Daily Archives: June 20, 2013

Why Can’t You Get That Mortgage Modification?


   62 – affidavit-BOA Employe-Instructed to Lie re HAMP   Because the mortgage companies are lying    scumbags.  Well, I   have been saying this for years.  Only because it is true.  Hence the skunk picture.

To the absolute complete lack of surprise on my part, or that of my consumer lawyer colleagues, the affidavit linked to here was filed in a court last week.  Check it out, only a couple of pages.  Bonuses for DENYING mortgage modifications.  Extra compensation for LYING to consumers, telling them mortgage modification applications had been lost.  When they could see them.  Oh, yeah, and FIRING employees who told the truth.

It is signed by a Bank of (Everything In) America employee.  I suspect, by now, ex-employee.

We on the consumer front have heard, without respite, continuous tales of woe from understandable frustrated consumers.  Honest people trying to keep their homes, homes worth much less than what was owed the scumbag mortgage companies.  Home for which they would pay more than anyone else on earth.  Much more than the bank would net after foreclosing.

And what were these good people told?  Fill out the applications, send back the forms, ya da ya da ya da.

They did send the forms.  Again and again.  Only to be told, they were not received.  Or, we finally got them, but now they are too old.

I represented an employee of one of the too big to fail, big enough to screw you over banks.  I told him what I heard, damn near every day, and I said, it seems to me, that your mortgage modification department consists of a trash basket set under a continuously running fax machine.  The applications come in, and once a week the custodian dumps out the trash container and sets it back under the fax machine.

He said, yeah, that’s pretty much it.

Bank of (Everything In) America made the worst decision in corporate history when it bought Countrywide, the worst purveyor of sub-prime mortgages, the biggest factor in puffing up the real estate bubble, from which the economy has not yet recovered.   Check out the history of their stock price since then.  So the stockholders suffered.  What about the executives who organized this stuff?

Where are the criminal prosecutions?  Why are these crooks still walking around free?