As a Broker, I worked a B of A short sale through over 9 months. They lost the entire file twice, and I rebuiltm it from scratch. They came back with a counter offer and the first Buyer walked. Then an all cash Buyer made an offer at exactly the price and terms B of A stated in their counter to the first Buyer, and asked to close in under 30 days. B of A lost the letter the Seller had sent authorizing me to negotiate on their behalf, which they had approved twice in the preceding 9 months. They wouldn't even talk to me for a week and a half while they were reviewing the same letter. A week before the sale to the new Buyer was to close, B of A foreclosed on the property. They then re-listed the property as a foreclosure for $50,000.00 less than the cash offer. Go figure

Catherine and Mags, or who ever makes that comment that people that are in foreclosure all bought homes they cant afford. The truth is, they could afford them, but lost their jobs. Hello !!!! If you make nothing, you cant afford a dog house, so what would it matter if they bought a lower value house. No job, no shelter. Where are these people going? Think what would happen if your job was compromised. What would you do?

Dont forget these banks approved these mortgages, and in some cases fraudulently by having their appraisers fix the appraisals to the mortgagees favor to get the mortgage. They also took the risk, but the economy has done something never before seen and this is a misfortune for all parties involved. the banks need to be more understanding and try to work with these poor families instead of swooping down like a condor with huge talons and rip them apart...

K

I'm sure he has enough money to hire the unemployed to clean it up for a mere pittance from the money he stole from everyone else!

i can not beleive this many people are this stupid....it's always somebody's elses fault

Just to think those people want me to pay back a loan, how ridiculous can they be, now just leave me alone, you'll get your money, maybe. I need peace and quite, time to think.

BofA Yuk! Try to call them and discuss a problem, you can be passed around forever by a robotic voice. But, if they call you, a twenty year old tries to talk like a tough guy and berate you. I Can not wait until my last payment, then so long to the worst bank I have ever dealt with.

Oh an Jim that is exactly the type of mentality you get when you deal with these blood sucking maggots....

Karma..it is not a coincidence that every time there is an article about BOA that the number of negative comments always surpasses the positive by leaps and bounds..wonder why that is..hmmmmm

Good for them, if i had been there i would have brought my trash to. When you beg and plead with a bank to help you lower your payments to keep from loosing your home, and they tell you to more or less to go to hell, then something is very wrong. So I say more power to them, I hope everyone that is in charge of Bank Of America will loose there homes someday. But they have all of our money so they don't loose anything. I really don't see how they can sleep at night after what they have done to the people that are just trying to save their homes and familes. But in the end at judgement day God will take care of them. Their Souls will burn in Hell for what they are doing.

Our home was with Countrywide, never had any problems with them, then of course, BOA bought out Countrywide, I was so ticked off when we heard that., Anyway, never late on payments, still working at same job, (thank God) but decided to see about refinancing to get lower interest rate, (lower payments) now at 7.25%. BOA, stated would have to go through Fannie Mae (YUK) with closing costs approx. $8,000 & of course Fannie Mae charges a mortgage insurance (to make up the loss for giving loans to LOSERS). Also have been in home for approx 14 years, would have to start over at 30 yrs. What did we tell them, NO, HELL NO. What jerks, here is an example of people, never missed a payment, etc. etc. yet they find ANY excuse to do a refinance at responsible cost. From reading the posts, I pray to God we never have to ask them to help out due to loss of income, they would for sure STEAL our home.

I'm not sure I know enough about some of the comments in the article to address them; however, I believe the protest should be against the Congressmen who pressured the banks to increase their risk by lending to those who could not afford to repay and placing the banks in this situation to begin with. I do believe that a bank should accept payment, even if late, and work with the person as much as possible to keep them in their home.

i am sure all those charities are for places the wealthy like to go like art museums , the theater, symphonies and PETA and such

How many of the loans were gotten by people who knew they could never afford them, were hoping that by the time the balloon became due the home would have appreciated for them to make a profit... Many were speculating and are now paying the price!!! That being said the dems pushed the Fannies and Freddys to make bad loans that were then sold off as derivitives again and again.. So many are to blame..

The main business of a bank is to take our deposits and lend it out to those who can afford to pay it back. How would you react if the bank told YOU that they could not return your deposit because a borrower lost his/her job and had no money to repay their mortgage?

I lost my house to BoA (I can't bring myself to write out their name). I read what they said (the bank). It appears that they have been reading (and believing) their own propaganda. The country would be a lot better off if BoA went out of business. A certain amount of banking needs to be done in our country, so their employees could get jobs at other banks and they wouldn't have the stigma attached to themselves as being BoA employees. I truely feel sorry for anyone who has to admit they work for BoA.

I'm sorry you lost your ability to repay your mortgage and accordingly lost your home. The economy has made it difficult for everyone, including the banks, to stay in business and keep employees. The entire industry is contracting and there will be tens of thousands of lay-offs from all the banks, leading to more people losing their homes. We need to ensure that the banks and american businesses recover so that we can prosper again.

CEO Moynihan should have TONS of garbage on his lawn. He WALED AWAY FROM HIS OWN PERSONAL MORTGAGE over 10 years ago...because it was a 'prudent business decision..." THEN BOA walked away from 4 of their properties AND CALLED IT A PRUDENT BUSINESS DECISION..." But when consumers WHO WANT TO RENEGOTIATE A SETTLEMENT have their papers lost 17 times...and young families are thrown out of their house...BOA calls it a issue of morality to pay your mortgage...AND TAXPAYERS GAVE BOA BILLIONS TO STOP THEIR COMPLETE LIQUIDATION/BANKRUPTCY! !!! Moynihan set up an INCENTIVE ROBO-SIGNING program. For every foreclosure thye complete the top 20 executives received $19000...the clerks received $50...

Bank of America needs to remove the "America" part from it's name as it is a disgrace to our nation. It baffles me why people continue to even do business with such a corporate machine that rapes, backstabs, and plunders its customers as its standard operating practice. Guess there's just a lot of mascochists out there!

"Vengeance is Mine, I will repay, saith the Lord."

Some years ago, Bank of America did me really nasty and dirty, forcing me to switch Banks.

This whole mess started because these banks put mortgage products on the market that made it easy for people to qualify for home loans. Because of their lending expertise these banks knew or should have known that these loan products would lead to disaster. Loan brokers (who have been blamed needlessley) sold the products that the banks put into play. These banks never intended to keep these toxic loans on their own books; they intended to and did sell them as MBS investment vehicles. When things collapsed the recourse provisions kicked in and the mess started. Ordinary people who were not sopihisticated in borrowing trusted the bankers who gave them these loans with the promise, "you can refinance later." In realtiy, what these banks did was swindle everyone, they swindled buyers, brokers, investors, and they did it with impunity. Enterr noe the bank servicing companies that are raking in hundreds of millions of dollars in profits servicing loans that may belong to investors all over the world. In some areas these banks have taken over and control the real estate market. All of this while our "We can change" President twiddles his thumbs and congress turns a myopic eye. Grass roots action by the American people is the only thing that will stop this fraud.

i'm sure many people have been taken by banks,who were assisted by congress telling them to make zero intrest loans.but think of this,you move into a new home with nothing down,with payments less than a rental of equal value,live there for a few years,and still have spent less than you would have if you had rented.and even got a tax right off.

How can you people post that do not read all, that is written.Mark & Mags,you two are
are rude,selfish,controll freaks who think you know it all.You dont care who you hurt.big
deal you still have your home.you will lose it,then,what will you say? This Mess that
the GREEDY,corrupt government has put us in+the greed in Banks,Mortg has just
started.Its all over the world & it is only going to get worse.The leaders all over this
world are thieves.they are no different than the thieves in jail.Only difference is they
are educated & wear expensive shiny silk suits.the lust for money & power is evel. This is what this world has become.To bad there is not more,decent, honest,truthfull,people
who know what respect,integrity,honor & the thing that has been taken away.The
need to help & care about someone else.I am proud that I have helped & cared.
Sad,& Angry

nm

bank of america and well fargo both suck. two worse banks chase is third on the list.

I think I understand that the bailout was all paid back . But I think the people in America are asking for the same thing. A bailout or if you like to call it a
( modifacation ) .

Have to get ready for school .

We the PEOPLE MUST MAKE OUR VOICES HEARD . NOW IS THE TIME .

HELP THOSE PEOPLE WHO ARE UNDERWATER AND LOSING THEIR HOMES

no more updates please

This is ridiculous. Apparently most Americans have decided it can't possibly be their fault it has to be "someone" else's fault. It doesn't matter they NEVER read the documents they signed (STUPID) agreeing to make payments. Great example to be sending to the kids out there who already think they are entitled to everything they want now you're telling them BLAME CORPORATE AMERICA when you make a mistake because apparently you're perfect & never make mistakes.
I'm also happy to see I was "priviledged" to read so many comments from so many PERFECT PEOPLE in our country who as employees never, ever made a mistake. Maybe all of you should go work for BofA so no one else's paperwork got lost & short sale decisions could be made in a matter of minutes.

I'm really saddened by some of the comments. Especially from DALLAS. Calling people stupid is just plain mean. I think you can express your views without resorting to baseless name calling. Those people you are referring to have already suffered loss, so don't rub more salt in their wounds. Are all people in DALLAS this mean and spitefull?

All I can say is lose your job (income) and see how you can repay your mortgage back. I bet DALLAS does not even have a mortgage and if he or she does, if you lost your income how would you pay for your mortgage? Until you walk in other peoples shoes don't judge!!!!!!

This is a great and informative post.Well, the points given were facts that could never go wrong. I have visited so many pages with the same discussion and topics