Page 45 - Loan Modifications News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Intentional strategy on the part of the bank to systemically lie to struggling homeowners right up to the point of foreclosure. to hoodwink borrowers, stall for time and maximize the amount of money bank of america got. now, we've known for years in talking to the people on the receiving end of the bank's treatment that borrowers seeking loan modifications were strung along and screwed over. now we have what appears to be the smoking gun. here's just a sample of what the bank of america employees said under oath. simone gordon, senior collector, 2007 and 2012, "we were told to lie to customers...

Now, we've known for years in talking to the people on the receiving end of the bank's treatment that borrowers seeking loan modifications were strung along and screwed over. now we have what appears to be the smoking gun. here's just a sample of what the bank of america employees said under oath. simone gordon, senior collector, 2007 and 2012, "we were told to lie to customers and claim that bank of america had not received documents it had requested and that it had not received trial payments when, in fact, it had. employees were rewarded by meeting a quota of placing a specific number of ac...

Promised they'd clean up their act and help struggling homeowners. but the state of new york says two big banks still aren't playing 100% by the rules. new york's attorney general says bank of america and wells fargo flagrantly violated legal obligations to protect homeowners, putting them at risk of foreclosure. the attorney general claims b of a and wells fargo didn't acknowledge applications to refinance in time. in other cases new york says the banks didn't notify borrowers about problems in their applications, and then didn't give them time to fix those problems. plus, failing to make dec...

>> chris: in a push to simplify loan modifications, a federal regulator of fannie mae and freddie mac says many borrowers are 90 days more past due on mortgages backed by the mortgage giants will be offered lower payments without having to prove hardship. in part four of our series, what to cut, doug mckelway looks at the idea of privatizing fannie and freddie. >> with wages increased, the american workmen share the boom of the prosperous economy. >> home ownership is the american's dream. congress created fannie mae and freddie mac to finance mortgages at taxpayer expense. the two are billion...

Them is that their house is under water and those are sad questions and they're stuck, they can't pay the payment. they can't get these loan modifications through that the obama administration has put out there. it didn't work. and there is some people really stuck. those are really, really sad ones. of course, there is a lot of family questions where people call up and the brother-in-law, he wants to borrow $200 for the 17th time to pay his electric bill 'cause he can't seem to get his act together. so how do we not be an enabler in our family? how do we not cosign for junior who won't get a ...