warrior for your home.
Hope this helps.
I was just informed by my ex husband whom still resides in the house , that someone purchasesd the home 2 days ago. He was in the process of a loan modificatin with Bank Of America.
I have no idea what to do now. I certainly do not need a forclosure on my credit.
An interesting page to consider …
http://www.nclr.org/index.php/issues_and_programs/community_and_family_wealth/housing/put_an_end_to_the_housing_crisis/
I would like to be added to the class action lawsuit against BOA. I have a loan modification agreement that they have not honored, and I am now facing foreclosure.
Aleta …
Please see my note above.
The most critical thing for you to understand is the fact that there’s no lawsuit simply to be added to, particularly on this web site. That’s in addition to the fact that “lawsuits” are no guarantee you’ll get what you want.
For your own sake, please learn the reality of your situation. What we are led to believe about how things work, it’s necessarily the truth of the matter.
My husband has been working for 6 months w/BOA on a “loan modification” because we were facing some financial hardship and when he contacted BOA, they said they could do a loan modicatn. He has sent ALL the info, etc, etc. and now he has rec’d a letter that they are starting foreclosure. Yesterday, he rec’d a letter from the State of MD stating that they are beginning foreclosure proceedings! Is there anyone in MD going through this? Should we file ourselves, as suggested by Don in PA? We are worried about losing the home.
Deborah
Deborah …
Please see the 18 point list on PiggyBankBlog.com. Those are actions you can take to help more your case along. And for your own sake, I’d suggest you read back over this forum both for others’ suggestions and point 19 and 20. Simply click on “Previous Comments” at the top and bottom of this column.
Essentially, you have to show the bank that you mean business and are willing to fight. You’re experiencing their “steam roller,” simply meaning if you don’t start throwing up legal, political and regulatory agency roadblocks, they’ll roll you right out of your home.
Banks’ employees sit in their cubicles busily clamoring through their day with only one objective … to show their bosses profit. If they need to take your home to do it, they will.
Whether you file yourself is up to you … AND whether you can actually find an attorney to work with. Many (if not most) are running away from these cases at lightning speed … many knowing nothing about real estate law, little about contract law, and not willing to take on the banks.
You SHOULD worry about losing your home. That’s where their profit is, and that’s why they’re in business … NOT to reduce your payments and collect LESS from you. Hundreds of thousands of people and families are out in the street from not knowing how to fight. “Not knowing” is your worst enemy … next to the banks … who know how to play the system like Mozart.
If you don’t mind reading complicated technical stuff, this is a real eye-opener …
http://www.globalresearch.ca/index.php?context=va&aid=25080
The June 14th Flag Day Rebellion against economic tyranny is growing much stronger and more rapidly than anticipated. This Flag Day, Tuesday June 14th, there will be a non-violent movement with this list of demands:
* End the campaign finance and lobbying racket
* Break up the Fed & Too Big to Fail banks
* Enforce RICO laws against organized criminal class
* Order Ben Bernanke to step down
There will be a list of locations of where the protests will take place and additional info at this link:
http://ampedstatus.org/june-14th-economic-rebellion-update-%E2%80%93-this-is-what-decentralized-resistance-looks-like/
Let your voice be heard and stop the abuse!!
please include me in this lawsuit as i did all i could within my reach for 2 yrs of nightmare, always going aruond in circles. And Finaly they forclosed my home in Jan. 19,2011. PLEASE HELP what do i need to do to be included in this law suit of mortgage modification. It just doesnt make any sense that they will take the hom away from their origanl owners wont modifiy to a comfortable payment, but will sell it for less to the new owner n much lower payments. WHERE IS THE MONEY OBAMA GAVE BANK OF AMERICA GOING TO????
Sandra …
Sadly, you’ve come here with some misunderstandings many of us had about how this all works, including me. The money given to the banks does NOT go to us. Under HAMP, the government pays the BANKS one thousand dollars just to TALK to us about a loan modification.
Yes, you read that correctly. All the banks are required to do to get their thousand dollars is to SPEAK with us about a modification, not actually give us one. Not one single penny is ever applied to a single mortgage … but paid to the banks directly for their own use (and profit).
Other major misconceptions are that A) the lawsuit reported on this forum is something everyone can participate in and B) that a class action lawsuit will somehow whip the bank into shape and see to our needs.
Neither is true.
This site only REPORTS lawsuits, and does not coordinate them in any way AND the one reported in this article is ONLY for Washington State residents and ONLY for people who “qualify” for the class.
Most importantly, as a very brave lawyer said months ago here on the forum, class action lawsuits are NOT bad for the banks. Herding perhaps THOUSANDS of homeowners into one suit makes it CHEAP AND EASY for the banks to defend themselves … like shooting ducks in a barrel.
Please see my notes and links above to learn more about how this all really works. As long as we stay uneducated about the reality of our situation, the easier it will be for the banks to take our homes.
I can see from your post that you just want your modification and to get on with your life … thinking a class action lawsuit will do that for you … IT WON’T … and that’s the sad fact of the matter. Even if there was one you could just be added to … which there isn’t … it might take YEARS to settle, squash the details of your individual case (which is what lawsuits are won and lost on), and in the end likely only get you a few dollars IF the suit even won at all … which would NOT do ANYTHING to compel the bank to give you your modification.
For your own sake, please learn how this all really works, and learn how to fight for your home.
I am not going to repeat all of the details of my story re: the home modification program, but it reads like all the others. We applied over a year ago. We were told many times our file was, “complete,” and we would have a decision soon, then the documents were lost repeatedly. It has been a nightmare! How can we get them out of business? Please send me any info about a lawsuit. I live in MA, if that matters. Thanks, Cheryl
Cheryl …
Many of us here on the forum feel the way you do. We would love to see these banks shut down … period. They’ve literally become criminal, and worse than that, actually feel they’re doing the right thing for their stockholders … turning a profit.
But … particularly in the case of Bank of America … you’re talking about the 5th largest corporation in the United States and THE largest bank. That’s a TREMENDOUS amount of power … financial, political and real, physical power … the ability to manipulate. Literally millions of people put billions of dollars into these banks with NO IDEA that they have turned the corner from a private commercial “service” to criminal enterprises. Most people think everything is just fine and we homeowners are just being selfish and hysterical.
If you want these banks closed down, that’s what you’re up against … millions of people who think there’s no problem.
One great thing about the banks’ greed is the fact that they’ve gone too far and their criminal activities are so widespread and so burned into the permanent record that there’s no way for them to whitewash what they’ve done.
That’s the battle we face as victims … to make other people aware of the record … the abuses, the false documents, the illegal confiscations of property.
At the moment, most people are walking around saying “What’s the problem?” Even many of the State Attorneys General are saying “Well, it’s not that bad. Let’s just slap their wrist.”
Spreading the word and uncovering the proof to people who DON’T have mortgage problems is the biggest part of our battle to call these banks into account.
Public awareness … telling your family, friends, neighbors, co-workers, politicians, regulatory agencies and anyone else exactly what’s going on here … is CRITICAL to whether these financial institutions are held accountable …
… and by “accountable” I’m suggesting handcuffs and JAIL.
That’s a tough row to hoe … not impossible … just extremely necessary to properly educate ourselves and others to the facts of the matter.
I agree. My husband and I have been under financial hardship,experience predatory lending and discrimination with age ,race and disability. Reported it and nothing has been done with BOA other than harrassment,lie about receiving paperwork,deny you for Hamp and ask you if you want to Appeal twice this has happen and they never added my escrow even when requested before closing. ll we get is the runarounds lower our high credit scores ,promise to do erase negative credit issues they are causing to all of the struggling homewoners and just taking all the money from the government in using excuses to them too.truggling Homeowners are not protected from the 2008 Settlement of BOA and Countrywide. We Need Help .
I applied for a modification with bank of america, I went into Boston
and applied. the associate there told me Iqualify, after one year I still didn’t hear anything, I called and called they gave me different excuses. now my credit is ruined because they said months were not paid, then they sent us a letter saying the months were paid but still no modification!! they ruined our credit and found some of their mistakes, it’s to late now, I think something should be done with this bank! they are still missing months that were paid. they messed alot of people up and their credit!
I think we some how need to get people to stop using BOA …The Bank needs deposits to stay in business…If we could start targeting banks and pulling money out of them maybe they will start to listen to us…it isn’t only about modifications it is also about the fees they charge..I have been tring since Jan 2010 to get modified ..I wasn’t benind before I was put on trial payments after 4 months they told be my lender doesn’t do modifications ..and Imm wanted me to catch up the payments…I said I thought you were my lender they said no just severicing the loan???? now I am benind as I pointed out to them I was hanging on by a shoe string prior to starting the trial payments…they called me a few months later and now have started me once again on the modification paperwork I am still am wondering why…I said I thought my lender didn’t do modifications they said no not true they find that most lenders do them…I told them that the banks is awful and really doesn’t know what they are doing… they said we realize that we had problems in the past but we are tring to rectify it…I said nice but don’t hold it against me if I don’t believe you…Its all over the internet about how bad your bank really is….I am supposed to be back in review as of June 3rd..waiting to see what story they come up with this time on why I am not approved….
After years of fighting with people to salvage our house. We decided to file Chapter 7 bankrupt. With all the information given to us from Bank of America and all the phone call we hired an attorney to see if we got approved for the chapter 7 Bankruptcy. My wife and I gathered all the paper work and submitted it to the attorney approving us for that chapter 7 . So now my credit s shot for seven years. I hope I’ve made the right decision. Good luck everyone.
I wrote an email to Senator John McCain and pasted this website address in the email. I asked him to read the comments and help the people. Congress gave the banks the TARP money and they need to be held accountable for their actions. The people of this nation are being hurt and destroyed by these banking practices.
the feds are actually doing “something”
Arizona may be on the tip of the spear. . .
http://www.google.com/url?sa=t&source=web&cd=2&ved=0CC8QFjAB&url=http%3A%2F%2Fstopforeclosurefraud.com%2F2011%2F06%2F13%2Fbank-of-america-significantly-hindered-federal-investigation-u-s-official-says%2F&ei=4dv4TfCzO-TPiAKh3PD9DA&usg=AFQjCNEab1feZXpkL6cMV0xAG861JShLvQ
Let me retype a portion of the Arizona’s Attorney General’s Superior Court complaint …
The State alleges that Bank of America’s loss mitigation and foreclosure practices (“loss mitigation”) have resulted in deceptive conduct, including a pattern of misrepresentations to its Borrowers, in violation of the Arizona Fraud Act [citation deleted]. The liability the State alleges does not result from the conduct of individual Bank of America employees who are obligated to follow the Bank’s policies and procedures, but who have no authority to establish policies, to ensure they are properly implemented, or to allocate the resources to properly execute them. To the contrary, the State alleges and institutional failure caused by the actions or inaction of the institution itself, as carried out by its top-level decision makers – officers, directors, management level employees who were responsible for but failed to establish and implement appropriate loss mitigation policies and procedures, to allocate sufficient resources and oversight to loss mitigation, to provide appropriate hiring, training, supervision, and compensation of employees, and to make changes and corrections to policies and provisions when warranted.
… Defendants failed at an institutional level to ensure that they had the capacity and framework for providing eligible Arizona consumers with the mandated modifications.
… Defendants have failed to meet their Consent Judgement commitment to make decisions on Borrowers’ load modification requests …
… Defendants made misrepresentations to Borrowers about its loss mitigation and foreclosure activities.
… The deceptive nature of these representations is evidenced by Bank of America’s self-described “aged inventory” of trial modifications …
… Defendants’ management caused Defendants to violate the law …
This complaint is a filing asking the court to allow the State of Arizona to interview FORMER Bank of America employees to find out what they did or didn’t do under the direction of the bank’s management.
So … what does it all mean?
First of all, let’s clarify “loss mitigation” which few people really understand. “Loss mitigation” is what you’ve been trying to do … “mitigate” or “make less severe” any loss there might be from you defaulting on your mortgage loan … like moving out and not paying … which is NOT what many of us have threatened. We’ve merely sought “relief” and have had every intention to pay to stay in our homes.
A mortgage modification is asking the bank to collect LESS money from you … something they HATE … so they will do ANYTHING to resist it INCLUDING turning the situation into PROFIT if they can swing it … and they’ve been swinging it … outside legal, ethical and moral means … to turn a potential loss (“loss mitigation”) into profit.
This Arizona Attorney General complaint wants to interview former BofA employees to find our what they were put through to do all these things to delay modifications and turn that profit for the bank … what management instructed them to do … AND to allow them to interview these people WITHOUT BofA lawyers present and pressure from BofA.
THIS is the kind of “suit” we need to see nationwide … which is not a suit at all, but a filing with the court compelling the bank to DO certain things.
This is why my list, cited above on this page, developed from many conversation here on the forum, is CRITICAL for people to read and understand.
Please pardon my caps, but I’m hoping [new] people who scan this page will catch this …
THERE IS NO CLASS ACTION LAWSUIT TO SIMPLY SIGN UP FOR …
… AND …
A CLASS ACTION LAWSUIT WILL NOT SOLVE YOUR PROBLEMS AND GIVE YOU YOUR MODIFICATION.
You must call your law enforcement agencies, regulatory agencies, politicians, courts and even the media INTO ACTION to fight this thing. Class actions are cheap and easy for the banks to fight, and take years, if not decades to settle.
RIGHT NOW the banks are talking to these entities telling them “it’s not that bad” and “this will all blow over” and “it’s just business” and many of them are LISTENING.
A class action lawsuit is not the answer, but THE RULE OF LAW IS, as well as the agencies and individuals responsible for enforcing that law. We, as homeowners, must call our institutions into the fight, as Arizona’s Attorney General has responded to his State’s residents … some of them NO LONGER homeowners because of these banks.
Don’t “sue” … FILE … and file complaint after complaint with your Federal and State officials, as well as the courts.
Then take your family on a nice Summer picnic or take a nap. Don’t let all this get to you, but never, ever give up … and … give them the Hell they’ve earned, but in a way that will be effective and immediate. Maybe we WILL see the handcuffs that are so deserving if more State and Federal officials and institutions realize who they actually work for … living, breathing, home-owning people … not fictitious corporations and the immoral, unethical and illegal demands of their management, boards and stockholders.
Question: Has anyone ever heard of a step rate loan?
My mom received a letter from BOA that said her ARM loan was being converted to a step rate loan. She is currently into her third month of the trial period payment in which her payments went up $200.00+ because of an escrow account due to her not paying the last half of last years property taxes.
According to the letter her new payment will drop down to $434.06 a month in September. We aren’t quite sure what to make of this and with this new step rate loan, how much will increases be and does the payment also include the escrow.
I should probably contact BOA, but I haven’t the patience anymore. Any answers about a step rate loan would be appreciated.
Tony …
It seems a step rate loan is how they’re responding to most of the modification requests. You pay a lower rate (usually for the first 5 years) and the rate increases over time, raising the mortgage back up again.
They want their money. It’s really that simple. It’s throwing you a bone, then charging you more as time goes on.
I’d also be very careful what they add to the principal … back end charges. Often they won’t define what those charges were or where they come from. You’re entitled to a full accounting of every penny … but they have been declining to do that … another violation. They’re essentially saying “If you want to know, sue us” much like they’ve been denying RESPA/TILA requests … another violation.
It’s up to you how hard you want to push, but these examples ARE violations. After all these months on this forum, you should know they want every nickel they can squeeze without accounting for it …
… to anyone.
BoA jerking me around led me to believe that I will have my loan modified and then abrubtly sold my property and left me hanging. I would like to join the class action law suit again BoA. Catimdao@yahoo.com.
Many stories here we can relate to. Our nightmare began when we resieved a phone call from a rep. stating we were elegible for gov’t making homes affordable program. We knew we did not qualify because we did not have a fannie or freddie mortgage. We were reassured by boa that they had their own program. We tried it, met all mortgage payments on time , third month we recieved a foreclosure notice.My wife fought for 9 months, to get fees , late charges and all other related fees dropped. With the help of our Senator, Congressman & compcontroller at the Treasurery, they agreed to drop all fees. Two months later all fees returned, we tried to fight, but we had been exhausted from the previous fight. We had a beautiful home. We finally just walked away, only to have boa agree to the HAFA resale program. The house sold. We are heatbroken . The depression & humiliation associated with all that beat bus up badly. In our opnion, we were lied to & cheated out of our home. They should all burn in hell. I’ve worked for over 40 years to provide for my family, I feel the gov’t & the banking industry took advantagee unfairly. THANK YOU
I too would like to be part of this class action suit. Bank of America has turned me down for the 3rd time on my loan modification after telling me repetedly that I qualified.. and now I am facing forecloseure. I have lived in this house over 20 yrs and am nearing retirement age. Trying everything I know to hold on to my home. They told me not to make any payments during the modification process and now my credit report looks bad. I am running out of options .
I attempted to get Bank of america to modify my load for three years and finally gave up when they flat out lied to me on several ocassions. It is beyond belief that B of A wouldn’t work with homeowners and this was my prevailing thought until I was told that the banks really would rather homes to go into foreclosure since they have mortgage insurance that pays them if a home is foreclosed upon. They they turn around and sell the distressed property banking whatever money they can get and sueing the former homeowners for the difference. What we need is severe governmental regulation of the banking industry! i urge everyone to CC their legislative officials on all correspondence with their banks regarding their mortgage. If enough people did this then Washington would wake up and get the message.
Didn’t obama promise to help when he was elected to office?
Claude …
Yes … and he did … in a manner of speaking …
… IF you consider paying banks a thousand dollars for each homeowner they [only] TALK to about a mortgage modification.
You read that right … all they have to do is talk to us and they get a grand.
There is NO expectation of actually giving a modification … only offering to negotiate one.
A bit retarded … don’t you think?
That’s what this has come to … “political expedience” and profit … not real solutions.
Of course I’m in the same situation as everyone else. Right now I’m in the middle of foreclosure on my home from BOA. They are a complete joke. All they do is lie after lie and steal hard working peoples money. Because of BOA I’m losing my home due to miscommunication on there part. That’s what the rep told me after 2 modifications and accepted for the new program. The rep told me yes ma’am because of our error you are now losing your house. They even had a lawyer trying to sue me for vacating my home which I still live in. Really people ! This was my first home that I bought and now losing it because of some crooks! Thanks Bank Of America