Bank of America review: fraud in loan modification 48

Well to a point I agree with you. There are certainly those that needed to balance their check book. However, the fact is that Countrywide and Bank of America played a greedy roll in causing this whole crisis, by giving people at Burger King loans for million homes, that they knew they would default on. Why? Basically because they knew they could sell it to Wall Street and leave the American people holding the bag. The result of what they did was instant foreclosures flooding the market, driving down the values of houses pretty much over night. It was a game of musical chairs, but these fat piggys were sitting down before the music stopped playing. They put our country into the worst economic crisis since the depression. Only Bin Laden could appreciate the damage that they did to the American economy with their greed. Not to mention making us weaker and more vulnerable as a nation. Lets not forget that not one nuclear bomb was dropped in Russia, but it was an economic war that brought them down. With that being said, these little piggy banks threaten national security with their greed, while they hold our President potentially hostage. If the President does not do what they say, they have the power to cause our country economic crisis with one stroke of the pen. This is why they are called “Too Big To Fail.”

This crisis has nothing to do with balancing check books. Small companies that had been in business for 50 years were lost over night when people stopped spending money. You see, when people watched the equity disappear their homes, they stopped spending money. When they stopped spending money, the companies had to lay people off. When they people were out of work...they also had no money. The reason I know, is because I own several of these companies that have been in business for around 25 years. I balanced my check book just fine and actually made the income to qualify for my house. At any rate, what they did has a slow trickle down effect, that will effect even you in a few years. No companies...no jobs...no money...no America.

Here is the thing that I do not understand. This is a room for people who have been a victim of Bank of America fraud. Now it would stand to reason why I am here, but why would be here? How does a person who does not have any problems with the bank, end up here?

At any rate, history will show they tend to stutter without their heads. That is smart at all :)

I am John Wright and I AM FIGHTING BACK!

John Wright
piggybankblog.com

Actually they made interest on it before the gave it back. I will tell you what, if they give me 45 Billion of Tax Payer money, I will gladly give it back in a few months too :)

Maybe you should stop putting things in that pot pipe and check your facts first :)

I am John Wright and I AM FIGHTING BACK!

John Wright
piggybankblog.com

Seems to be a pattern here. I too sent them ALL the docs they requested 5X! Each time I double & triple checked everything. If there was a question, i.e. 2 mo bank statements, I sent 4. 4 check stubs, I sent 8 & so on. They can't keep anything straight, this was evident by the 2-4 duplicate Fed-exs sent each time. The final said I had 14 days to get them the docs or I would be disqualified. I called to see what exactly I was missing, they could not tell me & stated I had to send them everything again. 2 months later & a worn out printer, I'd heard nothing & tried to make my normal online payment. This was blocked because of the process & I had to pay by phone (no small feat getting through). They told me on the phone to continue my trial payments & my review was complete. 3 more months & I get a letter saying I did not qualify because I didn't send them all the documents required! BS! I feel they purposely put me off till the deadline so they didn't have to qualify me. Now I'm over $2k behind. I have never been behind ever ever on any payments before this fiasco!
In short, it's not in their interest to modify a loan & these steps are a loophole they are taking full advantage of.

Let the BIG BANKS SINK!
No more bailoiuts!

your and my condition pretty much same. i made 11 trail pament with boa . they send me latter i was approved for permanent modification. next month they sold my loan to lbps. now i am calling every day lbps . but i never reach my loan office.

your and my condition exactly same

We are in a similar position. BAC Home loans was in the process of finalizing our modification and sent an agreement of a new lower payment on a trial basis for three months. After faithfully paying the new modification amount, they said they needed additional documents and that we may qualify for a "better" deal. We recieved a call from someone at BAC that we only needed two more documents to be approved, and two weeks later they sold our loan to IBM LBPS. Now IBM is giving us the run around and claims that they did not get any infomation from BAC about the fact that we were paying the new amount for six months. They have sent default letters and refered us to a local housing department ("i.e. legal aid) to see if we could make a deal with them. Is it legal for them to keep re-selling our loan? This is the fourth lender. First it was Greenpoint, then Country Wide, The BAC, now IBM.
What can we do now?

I am suing B Of A...anybody with me contact me at fprents@msn.com...I am speaking with a high profile attorney today! They are saying that a modification I had done by Countrywide March of 2009 (mind I got a call from the home retention depart. saying my modification was approved and that I will be recieving doc fedex which I did, I recieved the remod docs had them noterized and returned in March by the deadline and started making my first revised payment on May 1st as stipulated in the loan agreement and I've been paying this . Last week, after making payment for now almost 6 monthsI got a statement from now B of A (who took over countrywide) saying we are behind on the payment. I called only to be told by a Rep that out modification was cancelled in August due to some doc they requested having not been turned in...That is ludicrous! We never heard of any missing doc and turned in everything, additional that were requested The rep said they never recieved copies of the docs which we we were instructed to send to fedex to pennsylvania!
So we fax them to her. Then she say, the remodification had been denied in August...And that we were issue a "preliminary modification". That is BS! I am not taking this any longer...If you have been GIVEN the run around and your home is in foreclosure or teetering, on in danger of beeing taken please e-mail me!

I have been working on a loan modification under the Obama Home affordability program through Bank of America ( formerly Countrywide Home Loans) for the past 5 months. I was to have sent my mortgage payment via Western Union such that it would be there BEFORE the first of the month. This was supposed to have been resolved August 1. I have made multiple phone calls and not one phone call has been returned. I received a letter dated August 31 on friday Sept. 4 indicating that they needed over 100 pages of documentations ( 2 years of tax statements, 3 months of bank statements, and pay stubs). I was told in the letter to call the person, Gina Williams directly. In the letter it stated they must have the documents by Sept. 7 which was Labor day, which by the way they were closed and they are closed on weekends. I spent 5 hours gathering everything and had to label each and every page with the loan number. I sent it off next day UPS delivery with a guaranteed delivery of Sept. 8. I also called Bank of America, told them that I was not getting return calls and made them write an internal e-mail requesting that Gina Williams call me immediately, that they UPS package was being sent that day and gave the tracking number. I continued to call and leave messages for 2 weeks.
Yesterday, exactly two weeks after I sent the package I called to complain that I am not getting return messages from Gina Williams. I was told that my loan modification was denied August 11 and that the package did not arrive until August 15 and that there was nothing that could be done. I am furious ! Also they informed me that even though I was told to send my payments via Western Union such that they would arrive BEFORE the FIRST of the month they applied the payment towards that month ie. sent the payment August 31 and they applied it to August not Sept as they were supposed to.

Here it is the weekend and I am left hanging until monday waiting for Gina Williams supervisor to call me back and to continue working on getting they to re-open my file for loan modification. I am about ready to spit nails...

Anyone being successful with getting a loan modification through Bank of America ?