Page 12 - Loan Modification News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> this actually was the living room area. >> but today they're without their historic home once again. lost not to a hurricane but to foreclosure. >> after losing your home during katrina, you weren't expecting something like this to happen again. >> you could die just tragedy from mother nature. i can't, me personally, but when you have this kind of storm to take place, i can't digest that. >> their troubles began when their son became very ill. all while they were rebuilding after another hurricane. fearful of falling behind on their mortgage, they asked their bank to renegotiate their loan...

Black feather mardi gras indian tribe. but today they're without their historic home once again. lost not to a hurricane but to foreclosure. >> after losing your home during katrina, you weren't expecting something like this to happen again. >> you could die just tragedy from mother nature. i can't, me personally, but when you have this kind of storm to take place, i can't die just that. >> their troubles began when their son became very ill. all while they were rebuilding after another hurricane. fearful of falling behind on their mortgage, they asked their bank to renegotiate their loan. >> ...

Dollars to resolve several federal investigators. the justice department has been looking into accusations they misrepresented bad mortgages it sold to investors leading up to the 2008 financial crisis. once finished, that could be the biggest settlement from a single financial institution in the wake of the 2008 crisis. alison kosik is over at the new york stock exchange watching all of this. that's a huge number, alison. $13 billion. >> it really is huge. but it is something, believe it or not, p morgan still can handle. keep in mind this settlement still needs to be finalized. if it is fina...

Digest that. >> reporter: the troubles began when their son became very ill. all while they were rebuilding after another hurricane. fearful of falling behind on their mortgage, they asked their bank to renegotiate their loan. >> it's july 11, 2009. we are pleased to advise you that your loan modification has been approved. >> reporter: yet each month, bank of america kept billing them. the higher amount from the old mortgage. she kept paying on time, as bank reps assured him it was just a mistake. did you make all of those payments? >> made all of those payments. >> reporter: on time? >> on t...

After another hurricane. fearful of falling behind on their mortgage, they asked their bank to renegeuate their loan. >> notice date is july 11th, 2009, we're pleaseed to let you know your loan modification has been approved. >> reporter: yet each month bank of america kept billing them the higher amount from the old mortgage. adolph sarina kept paying on time as bank reps said it was a mistake. did you make all of the payments? >> made all of the payments on time. >> reporter: a year later they forclosed anyway taking the home where adolph serina grew up and his son was born. the bank sold of...