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This is so sad because there are so many people today that truly need help with their mortgage.
Bank of America former employees: 'We were told to lie'
"Bank of America routinely denied qualified borrowers a chance to modify their loans to more affordable terms and paid cash bonuses to bank staffers for pushing homeowners into foreclosure, according to affidavits filed last week in a Massachusetts lawsuit.
"We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012. "Site leaders regularly told us that the more we delayed the HAMP [loan] modification process, the more fees Bank of America would collect..."
I'd bet it's the old Countrywide Gang. The management should all be in jail.
Agreed 100%.
Some of the short sales and foreclosures I have come across over the last few years shows the irresponsibility of the banks during the current housing bubble.
The Nazi's were ordered to kill Jews and said" we were just following orders". Their is a moral code even though progressives think their are no truths.
The old Countrywide gang got out of any problems they caused by telling the government: "We know how to fix this mess" They were certainly a big player in the mess. The principles started a new company called "Penny Mac" and one of the things that they are doing is helping people get out of the bad loans that they placed them in.
The old Countrywide gang got out of any problems they caused by telling the government: "We know how to fix this mess" They were certainly a big player in the mess. The principles started a new company called "Penny Mac" and one of the things that they are doing is helping people get out of the bad loans that they placed them in.
Agreed, the Friends of Angelo (Dodd and Frank, who got below market rate loans) did nothing to the tan man, the head of Countrywide, who at the height of his career was paid 470M per year. He was found guilty of securities fraud, no jail time and ordered to pay back 67M, a mere drop in the bucket. Chris Dodd, stepped down and Frank retired. No one noticed the emperor was not wearing any clothes. They all got away with the biggest theft this country has ever seen........they got away with it.
I totally believe that BOA officials were told to lie. We started a modification in Jan of '10. The back peddling started from there. I finally got sick of doing all of the work for them, and then waiting for them to "review" the paperwork. In the fall of '12 (yep, that long) I finally contacted someone who actually restarted the process and got it done in 5 months. Only to have the modification drop my payment on about 10 bucks! Certainly not worth the time I invested in this, let alone the arrears now accrued on the account. Needless to say I told them what they could do with the house and we moved. Now, they call me at work, and I have heard from them more in one week than I did in 2 years!! Quite the little scam they got going. Yep, they can take the house and "*****" it. And that is what I told them. They said it will kill my credit. I told the lady no worries....they already did that by putting me 50k in the damn hole. Yep, I believe they were paid to lie 100%!
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bank of america paid to lie
