Class Action – Bank of America Sued by Homeowners for Withholding Federal Bailout Funds

Bank of America Home Loans

Date Filed: March 22, 2010
Court: U.S. District Court
Location: Seattle
Ticker Symbol: BAC

Washington homeowners sued Bank of America claiming the lending giant is intentionally withholding government funds intended to save homeowners from foreclosure. Hagens Berman represents plaintiffs in the class-action lawsuit. Attorneys are interested to speak with other eligible home owners who were intentionally deferred or wrongfully declined a permanent mortgage adjustment per the Home Assistance Modification Program (HAMP).

The case, filed in U.S. District Court, claims that Bank of America systematically slows or thwarts Washington homeowners’ access to Troubled Asset Relief Program (TARP) funds by ignoring homeowners’ requests to make reasonable mortgage adjustments or other alternative solutions that would prevent homes from being foreclosed.

Bank of America accepted more than $25 billion in government bailout money financed by taxpayer dollars earmarked to help struggling homeowners avoid foreclosure. One in eight mortgages in the United State is currently in foreclosure or default.

Bank of America, like other TARP-funded financial institutions, is obligated to offer alternatives to foreclosure and permanently reduce mortgage payments for eligible borrowers struck by financial hardship but, according to the lawsuit, hasn’t lived up to its obligation.

Bank of America services more than 1 million mortgages that qualify for financial relief, but have granted only 12,761 of them permanent modification, reported the U.S. Treasury Department.

According to the TARP regulations, banks must gather information from the homeowner, and offer a revised three-month payment plan for the borrower. If the homeowner makes all three payments under the trial plan, and provides the necessary documentation, the lender must offer a permanent modification.

Bank of America continues to ignore TARP regulations and instead creates more financial pressure on homeowners, the court filing states.

The lawsuit charges that Bank of America intentionally postpones homeowners’ requests to modify mortgages, depriving borrowers of federal bailout funds that could save them from foreclosure. The bank ends up reaping the financial benefits provided by taxpayer dollars financing TARP-funds and also collects higher fees and interest rates associated with stressed home loans.

If you received an inadequate response from Bank of America for a home loan modification request after April 13, 2009, you are encouraged to join the suit.

Please visit: www.hbsslaw.com for more info.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is a consumer-rights class-action law firm with offices in San Francisco, Seattle, Chicago, Boston, Los Angeles, and Phoenix. Since 1993, HBSS continues to successfully fight for consumer rights in large, complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com.

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Class Action – Bank of America Sued by Homeowners for Withholding Federal Bailout Funds
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Comments
18 Responses to “Class Action – Bank of America Sued by Homeowners for Withholding Federal Bailout Funds”
  1. Here we are in 2016, we left our home in Jan. 2011 after B of A threaten to evict us. We both lost our jobs in the fall of 2008, also had major damage to our home in Nov. 2008 which wiped out our cash an cds. We had a loan modification in the making in summer 2009 with Taylor and Bean, but they went bankrupt and “threw us under the bus” to B of A. B of A denied us their help. We then applied with B of A on two more occasions but they wouldn’t really help us. So we offered through Keller Williams short sale options. We had several real offers from qualified buyers, one waited 9 months but gave on B of A. Finally, after leaving the home better than we bought with improvements inside and out we had no choice but to file bankruptcy in 2013. We were upset and want some justice but got none, and, we were willing to let bygones be bygones. When we filed bankruptcy B of A sold our loan to Carrington. The two institutes proceeded to bill us repeatedly over the next few years. Finally, this week we learned we are about to get yet another beating due to a foreclosure coming up in April. John L Scott offered to try a short sale again,either way we lose the last 2 and a half years of rebuilding our credit and won’t be able to own a home again until May 2018. All of this frustration and unfairness is due to a Bank who couldn’t care less to do their job in a competent or professional manner. We need relief and help!!! We can’t endure another financial fiasco. Please let us know what can be done.

    contact no. 435-419-0782
    email address: itisabouttimejohn@yahoo.com

  2. Lia Brissey says:

    I am presently in the my home I have not been allowed to make a housepayment in 2.5 years….I have had to stop 3 sale dates…..Fighting bank of america…..I have been doing this for almost 8 years….Can tell you story after story…..of what I have been through with this bank….I am now facing another sale date…..People we need help….I have hired two attorneys got know where what do we do…..I would love to go public and try that are there anymore people out there willing….I joined a classaction lawsuit a long time ago Bank Of america just sent me 300.00 wow for all I have been through that nothing Still fighting We need help any one have anymore ideas…..something that works….912-586-2407 My name is Lia Brissey Sincerely

  3. April Pendergrass says:

    My loan was with Country wide and sold to BOA.. In Jan 2010 I looked into a MHA loan. I thought that’s the modification I was given. It had over 2 points in the closing costs. The closing costs were over 4000 dollars and lowered my payments only 70 dollars… The only mention of MHA was in the conditions addendum. It stated “closer was to pull new MHA calculation tool – including anyPOC fees paid- including cash to borrower and per deim…I was never notified that my interest could be lowered.. I was working on this situation and suddenly informed today my loan was sold…

  4. PatG says:

    ;} I used Universal Lending to execute a modification (FTC closed their operations for fraud), then had to do it on my own. I had a friend who offered to finance the home, but after three months Bank of America still hadn’t responded to multiple requests for payoff. We contacted the attorney in Monroe Louisiana who was handling the forclosure and was told they couldn’t get an answer either. They finally sent me a modification just days before my home was up for auction. I signed them and sent them back FedEX. Two days later I recieved another offer. I called and told them I had sent the package off, and was told that it contained an adjustable rate and they could get it waived.. It also added back interest of over $18,000 to the balance due of $118,000 making the total due of over $145,000. Since I was caught between the old rock and hardplace, I told them to go ahead with it and was put on a trial period. I fulfilled the period, (supposedly 3 months, but took over 6 months) and was sent a letter saying I qualify for the modification. The letter also in multiple places said they were preparing Agreement papers and as soon as I got them get them back in the time period stated. The wording actually was “to accept this offer, you will need to sign and return a Modification Agreement that includes the terms and conditions of the permanent modification. We are in the process of preparing your Agreement and will be sending it to you soon. Please be on the lookout for a package in the mail and return the Agreement to us by the requested date so we may finalize you loan modification”. I did not recieve them within 4 weeks so I called on and was told if not recieved by June 23, 2010 call back. I waited til June 23 and still no packet. I called and was assured it was “APPROVED” but they were running behind pretty badly. They said call back if not recieved by July 23, 2010. No packet so I called on July 25,2010. Again I was assured it was “APPROVED” and not to worry, it was taking several months to get all the paperwork out. I was told to just continue making the modification agreement payments as I had been doing. I was disabled in Janruary of 2010 and put on weekly disability payments. In Oct 2010 I was put on monthly payments paid on the 21st day of the month so I called and talked to John on the 5th day of December at 12:53 CDT. I explained the situation and he said don’t worry, it would not change anything. He asked if I could afford the modification payments where they were and I told him yes. He also told me I could use direct pay by my bank at that time. He also assured me I was approved for modification and would see my paper work soon. On February 23, 2011 I recieved a call from BOA. I returned the call and was told I had been turned down. They transfered me to the DESIREE TEAM. I talked with a supervisor named Julie Nye. She said my payment was $1184.96. I explained that I had been approved each of my statements showed to continue the $983.32 Payments. She asked me to fax all that to her and she would post it to my folder. I also asked her about the turn down, and she said it did not reference that in my account. She said it showed I was still under “REVIEW”. I explained the approval letter and she asked that it be sent also. Then last night, February 23, 2010 I recieved another call from another dept of BOA. I was told I had been turned down and I would be sent another packet. She also said not to be surprised if I recieved a forclosure notice and not to ignore them. She said they were sending me another package to see what other program I qualify for. So eleven months after I was sent an approval letter , and over 18 months since the process started they are now wanting to steal my home. I am now on permanent disability and would probably not qualify for any program. Where do I go from here? I have already went to the Federal Trade Commission and Louisiana’s AG

    • Denise says:

      It is sad to hear your problem. I can’t believe these mortgage servicers are putting you through the same bs and playing the same games they put me through in 2007. This entire fiasco is the greedy bankers’ creation.

  5. Jim Bachie says:

    We filed for a modfication in November 2009 after hearing from our bank that because of our loss of income we would qualify, Winthin 20 min or so the reduced our monthly payment by almost 400 dollars while the modifiction processs was going on. After 3 months we were infored that we were turned downed for that program but there was another prrogram that we might quailfy for but would need to provide the same information as we did on the first attempt another 3 months went by hearing nothing called several times got the same answeer every time “it under review” then came the bad news we did not qualify for that plan but there was another program we might qualify. once again you got they wanted the same information we sent previously and them denied our mod finally we hired a loaw office out of California who gauranteed they would get us a mod we are now going into the 6th month without a mod only threats of foreclosure, my atorney keeps telling us thaty its not unded forclosure. We had to refile the same paper work which we did howeveer some one lost it or mis placed it so we got turned down we called aour attorney and advised them of situation and had proff via receit that we faxed paperwork to them to the tune of over 19 dollars guess what they found the paperwork and faxed it over to them thye went ahead and reopened our case and said the house is not under forclosure. Then yesterdaay 1/31/2011 we recevoed a letter from the bank saying we needed to start paying our orginal monthly payment begining on the 1st or we we be forreclosed o n. It should be noter that our attorney advised us to stop paying our mod until we payed them off now that they are payed off we started payiing the old orginal modification that is when we got the letter of wanting us to start payin our mortgage. In our hadship letter we provided we indicated that my wife and I arfe on disability due to multipul disabilities and still got denied. We keep doing as we are told and still nothing happens. We also have filed bankruptcy over a year ago and can’t file because of the mod if we do file we probably will lose the chanceof getting the mod. So if you want to put my name down on the suit list please do and please provide me with some advise if posible

  6. Mark Goodman says:

    same story over and over. Mine is no different. After waiting to hear from BofA since Feb of 2010, I called them numerous times only to hear, “we are currently reviewing your file”. Last week I get a denial because I didn’t contact them? Didn’t know I was suppose to other than the several other times that I called them. Yesterday I get a letter stating that possible foreclosure steps could take place but BofA is still reviewing my case? What the…to make it even worse, I initially hired Law Office of Peter O’Toole to help initiate this remodifiction. Now they closed their office and moved my file to their “sister” office who doesn’t even handle this. So I’m currently out my $3K that I paid them and I feel soon out of my home. My wife and I both work and struggling to make it as it is. We have a 4 year old son and, because of the economy, my brother-in-law has to live with us. We have no place to go if we loose our home. We are paying BofA each month but cannot get caught up on 2 months worth of payments. Now, with their penelty rates, we owe them waaaay more money than what our home is even worth. Yet, we still want to live in our home…that is why we bought it. Sign me up for any class action lawsuit you have against BofA. All I want is the remodification done and save our home.

  7. LaCrecia Beard-Hunter says:

    I need more information on classs action suit. Can someone please contact me a.s.a.p. I would like to become a part of the class action suit however I am limited with infomation on the procedures. I feel I and my family are victims of the Bank of America scams. Help! Help! Help!

  8. Wayne + Deb says:

    10/23/2010

    I have been a Bank of America customer for over 30 years, now that being said the following is an outline of the events leading to up to the dilemma we now face.

    Our home mortgage was serviced through Countrywide home loans which as we all know is now B of A. In November of 2008 we spoke with a loan specialist at our local B of A branch about refinancing our home to possibly lower our interest rate. We were directed to try applying for a “loan modification” as advertised by B of A. I called the appropriate phone number to BAC home loan servicing LP and spoke with a representative there, she took some general information and said that we likely would qualify and the process would take about 90 days to complete, also that someone would be calling to gather more information. A month went by and no call, I called back several times and finally got to talk to a person that took more information and said we would be receiving an application package in 7 to 10 days and that during the application period we were to make trial payments that were near 300 dollars less that our normal mortgage payment. The representative also noted that during this trial period there would be a note on our credit reports that indicated a less than normal payment was being made.
    The application package was sent to us via FedEx, which we filled out and returned promptly. A month went by with no notice or update about the status of our application to modify. Again I called the BAC home loan servicing LP center and asked about our application, I was told they did not have an application from us in their records but they would send another one for us to fill out and return. Which we did, promptly…. We repeated this process 5 times until May of 2009 when we received a letter from BAC home loan serving LP that stated they were unable to process our request for loan modification because they had not received the necessary application forms!!!

    (side note, At this time our home/auto insurances had come due and because of the notation on our credit reporting from BAC home loan servicing LP our insurance premiums increased by 300 dollars per month!! )

    I had to question WHERE were all of the forms that included much of our sensitive personal information? In desperation I sent emails and faxes to every B of A corporate person I could find an address for. One day later I received phone calls and emails from B of A department heads and was given a phone number to a person that would be handling our modification. I called and spoke with that person, confirmed some of our information and was told we would receive notice of our modification status within a week, of which we did. We were told we would be receiving the new contract and payment coupons via FedEx. We did receive a new mortgage contract with a new lower interest rate and monthly payment, which we signed and returned WITH the first payment, but did not receive any payment coupons. As there were no payment coupons to state how the payments were to be made or mailed to, I called once again to BAC home loan servicing LP to obtain this information. So we have been mailing our mortgage payments to the location we were told in Van Nuys, Ca. (called a second time to confirm) as our on-line banking has not yet been corrected so that we may make the payments on-line, additionally our on line banking shows us delinquent. And now we are receiving notices by mail that we have not made our mortgage payments and are in danger of foreclosure. I have tried to call BAC home loan servicing LP to the same person that was “handling” our modification and was told “our loan is being handled by someone else now and that person will call us”. We are still waiting. I have called BAC home loan servicing LP in an attempt to find out what is going on only to speak to another nice lady that explained we are receiving notices because we have not been making our full mortgage payments, when I tried to explain that we had a completed modification she informed me that she showed no record of that but that she would send an email to the department that handles that.
    Which brings us to date, now we have received a NOTICE OF INTENT TO ACCELERATE from the Van Nuys office. We have made ALL of our payments in the amounts we were told to make, to the location we were told to make them to.

    I have called BAC H.L.S. LP so many times I have memorized the number 1-800 669-6607. Each time I have called I get a different story. I do know this, we have done everything that has been asked of us and in return B of A has screwed us.

    We can see where this is heading, we could lose our home and maybe after a year in court we might get it all straightened out but by then it will be too late.

    It is bad enough that we have lost any equity we had in our home because of the housing market collapse, but to add this dilemma on top of it… all things considered we now understand why so many have chosen to just walk away.

    I have dates, times, numbers, names and copies to substantiate all that has been said here, and more.

    The Kirks in AZ

  9. Anonymous says:

    If you read the copy of the lawsuit that is enclosed in the article, the lawyer’s contact info is at the bottom. It includes his phone number, fax number, physical address, email address. Contact him and join the lawsuit.

  10. Meaculpa Ariaza says:

    In March 2010, I received a letter from my inverstor Freddie Mac inviting me to attend a Mortgage Seminar sponsored by Hud as they would be present as well. I was 2 mos behind on my mortgage pmts. I met face to face with a BOA rep. After reviewing my situation she told me she would put me on a 4 mo Special Forebearance Program as well as the MHA. She had the Forebearance agreement sent to me and the MHA application. I filled them both out and sent them in according to their time frame. I continued to make my lowered forebearance payments on time. In July 2010, I found a Foreclosure notice on my door. I immediately contacted BOA. The rep (Teresa) told me the reason why I was taken off the Forebearance Agreement was because they decided to keep me on the MHA because they felt it was a better program for me. She said I could not be in 2 programs at the same time. They had to drop the forebearance. I was told they could NOT suspend the foreclosure notice even if I was in a MHA review. In August they followed up with the NOD with a sale date of Noveember 29th!!!. What really upsets me is had I stayed on the Forebearnce in August I would have been caught up on my loan. I HAD THE MONEY!. Instead of the 8,600.00 NOW it jumped up to 19,000.00!!! I trusted BOA was steering me in the right direction back in March. If they knew I could not be in 2 programs at the same time then why in the hell did they put me in them???? Now I find myself in a lousy exhausting MHA review (has been 5 mos now) facing foreclosure sale on Nov 29, 2010.. Can’t even be in my cozy home for the Holidays!! How could they get away with this? I battle everyday.. I call them twice a week with the same story that “its in review”… I NEED HELP! I’m in Seattle, Wa….

  11. BOA or USA? says:

    March 16, 2010 11:15 am.

    I just got off the phone with Fannie and was told I absolutly qualify for the govt. program..and told to call B of A (AGAIN) and demand I be put back into the govt. program that B of A denied me from.

    B of A customer service “Sir, LISTEN TO ME – there is no HOPE, there is no HAMP, there is no HELP for you!!”

    So I tried to talk on their chat and see if they would actually type that;
    Current Transcript of the Chat Session
    Welcome to an online Home Mortgage chat session at Bank of America. Please hold while we connect you to the next available Home Mortgage Specialist. Your chat may be monitored and recorded for quality purposes. You are number 1 in a queue of 1. Thank you for your patience.
    You are now chatting with ‘Kelly’, a Mortgage Specialist. How can I help meet your goals in financing today?
    chris: hello kelly,
    chris: does bofa offer the HAMP Program?
    chris: sorry, the HARP Program
    chris: either one
    Kelly: Great I’ll be happy to assist you with that.
    Kelly: In order to give you the most accurate information about your options, I recommend we speak over the phone. Do you have a moment now?
    chris: yes, but do you offer either of the programs ?
    Kelly: Yes
    Kelly: May I have you phone number?
    chris: sure

    They would not type that nasty lie/statement but they still would not help me. I have so much proof that they are trying to force people into foreclosure.

    They tell you to miss a few payments and you will get help – then they screw you.
    They tell you they will send you paper work- it never comes.
    They tell you that they will put you in a mod – they put you into foreclosure.

    They tell you that they will help you in the innement default – lsten to BofA President talk to Cavuto on tv

    this video has been taken off youtube!!! watch and figure out why..

    go to 3:30 in this video.
    http://www.youtube.com/watch?v=MuIR2c9UHXs FIND THIS VIDEO!! IT’S BEEN TAKEN DOWN TO PROTECT
    THE BANK.

    this video has been taken down..it was Dan Moneyinhand President of bank of america admitting that they DO NOT MODIFI CURRENT LOANS..PLEASE TRY TO FIND IT ON THE WEB…IT IS 100% PROOF THAT THEY DO NOT HELP PEOPLE WHO ARE CURRENT …SO WHY HAVE AN INEMENT DEFAULT TEAM? IN MY OPNION – TO HELP THE BANK GET PREPED TO FORECLOSE.

    SUE THEM
    IF THOUSANDS OF PEOPLE FILE SMALL CLAIMS COURT ACTIONS AGAINST BOFA THEY WILL STOP SCREWING US. WATCH http://www.youtube.com/watch?v=YjH4Us0n0QY&feature=related

  12. Gene says:

    How does one join the class action?

    Thanks,

  13. Michelle Nice says:

    In early July 2009 my husband and I were behind on our mortgage payment. I was very concerned about this and contacted our mortgage holder Bank of America to see if we could get on a repayment plan. I was talked out of doing this and convinced to apply for the Making Homes Affordable restructure loan.
    I was unaware of this program at the time and the bank rep explained it to me.
    I initially had a lot of questions and inquired about the acceptance and denial process, I was assured by the bank rep that once you were accepted into the program the only way you could be denied was if you failed to meet and complete what they required of you. First you had to see if you were approved, so I started the process with him at that time over the phone, he wanted all financial incoming net and gross monies we received each month and an itemized list of all outgoing obligations. I provided him with all of that and was then informed I would receive something via FedEx with in 30 to 45 days explaining the process and that at that time I would be required to send further documentation.
    On August 10th we received a letter from FedEx welcoming us into the program and congratulating us on doing what we needed to do to stay in our house. On August 17th we received the exact same letter again asking for copies of our checking account, paycheck stubs and tax returns, we complied with all requests and sent them. Not once but twice as they apparently lost the first ones we sent them, they had record of them showing up but no one knew where they were. So could we send them again which we did.
    I stayed in weekly and bi-weekly contact with B of A inquiring if we had completed everything on time – I was repeatedly reassured that they had all that they needed and for us to continue making our monthly house payment. Which we did.
    Finally after many phone calls to B of A we got a FedEx envelope on December 20th 2009 thanking us for our financial documentation. We again received same said letter from them on December 24th 2009 saying that we had entered into the trial payment modification part of the program, it stated that we needed to make 3 trial payments of $1782.50 the first on or before 2/1/2010 the second on or before 3/1/2010 and the third on or before 4/1/2010. I again called them and said I had just made Decembers payment and I wanted the terms of the trial modification clarified and outlined for me. The rep told me that the December payment I had made had actually constituted the first trial payment that was to be made on or before 2/1/2010 – I asked him if I needed to make another payment in January and was told NO, your December payment will be applied to your first trial payment, I then said to him if I don’t make a payment in January then I will be behind another payment, and he said yes you will but that it would all get worked out in the loan modification, they will either put them to the back of your loan or incorporate them into your new modified monthly payment at a lower interest rate when the process is completed.
    I stated to him that I was uncomfortable technically getting behind another payment and he then informed me that if I brought my house payment current it would kick us out of the program, I was not to waiver from the guidelines they set forth and had to comply with all they asked exactly they way they asked or we would be out of the modification program, I was again informed the payment I made in December was my 1st trial payment. I then said my regular monthly payment is $1780.39 and that the 3 trial payment vouchers they had sent me asked for $1782.50 it was a only a couple of dollars difference so not a big deal, he then said to me make your 2nd trial payment on or before 3/1/2010, I thanked him for his time, but deep down this information seemed just wrong. I waited a couple of days and called back with the same questions and once again was given the same answers, and told do not waiver from the program guidelines we set forth or you will be out of the program.
    In February when we got our taxes back I called again and asked if I should apply them to our mortgage and was adamantly told NO do not do that it will kick you out of the program. He did say I cant tell you I wont take your money but I can say it will kick you out of the program if I do.
    I made 2nd trial payment before 3/1/2010 still keeping in constant contact with bank making sure we had crossed every t and dotted every i and jumped through all their hoops, I was repeatedly told yes you have done everything we have asked just keep making the trial payments you are in the modification process follow the guidelines we have given you, do not waiver from them.
    I made the 3rd trial payment before 4/1/2010, as May was approaching I called the bank again and asked them how I needed to proceed, as the 3 trial payment vouchers they had sent us we had already used for making the 3 trial payments, I was informed that they were way behind on processing the mod loans and to continue to pay the trial amount to put loan # in memo section of our check and to continue to send $1782.50, that it may take several more months. I paid the 4th trial payment in May.
    In June I tried to make the 5th payment in the branch as I always had and it would not accept my payment, I came home and called the bank and was informed that a letter had gone out saying we were declined for the MHA modification since our current payment was not equal to or more then 31% of our total gross income….( Shouldn’t that have been determined long before we were ever accepted into the program? I think so if it had we would never be in the position we are in right now ) at this time I was once again reassured that we had gone straight into an in house program with the bank that would ultimately have the same outcome for I loan…so I paid the June payment, the 5th in this trial period only this time I had to now make payments of $1818.88 our original house payment had gone up due to our property taxes going up…okay I was fine with that and was told keep making the $1818.88 payment your still under review for in house restructuring. Again this was on June 18th 2010.
    In a letter dated July 2nd 2010 we received a notice of intent to accelerate, I was beside myself and called them demanding to know what was going on with my loan, after speaking at great length with a rep and getting nowhere and no answers, I asked to talk to a supervisor. I did eventually get a supervisor and explained all we had been through from the beginning to currently getting her on the phone, she then stated your loan restructure was denied and closed on June 23rd. I then asked her when they planned on informing us of this, and she said it is not our job to keep you informed, it is your job to see where things stand…( are you kidding me? What did they think I had been doing through out this whole process? it is documented how many umpteen times I had called and tried to constantly and consistently stay on top of this whole thing.)
    She then very matter of factly wanted to know if I could come current by August 1st 2010 in the amount of over $7000.00, I told her I did not have that kind of money and that there was no way I could get it in basically 3 weeks, I was then advised the ONLY thing she could do would be to split the past due into 5 payments that would be added to my monthly mortgage payment thus resulting in our house payment for the next 5 months being $2926.80, this is all she could offer and the only thing that could save our home from being foreclosed on…I had to take her deal because I had no other choice and losing or walking away from our home is not an option for us, we love it and have always had the intent of staying here and not walking away like so many other people have been forced to do.

    I am so disheartened, disillusioned and plain mad as hell that the bank can do this to people and get away with it. Had I gone with my original plan over a year ago our missed payment would have long ago been caught up, but by taking their advice and doing what they requested and never waivering from the guidelines they set forth they have screwed us. I was 100% repeatedly in contact with them, I thought I had asked all the right questions and complied with all the terms they set forth…they had the ultimate decision to put us in the program or not, we were not aware of the 31% rule they have for their approving or declining process, someone at the bank dropped the ball big time with this and they allowed it to continue by accepting our trial payments for 5 months now they expect us to be able to financially pick up the pieces of their mess and their mistake.
    I was also informed during my last phone call with them that federal guidelines had not even been implemented into their program until April 12th 2010 so how then could they even start the process or expect anyone to stay within their strict guidelines if they did not even know what they would be. I also asked at that time for a copy of the agreement I made with them for the repayment plan be sent to me in witting as I felt at that time I could not and would not be able to trust a single thing I heard out of anybody working on the their behalf. I am hopeful that someone on your end will be able to help us get some answers that make sense.

    • Alina says:

      Michelle,

      I am so sorry for all that you have been through, but it is standard operating procedure for these entities. You cannot trust a single thing coming from their mouths. The reps are trained to lie in order to get as much out of you as possible while the bank continues on its path to foreclose on you.

      I think I can say confidently that all of us have been victims of their lies. I would urge you to report the bank to the OCC and to any other agency you can think of.

      There are several excellent websites where you can obtain some invaluable information – livinglies.wordpress.com, foreclosurehamlet.org, msfraud.org.

      Additionally, if you are in Florida – check out these attorneys’ websites: mattweidnerlaw.com and gingolaw.com. In CA, check out this attorney: timothymccandless.wordpress.com.

      I am sorry to say but you need to be prepared to fight a long hard battle.

    • Tammy says:

      This is EXACTLY how it has happened to us! However we are not able to come up with the nearly $17000 we are behind….so what do we do now? They told us to call in with our financial information and now we are “reinrolled” in the program….that gets you no where….But at least it puts off foreclosure while I desperately search for a class action lawsuit I can join?

  14. 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.

    http://www.youtube.com/watch?v=sXdKlpBOvs0&feature=related

    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: unitedlawgroup.com

    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 johns-wright@hotmail.com
    5. Please send your email to both BofA link below and the CEO email

    BofA Linked Email:
    https://www3.bankofamerica.com/contact/?lob=general&contact_returnto=&state=VA

    CEO Brian Moynihan:
    brian.t.moynihan@bankofamerica.com

  15. Lucy says:

    Oh my God, this is happening to me! I was only one month behind back in August 2009 and recieved notice of defaulting on my mortgage from the bank! The first time since I took over payments I was late, it was an honest mistake. I thought I paid it. So I ignored the notice and immediate paid up. This is my Show Low home. Soon my renters moved. Now I have no excess income.

    I was late again in December for both homes this time! I went to B of A to try and borrow against the Show Low house so I can stay afloat. Bank said that because I had been late two times in the last year, the Obama bail out wasn’t for homeowners that had any late payment last Februaryu I briefly read article about B of A not providing loan assistants to their

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