Bank of America hasn’t modified any mortgages so far under settlement
Bank of America Corp hasn’t completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday.
Five financial institutions that are part of the settlement have provided $10.6 billion in consumer relief from March 1 to June 30, with $8.7 billion in the form of short sales in which customers sell their homes for less than the mortgage’s value. Bank of America produced $4.8 billion in short sales, the most of the five banks, according to the first report by settlement monitor Joseph Smith.
JPMorgan Chase & Co completed $367 million in first lien modifications in which borrowers had their loan balances reduced, about half of all modifications.
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When BofA (BAC Home Loans) offered me a modification, I chose not to opt for it because it would mean i was acknowledging their “Ownership” of the property. What really pisses me off is that “it” was sold at a “Trustee Sale” for less than $7,000 more than my original down payment of $30,000. My Wife had lived in the condo for about 4 years, and had to move. The original loan docs I believe were fradulent. I even had to go sign with the Title Company in another County. Can anything be done AFTER the property has been sold? I’ve read a little about “Forensic” study of loan docs. If there IS any way to pursue this, please, anybody, let me know. This property is in the State of Arizona. (Also the Loan was originated in California with Countrywide, a company that I held in high esteem. How Mozillo, and these other creeps sleep at night is way beyond my comprehension. They have GOT to be sociopaths.)
I am not an attorney but this can be pursued gathering the documents in great detail as what took place. You will most likely have to find out if they have the proof to have standing of all forms of title and you would have to bring a suit in a court of law within your jurisdiction within the county where the home is located. Dive into the statutes of law and follow the Garfield Living Lies comments and laws. Study and educate yourself and it will empower you to keep going with due diligence for the cause. Don’t just try DO IT’ and you will feel better about yourself in taking action against bank. Become wiser about your action and learn more about law and statutes and what others have done before you with court rulings and attorneys filing of court cases are a good start. Robert Wade. waderobert65@yahoo.com successful homeowner against Wells Fargo Bank.
My mail box is full with offers for a re-fi and my phone is ringing off the hook, BoA is offering HAMP2, what a joke. If I wasn’t crying so hard I would LMAO.
It only PROVES CONFIRMATION that the Prime Banks was NEVER the HOLDER in due course after the mortgage was securitized by the SUBPRIME BANKS THAT NO LONGER EXIST HAD THE ONLY RIGHT TO FORECLOSE.
NOT ANY 3rd PARTY BANK OR SERVICER, and THAT’S WHY THEY’RE were ROBOSIGNING WHEN THEY GOT CAUGHT, AND WAS EXPOSED ON NATION TV IN FRONT OF AMERICA.
“TECHNICALLY, NO ONE SHOULD BE GIVING UP OR BE FORCED OUT OF THEIR HOMES SINCE THE TRUTH CAME TO LIGHT.”
THE PEOPLE SHOULD NOW PROTEST ALL COURTS FOR NOW TREATING THE PEOPLE UNFAIRLY BECA– USE THERE IS NO JUSTICE THERE EITHER.
IT NOW EXPOSES THAT THE WHOLE SYSTEM IS FLAWED AND NEED TO BE SHUT DOWN!
The courts are there for the CORPORATION PRIME banks since their PENSIONS are tied in with the BANKS shares.
JUST GOOGLE the county of that court and check out the Judges retirement plan of what bank pays them. THIS FRAUD IS HIGHER THAN YOU THINK AND IT POINTS TO ONE BIG CIRCLE OF ACCOMPLICES…
“NOW it becomes a CONFLICT OF INTEREST.”
The Judge CAN’T RULE on that CASE because HE HAS VIOLATED HIS OATH TO PROTECT THE CONSTITUTION which means THE PEOPLE, LAND AND PROPERTY COMES FIRST TO BE PROTECTED.
NOT TO FAVOR WITH THE CORPORATIONS…
THE HOMEOWNERS WAS DENIED THEIR CONSTITUTIONAL LAWS to be DETHRONED FROM THEIR HOMES ON ROBO SIGNED, MERS, RECONTRUST, NO CHAIN OF ASSIGNMENT FRAUD.
THESE PRIME BANKS CAN’T EVEN VALIDATE THE DEBT under the FDCPA aka Federal Debt Collection Practices Act. THE PEOPLE SHOULD CHALLENGE IT BECA– USE THEY WOULD LOSE EASILY.
“BUT THE COURTS LET IT SLIDE, AND THEY DON’T PRODUCE IT.”
THESE PRIME BANKS MAY HAVE YOUR PROPERTY NOW HAVE COLOR OF LAW BY FRAUD, ROBO SIGNED DOCUMENTS, UNLAWFUL EVICTION, & COLOR OF TITLE which is ALL VOID.
THAT’S WHY THEY CAN’T SELL THE HOMES BECA– USE THEY SCREWED UP THE CHAIN OF TITLE, WHICH THEY NEVER HAD EITHER.
“CONSTITUTIONAL LAW” “IS THE ONLY SUPERIOR LAW OF THE LAND,” and their PRESENT LAWS ARE PRIMA FARCIE. WHICH MEANS NOT REAL LAW.
THAT’S WHY THE COURTS, JUDGES, LAWYERS, are trying to HIDE IT FROM YOU AND STRIP AWAY YOUR SALVATION TO FREEDOM.
HOMEOWNERS OF AMERICA, WE ARE UNDER ATTACK BY THE REAL TERRORIST OF THIS CONSPIRACY BY THESE CORPORATIONS ON USA SOIL THAT WAS ALREADY BAILED OUT FROM THE TARP OF 2008!
SOUND THE ALARM, THIS SHOULD BE A STATE OF EMERGENCY!!!
Not at all surprised at this! Went to court with B of A on old Countrywide loan, surely had bad paper, never discovered even who owned the finished loan, probably they didn’t know either. Court allowed summary and dismissed our suit, never giving us even a shot at modification. If you can’t sue and make them modify a loan, if they prefer to pay a high priced lawyer to stop any type of modification, what else can be expected?
I talked with another appraiser this morning who said the banks are now flooding the market with REOs and forced short sales right now so get ready for a dip in values again. He said he was backed up with appraisal requests for REO/foreclosure appraisals from banks issuing orders in bulk. We always hear the bottom has been reached but not yet. Liquidation in the subprime markets continue, often into the second and third wave as investors turn them, resell and they fall again. New program out now very similar to the ones in the past designed for low income borrowers.
Now that the lawsuits have faded into the election spin plus those who could make a buck off of other people’s misfortune have been there and done that, combined with no risk of criminal charges, the banks are back in the making hay season.
Watch for it! Those on the front lines, appraisers, hungry real estate agents, know what lies ahead.
File for a Bankruptcy chapter 7. Just you ,not your spouse, if married. In your petition file a proof of claim. Make them show the bankruptcy court what they filed in state court. They most likely will not want to. They had summary judgemnt on a property I owned, well Chase did. The neocon judge was ever so helpful to the bank. Truth be said my defense at the very start was no very good, It was an attorney” familly friend” who was not very agressive.
After I hired another attorney then things slowed down for the bank big time, but still they got summary judgemnt due to the judge being a bank lover and me and not defending it properly form the very begining. I guess it was better then going Pro Se. Never go Pro Se!
Chase withdrew summary judgement a few days after I filed for BK. Its been two years and they have not returned to the battle field. If you are not succseful in your first chapter 7 then you hit them with a chapter 13. If married then your wife can do the same. This will make them show proof of claim and or make them withdraw if fruad is there, which we all no their is! At the very least you just bought yourslef another few years, but I really think they will back down if you file your first BK properly and put them on the hot seat. Bankruptcy judges are not cut by the same cloth as most state judges. They dont care one bit if you stay in your home for free. All they care is does the bank presenting the foreclosure own your note properly and has standing.
Well, i am not surprised. I started my lawsuit in 2010 after I sought modification thru Wilshire, the serlvicer for Countrywide which by that time had both been bought out by BOA and were actually part of BAC. Ok Wilshire had ok’d the mod. Then BAC took over and said well no–you need to start over. I said use the docs from Wilshire and they claimed they did not have them (later found out Wilshire had left the docs in an office where there was a dental law firm and some astrology group who contacted me based upon the file left in that office). I then sent new materials, certified mail, by fax and overnite. Got some ridiculous response like you don’t qualify because you are a veteran (im not). By that time I realized this was screwed up because they were sending back payments (who sends back payments when I had been making them for over a year consistent with the loan mod terms?) They said they did not want payments. Sued them in quiet title and declaratory judgement (still going on but that mess would fill a book or a blog and I may start one soon) The lawyer for BOA said lets send in the paperwork gain–she helped me fill it out and agreed it met everything required. Sent in, and it came back claiming it was not coplete. Even the lawyer for BOA said there was no point after that!. So loan mod with BOA? Its a farce. The problem with BOA is they are not sanctioned enough.
Here’s the latest in my case which defies my 35 years of trial experience! Sent discovery to Wilshire, Merrell Lynch, Countrywide, BAC, Citi as Trustee for MLMI 2006 HE-5, BOA. About six inches of requests for production, requests for admission, requests for entry upon land, interrogatories, 30b6 deposition notices, some multiple requests. I get back AFTER THEY ASKED FOR A 60 day extension no less!, page after page after page saying Wilshire, Countrywide, BAC don’t exist and therefore they don’t have to answer! This is after they filed separate answers and individually joined a removal action! Merrell Lynch even said and I quote: We are part of BOA so are answers are the same as BOA! Astounding. It is the most abusive group of defendants in 35 years and I have sued GM, the CIA, FBI, Catholic Church, every government agency. BOA claims Citi owns the note–well the MERS defendants produced documents showing that an unknown investor now owns the note in the MERS system and the note has been “deactivated”. They then produce the purported original note: Problem!!!!! It shows the note endorsed from Aegis Lending the original lender without a date, to Aegis Mortgage. Aegis Mortgage is never recorded in the land records and is never recorded in the MERS system at all! Aegis Leding sold to Merrell Lynch–who is never recroded in the land records. And according to Aegis Lending it was Wilshire who prepared all the paperwork for the note–not Aegis and MERS claims it never chose any of the entities that appear in the paperwork as their “employees”. So go figure. Also, MERS claims in their answers that they have a financial interest of some kind in the note. So folks, am I shocked at this. No. The only thing that shocks me is that more courts do notthrow the book at these books and grant free mortgages as sanctions against BOA.
I would give your post 2 thumbs up because I hear what you are saying and know the Courts are deficit bordering on fraudulent. Most don’t even have the knowledge to handle this mess. It looks like you should have a free house since no one owns it. I never discovered who owned mine but I suspect something similar to your story. They can’t modify what they don’t own. They need to start over but don’t have the authority to do even. I believe this is a Countrywide’s legacy. So I am being forced into a short sale and heaven knows what kind of title a new buyer will get. I think many of these deals are being liquidated as “cash” sales with no title search, guarantee or history “as is” deals. What you see is what you get. Title clouded and trading anyway, private financing, rental packages, the sky is the limit. They are creating a monster out there and people have no idea!
Curiously, in researching comparable sales I am seeing something that looks suspiciously like ‘money’ laundering or ‘house’ laundering. Selling bulk properties under one deed in multiples and immediately selling or transferring the bulk to another limited corporation buyer, big discrepancy in price between transactions, into 100K on tear down properties. These are primarily in the previously subprime market areas. Houses individually selling cash for $5,000 $15,000 mysteriously morph into $200K+ in a bulk 5-20 property deal. Can’t quite get a handle on what they are doing but it looks mighty fishy!