Bank of America at it Again – Foreclosed on Over 40 Cents?

By WINK News
Story Created: Feb 11, 2010 at 4:33 PM EST
Story Updated: Feb 11, 2010 at 6:33 PM EST

LEE COUNTY, Fla- In the middle of the multi-billion dollar foreclosure crisis, there’s a southwest Florida family that could lose their house over a 40 cent mistake.

According to the homeowner, that mistake was his lender’s fault.

“I’m fearful to send them more money,” said the homeowner, who is also afraid of losing his job for talking about the situation publicly.

“Mark” said he modified his mortgage to match his lower income after a layoff and thought everything would be alright, until his lender took an automatic payment incorrectly.

“They posted it 40 cents short … three weeks later we get a letter saying you’ve missed your payment so you’re out,” said “Mark”.

For three weeks, “Mark” called his lender time and time again trying to resolve the problem.

“They said, ‘no problem we assure you everything will get fixed’. Just make the 40 cent payment to make it even.”

But the problem did not get fixed and “Mark” had to seek the help of foreclosure attorney Carmen Dellutri.

“The extraordinary thing about this case is that the bank made a mistake. They acknowledged it and yet they wouldn’t fix the problem,” said Dellutri, who said he’s never heard of someone almost losing a house over less than the cost of a soda.

Dellutri said his phones are ringing off the hook with homeowners just like “Mark” who think they’ve resolved their mortgage issues.

“This gentleman contacted me with a situation that I hear about 5 times a week. The banks and mortgage companies will not work with individuals and they renig on the deal,” said Dellutri.

Like many homeowners, “Mark” was forced to default on his mortgage payments to get his lender to even start the modification discussion.

For two years, WINK News has been uncovering stories of homeowners that say the same thing.

Last March, we met Janice Bass who said she was in financial trouble but doing everything she could to keep up with her payments. The Fort Myers resident said she couldn’t get her lender to work out a modification with her until she stopped paying altogether. By July, she had stopped paying and was working out a modification but when we checked back in October she still hadn’t heard anything from her lender.

The Making Homes Affordable Act was supposed to save seven to nine million homes, as of February 1, 2010 it’s saved about 850-thousand.

“We had a breakthrough oppurtunity in December and January,” said Alvina McHale, the communications and marketing director for the United States Treasury Department.

McHale said the Treasury knows there are a lot of problems with the act, so they are making changes.

They are going town to town to get troubled borrowers face to face with their mortgage lenders, streamlining paperwork to get people from temporary to permanent lenders and creating new rules for lenders.

Those new rules require lenders to acknowelege applications made through the treasury department within ten days, and make a decision within 30.

“If people don’t get an answer from their lender, they call our hotline, ask for the MHA desk and we will work with the lender to get an answer,” said McHale.

Continue reading here…


6 Responses to “Bank of America at it Again – Foreclosed on Over 40 Cents?”
  1. John Wright says:

    If it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!

    BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled “Piggies” I invite you to listen to this song on youtube and see if it appropriately fits.</P

    Have you seen the little piggies
    Crawling in the dirt
    And for all the little piggies
    Life is getting worse
    Always having dirt to play around in.

    Have you seen the bigger piggies
    In their starched white shirts
    You will find the bigger piggies
    Stirring up the dirt
    Always have clean shirts to play around in.

    In their ties with all their backing
    They don't care what goes on around
    In their eyes there's something lacking
    What they need's a damn good whacking.

    Everywhere there's lots of piggies
    Living piggy lives
    You can see them out for dinner
    With their piggy wives
    Clutching forks and knives to eat their bacon.

    Wright vs. Bank of America Lawsuit at:

  2. John Wright says:

    When I filed my lawsuit against Bank of America, myself and United Law Group thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath.

    Please stand with me and United Law Group and send an email to Bank of America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods.

    Divided we might have fell America, but united we must stand!

    Please send your email directly to Bank of America and include the following:

    1. Your name
    2. Your complaint concerning your experience with Bank of America.
    3. Please end your email “I support John Wright vs. BofA Lawsuit!”
    4. Please send a copy of your email to
    5. Please send your email to both BofA link below and the CEO email

    BofA Linked Email:

    CEO Brian Moynihan:

  3. marlyn tracey says:

    I’m looking for an attorney in the Clearwater, Florida area who will go sue Bank of America on my behalf. I have been trying to re-mod my loan since 2007. I helped my sister buy a house. She became ill with cancer and we thought we had it cured, but not to be, she passed June 2008. Bank of America is impossible to deal with. They have been advised to tell me to leave the bank as they refuse to deal with my problem. I get calls from India, and I phone my local bank of america and I’m connected to India.
    I need some real help, I dont’ want to lose my house, I’m not trying to ditch my debt, I just want a resonable payment. My payment with Washington Mutual started at about $650.00, now through Bank of America its now, $3,595.00. They gave me a home equity line of credit of $150,000.00 then blocked it, had to make sevral payments on credit card with crazy interest rates, got it fixed until its paid off. I have not missed a payment, was corresponding with Ken Lewis, but now he’s off the hook and left Bank of America with 83.5 million, thats just not right.
    I don’t trust re-fi businesses as I think they are a bunch of scam artist,who can you trust?

  4. Pat says:

    And this is the reason I love Incredible post.

  5. More of the “change” shinning through?

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