The San Francisco-based bank, which controls about a third of the market for all new home loans, denied it engaged in illegal discrimination and said it agreed to settle solely to avoid litigation, according to a proposed consent order. �??Wells Fargo ... Wells Fargo Settles U.S. Allegations of Home-Loan Bias
Bank Of America has agreed on a 5 million dollar settlement after claims that it's Countrywide Financial unit gave higher interest rate loans to black and Latino borrowers regardless of their credit score. The Young Turks host Cenk Uygur breaks it down. www.nytimes.com Subscribe to The Young Turks: bit.ly Download the politics or entertainment hour of this TYT episode: goo.gl The Largest Online New Show in the World. Google+: www.gplus.to Facebook: www.facebook.com Twitter: twitter.com
http://leafgardenpress.com/ Bank Of America Minority Home Loan Settlement - 5 Million
By applying for BOA home loans, you can successfully manage a monthly payment. BOA declines your application if you do not have very good credit score. Financial stability and marital status plays a very important role in applying for the same. Bank of America Home Loans is available in a range of options to choose from. All the current rates offered by the bank, are available at its official website. The bank will help you save money, time and highlight and pave your way towards a financially feel safe future. They offer a number of value added features. The bank has also introduced the provision for internet banking. By opting for this option, you can make your payments online.
Bank of America's mortgage scheme considers the price of the property to be parallel to your earnings
BOA Home Loan Modification:
Bank of America home loan modification is gaining popularity day by day. It is also associated with the Federal loan modification program. Whenever you are facing difficulty while repaying the loan then assure that whether you are eligible for applying for a loan modification. You must get in touch with the loss mitigation department executives to ask them about loan modification before applying for the same. It is certainly a better option than refinancing or foreclosure. You must present a detailed records of past as well as current income and expenses before applying for a loan modification. A well drafted and detailed hardship letter is required which gives a clear picture of your circumstances. Also there is a requirement that your monthly mortgage payments must exceed 31% of your gross monthly income. The whole process takes eight to ten weeks to get approved. Few of the eligibility conditions for the same.
The date of receipt of a subprime mortgage or adjustable interest rate mortgage needs to be before Dec 31 2007
The borrowers need to be delinquent for more than 60 days, before being measured for modification program of Bank of America
Before the borrower can be considered for the modification program, the loan to value of the property ratio should be greater than or equal to 75%
The mortgage customer service team of BOA guides the loan borrowers in choosing the best mortgage program for them. You can contact the home loan customer service team through telephone or through emails to get all the answers for your queries Find More Bank Of America Home Loans To Suit Your Needs Topics
Question by : Foreclosure but I'm current on payments. Bank of America harassment? I don't get it. Wanted to know what you think I should do, and if anyone else is having problems with them. Was behind a payment last year. I was sent a notice to accelerate the mortgage when I was exactly 28 days late (So I was late making July's payment, because my house flooded which I called and told them, and they sent me the notice to accelerate on July 28th). Caught up and paid a month in advance. Started getting collection calls (up to 11 in a single day) right after X-mas when I was paid up to February. I called them and they said they were calling me because I was late in the past, even though I wasn't late then, and I was paid in advance. I have received approximately 60 calls so far. Then a week later I get a "transitioning out of your home guide". I called them and said I don't want to move, and why are they sending me this. They said they had no record of sending it. I asked them if they wanted a picture of it. Less then a week later I get ANOTHER "transitioning out of your home guide" and options on short sales, deed in lieu, etc. Yesterday I got a letter stating that they wouldn't approve my APPLICATION to participate in a short sale or deed in lieu of foreclosure. I NEVER applied for either of those. I am paid until February 1st. It is January 25th. Am I missing something here?? Why the h*ll do they keep sending me this crap? Then same letter also said that they are continuing to proceed with the foreclosure that was stopped 3 yrs ago when the loan was modified (had a job loss. Got another job, but it only earns 43% of previous employer with no benefits.) How can they foreclose on a house when I am current on the note?? They also won't release any of the insurance check for the damages, until I've been on time for 6 months (And they call a payment made on the 2nd of the month late. I realize it is due on the first, but even the late payment fee kicks in on day 16). So unless it is paid before the the 1st for 6 months, they won't release the funds. So here I am making repairs without any money from the insurance check. I am 80% done with repairs, and they won't release a dime until it is at 100%. They won't even pay a contractor directly. Does it sound to you like they are trying to force me out of the house?? Every time I call them, they assure me that the payments have been applied, and no payment is due. Don't know what to do about all this foreclosure paperwork I've been getting. I really don't have the money for a lawyer, especially since I've been making repairs without the insurance money. It makes me think they are up to no good. The pamphlets that the man received in the clip below are the exact ones I've been getting. His house was being foreclosed on for 80 cents. http://video.foxbusiness.com/v/1367526745001/bank-of-america-forecloses-on-home-over-80-cents/?playlist_id=87185&intcmp=obnetwork Best answer for Foreclosure but I'm current on payments. Bank of America harassment?:
Answer by erin
I paid in advance a few times and got the late letters; but my lender is not as aggressive as BofA so I didn't get the foreclosure letters. When you pay early, they will apply that payment at the END of the loan toward the principle. You need to call and try to work something out with them. It is BS they didn't tell you this. Look up your bank records etc. BofA is about the trashiest POS bank anyone could ever deal with and I am 100% certain that they are trying to boot you out of your home. Sorry to hear your going through this :(
Answer by deb s
when you get a harassing phone call...get the name and address of the offenders. They are not allowed to handle any case that is in dispute. Keep all your phone records... make sure you have copies of ever single call.. keep a complete log. If BofA continues... file a suit against them in small claims $ 5,000. For harassment and defamation of character. You can file for about $ 25..and no lawyer. Each day they do this to you...you can file for another $ 5,000. It will end up costing them so much in legal fees to be in court with you all the time..they will quit this. Plus..you are very likely to win!!
Answer by realtor.sailor
Based on what you describe you are current, but you don't indicate whether or not you have responded in writing. Right now you have a "he said, they said" situation. You need to document everything and start with a certified letter outlining the payments (including canceled checks) made and why you feel you are current. Your letter should be concise and state just the facts. Don't be long winded like your post. As far as releasing the insurance proceeds, this is typical. They want assurances the repairs have been made before releasing the money. realtor.sailor
