Comments on: Foreclosure Fraud – BAC / Countrywide Must Pay $108 Million for Illegally Overcharging Struggling Homeowners; Loan Servicer Inflated Fees, Mishandled Loans of Borrowers

By: BARBARA JONES

BARBARA JONES — Fri, 24 Jun 2011 01:21:54 +0000

In reply to Ken. barb says ,get this BAC put us in AGModification in march 2010 until march 2015 and now we are in foreclosure because they apologied that no one took the time out to escalate it in the system and now in order for them to honour it we have to come up with 14 months of payment because they told us in october 2010 not to make any more payment because we were in foreclosure because we were only making partial payments but we were paying what they told us on the modification agreement and we dont think that its fair to us.

By: Ken

Ken — Wed, 02 Feb 2011 05:35:51 +0000

BAC just sent me a reinstatement for my mortgage that included 2800 for an appraisal, $2700 for a property inspection, and other misc, fees. About $5600 in bogus fees .. I orderd the reinstatement which is only good for 14 days on 1-4-11. I received it on 1/19/11 one day after it expired only to find all of these bogus charges included. They propmptly emaile me a new reistatement that reduced the property inspection to $105 and elininated the appraisal completely. The added over $1400 in attorney fees, over $1,400 in misc foreclosure fees and tripled my insurnce which is through Merit plan whom BAC owns, They say my premium increased because I am in foreclosure. I paid them 12k and now i am out of foreclosure. Now I am going to demand documentation of all of the misc foreclosure expenses and make them requote my insurance or I may just go buy my own policy and make them return the escrow shortage they added to my second reinstatement of $2.300 .Another property I own is a rental and vacant due to them telling me it is in foreclosure. They inceased my insurance for $1800 to $9,540 yearly. They are con artists and everybofy should just stop paying their mortages alla t once and put these crooks out of business for good. I recently was informed that the Saudi’s own 515 of BAC. Go figure!!

By: PJ

PJ — Mon, 07 Jun 2010 22:32:06 +0000

This is big news not just for the settlement for already strapped homeowner’s.. but for the exposure of how these “bailed out” entities are creating’ LLC’s ie: supsideraries on a daily basis to milk the people even further. One question where are the so called “vendor’s” registered and have they paid local taxes for the services they performed? Or is their pay deposited in DL or some offshore entity…. are the employee’s paying FICA/SS taxes…
all big questions to this story!

“Countrywide created subsidiaries to hire the vendors. The subsidiaries marked up the price of the services charged by the vendors – often by 100% or more –”

Thanks’ 4CF for posting this it speaks volumes!