Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Bank of America found a new way to illegally extract money from customers
#1

Class of Homebuyers Claims BofA Found a New Dirty Trick

December 7th, 2011This one will take your breath away.
Via: Courthouse New Service:
Bank of America found a new way to illegally extract money from customers, according to a federal class action: deduct taxes and insurance from mortgage payments, even though the homebuyers make those payments themselves, then call the mortgage in default for the unauthorized deductions, and charge late fees and penalties.
Lead plaintiffs Rick and Susan Dolfo say that's what Bank of America did to them.
"This is yet another tale of Bank of America cheating its customers," the complaint states. "In 2005, plaintiffs obtained a residential mortgage loan. Bank of America subsequently bought the servicing rights to the loan. From the time the loan was issued, plaintiffs complied with their obligations under the loan agreement. They made their monthly payments, maintained the required homeowner's insurance coverage and timely paid their property taxes. Nonetheless, in December 2009, plaintiffs noticed on their monthly mortgage statement that Bank of America paid their property taxes and homeowner's insurance without the plaintiffs' knowledge or consent, and even though plaintiffs also paid them. To fund the impound account, and without informing the plaintiffs, Bank of America took money from plaintiffs' monthly mortgage payment, not leaving enough to cover plaintiffs' monthly mortgage payment, throwing plaintiffs into default. Once in default, Bank of America, as the loan servicer, was ale to charge additional fees and penalties. Bank of America also falsely reported to credit agencies that plaintiffs were in default on their mortgage."
Posted in Economy, Elite
"Where is the intersection between the world's deep hunger and your deep gladness?"
Reply
#2
Ed Jewett Wrote:Class of Homebuyers Claims BofA Found a New Dirty Trick

December 7th, 2011This one will take your breath away.
Via: Courthouse New Service:
Bank of America found a new way to illegally extract money from customers, according to a federal class action: deduct taxes and insurance from mortgage payments, even though the homebuyers make those payments themselves, then call the mortgage in default for the unauthorized deductions, and charge late fees and penalties.
Lead plaintiffs Rick and Susan Dolfo say that's what Bank of America did to them.
"This is yet another tale of Bank of America cheating its customers," the complaint states. "In 2005, plaintiffs obtained a residential mortgage loan. Bank of America subsequently bought the servicing rights to the loan. From the time the loan was issued, plaintiffs complied with their obligations under the loan agreement. They made their monthly payments, maintained the required homeowner's insurance coverage and timely paid their property taxes. Nonetheless, in December 2009, plaintiffs noticed on their monthly mortgage statement that Bank of America paid their property taxes and homeowner's insurance without the plaintiffs' knowledge or consent, and even though plaintiffs also paid them. To fund the impound account, and without informing the plaintiffs, Bank of America took money from plaintiffs' monthly mortgage payment, not leaving enough to cover plaintiffs' monthly mortgage payment, throwing plaintiffs into default. Once in default, Bank of America, as the loan servicer, was ale to charge additional fees and penalties. Bank of America also falsely reported to credit agencies that plaintiffs were in default on their mortgage."
Posted in Economy, Elite

And these and other Banksters are not going to jail....not even being investigated for crimes; while those in OWS and others protesting their lack of ethics and destruction of society / robbery of society and persons go to jail by the thousands!...... Hmmm...wonder if it is because the legislators are bought out and have sold out!?
"Let me issue and control a nation's money and I care not who writes the laws. - Mayer Rothschild
"Civil disobedience is not our problem. Our problem is civil obedience! People are obedient in the face of poverty, starvation, stupidity, war, and cruelty. Our problem is that grand thieves are running the country. That's our problem!" - Howard Zinn
"If there is no struggle there is no progress. Power concedes nothing without a demand. It never did and never will" - Frederick Douglass
Reply
#3
Instead of seeing corporate propaganda advertisements on TV we should see ads that show a War Of The Worlds alien craft with a Bank Of America logo on its side hovering through the countryside sucking money out of homes while shit-heel politicians gather on the back deck of the alien craft giving phony speeches and taking a cut.
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  Money Debt: The Secret of Oz by Bill Still David Guyatt 1 15,513 05-03-2017, 09:32 AM
Last Post: David Guyatt
  Fraud Police move into Anglo Irish Bank David Guyatt 7 4,651 21-11-2013, 09:18 AM
Last Post: Magda Hassan
  Top 50 bank holding companies (BHCs) as of 09/30/2011 Magda Hassan 0 4,291 17-10-2011, 12:42 AM
Last Post: Magda Hassan
  Bank of America website remains down Ed Jewett 5 3,057 07-10-2011, 09:58 PM
Last Post: Ed Jewett
  How Atty. Gen'l Eric Holder Colluded With Bank Of America To Destroy Wikileaks & Silence Journos Ed Jewett 0 1,741 29-09-2011, 07:11 AM
Last Post: Ed Jewett
  Coins, Coins, Money,Money, not used, yet horded away..... Bernice Moore 0 1,740 18-09-2011, 03:43 PM
Last Post: Bernice Moore
  Analysis of Financial Terrorism in America( David DeGraw) Ed Jewett 0 2,010 11-08-2011, 03:53 AM
Last Post: Ed Jewett
  The World's Biggest Central Bank Has Private Shareholders Ed Jewett 0 1,819 30-07-2011, 04:01 AM
Last Post: Ed Jewett
  Bank of America document leaks Magda Hassan 1 2,765 14-03-2011, 06:53 AM
Last Post: Magda Hassan
  FBI sweeps into cricket boss Sir Allen Stanford’s bank David Guyatt 10 6,442 06-08-2010, 05:53 PM
Last Post: Jan Klimkowski

Forum Jump:


Users browsing this thread: 1 Guest(s)