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THANKS2U

THANKS2U

LoanSafe Member
so-cal-gal said:
Also, as BAD as those pieces of dung in-house mods may be, you also have to deal with certain of the banksters breaching the blasted contract!

They take more payments only to then refuse to honor the signed permanent mod contract. So they've bled you and then they turn around and push foreclosure at you.

Now HOW does that help the economy recover? It looks to me that they have other angles that make the foreclosure actually PROFITABLE for THEM. (Example: insurance of the AIG type on the full face-value of the note in those pooled 'asset-backed securities certificates' that funded most CountryWide loans.) BofA screws the tax-payers and borrowers again!
Click to expand...
SO-CA-GAL

Yes, I agree with you 100 % the banksters have many diabolical ploys to bleed borrowers dry.

We need laws and HUGE fines to stop them from victimizing homeowners !

Thank you for your intelligent input

T2U
 
davephx

davephx

LoanSafe Member
I hope I am wrong but I don't think they have much of a chance. Oral contracts do not apply to real estate (Statute of Frauds) and BofA will deny they "promised"

With the tossing of the case in MN which I thought had much better grounds... it would be interesting to see the actual suit and the basis for it.

Maybe in 2-3 years the case may get heard way too late to stop any foreclosure sale. Hopefully they included a Temporary Restraining Order but very hard to get them upheld from what I understand to stop foreclosure sales.
 
S

so-cal-gal

LoanSafe Member
davephx said:
I hope I am wrong but I don't think they have much of a chance. Oral contracts do not apply to real estate (Statute of Frauds) and BofA will deny they "promised"

With the tossing of the case in MN which I thought had much better grounds... it would be interesting to see the actual suit and the basis for it.

Maybe in 2-3 years the case may get heard way too late to stop any foreclosure sale. Hopefully they included a Temporary Restraining Order but very hard to get them upheld from what I understand to stop foreclosure sales.
Click to expand...
That is where the fight over the WRITTEN PERMANENT mods has a lot more going for it. If only those of us with the blasted contracts could get as much assistance as is going to the less-likely cases! It is frustrating as HELL!

I GOT the TRO and now the PRELIMINARY INJUNCTION based on the BREACHED PERMANENT WRITTEN mod contract. Now I'm fighting the further maneuvers from the fraudsters.

These cases are getting to court much faster than you are citing Davephx.
 
davephx

davephx

LoanSafe Member
I agree with a written contact you really should have a good case. Just a shame you have to go thru this.
 
THANKS2U

THANKS2U

LoanSafe Member
<TABLE border=0 cellSpacing=0 cellPadding=6 width="100%"><TBODY><TR><TD style="BORDER-BOTTOM: 1px inset; BORDER-LEFT: 1px inset; BORDER-TOP: 1px inset; BORDER-RIGHT: 1px inset" class=alt2>Originally Posted by THANKS2U
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Ohio homeowners sue Bank of America over mortgage program - Business Courier of Cincinnati:


Ohio Homeowners Sue Bank of America Over Mortgage Program


http://www.lpsvcs.com/HASP/Documents...ifications.pdf


BANK OF AMERICA SHOULD ALSO BE SUED FOR THE THOUSANDS OF FRAUDULENT TRIAL MODIFICATIONS THEY TRICK BOROWERS INTO, WHICH PREDOMINETLY BLEEDS HOMEOWNERS DRY FOR MANY MONTHS PAST THE SUPPOSED 3 MONTH LIMIT.

BANK OF AMERICA SHOULD ALSO BE SUED FOR MISLEADING HOMEOWNERS INTO QUOTE "PERMANENT" MODIFICATIONS WHICH HAVE NO TRUE SUSTAINABLITY FOR THE FULL TERM OF THE LOAN

AFTER 5 YEARS MANY HOMEOWNERS WILL BE RIGHT BACK INTO PAYING FOR LOANS THEY CAN NOT AFFORD..

INFLATION WILL CONTINUE TO RISE AND JOBS WILL BE SCARCE AND LOW PAYING.

MODIFICATIONS NEED TO NOT ONLY BE MADE INTO PERMANENT MODIFICATION STATUS THE LOAN ALSO NEED TO BE MADE SUSTAINABLE FOR THE 15 TO 40 YEAR TERM WHICH MOST BORROWERS WILL END UP WITH !

Ohio homeowners sue Bank of America over mortgage program - Business Courier of Cincinnati:

Ohio Homeowners Sue Bank of America Over Mortgage Program

http://www.lpsvcs.com/HASP/Documents...ifications.pdf


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</TD></TR></TBODY></TABLE>

MANY so called PERMANENT MODS ARE NOT SUSTAINABLE

"We the People" must ban together and let the banks know and OUR government know that, we know there is a HUGE difference between a Permanent modification and a Permanant Modification which also must be made "SUSTAINABLE" for the full term of the loan - up to 40 years

UNLESS MODIFICATIONS ARE SUSTAINABLE, FOR THE FULL LENGTH OF THE LOAN / UP TO 40 YEARS, THEN THE RESULT WILL BE THOUSANDS OF PERMANENT MODIFICATIONS WILL FAIL AND FORCLOSURES WILL ONCE AGAIN TAKE AWAY OUR HOMES WITH NO RECOURSE LEFT FOR ANY OF US EXCEPT HOMELESSNESS OR RENTING, IF YOU ARE LUCKY ENOUGH TO BE ABLE TO AFFORD THE VERY HIGH PRICES FOR RENTALS IN 5 YEARS....


Government program continues to carry forward trial and permanent home loan modifications | ENTITLE DIRECT

http://www.consumerlaw.org/issues/mortgage_servicing/content/HAMP-Recommendations0709.pdf

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Sustainable loan modifications: the Obama administration's new loan-modification plan imposes hefty new information-tracking dem - Entrepreneur.com

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Sustainable loan modifications: the Obama administration's new loan-modification plan imposes hefty new information-tracking dem - Entrepreneur.com


Manageable and sustainable mortgage payments...
You may be eligible for any one of a number of programs designed to ease the burden of unaffordable mortgage debt.

Seek solutions that will provide you with the peace of mind which comes from knowing your mortgage is not only permanent but that the mortgage modification is clearly SUSTAINABLE for the life of the loan!

<!-- google_ad_section_end -->
 
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nativelasvegan

Guest
This is not "new" news, but not sure if it has been posted before.

Skank of America has permanently modified 12,761 out of 1,000,000 loans.
That's about one percent of the million loans. :eek:
Disgusting! :mad:

Modifying Your Home Loan - ABC News
 
S

so-cal-gal

LoanSafe Member
nativelasvegan said:
This is not "new" news, but not sure if it has been posted before.

Skank of America has permanently modified 12,761 out of 1,000,000 loans.
That's about one percent of the million loans. :eek:
Disgusting! :mad:

Modifying Your Home Loan - ABC News
Click to expand...
OK, I wonder if they count the permanent mods that they have now breached into the 12,761 that they have modified?

Are these the numbers just for the government mods?

The breached mods will likely only be the in-house mods or MHA trial mods that they divert into in-house mods. I wonder how that skews the data?

Does the total of those applied for (1,000,000) include the in-house mods at all?

EVEN MORE DISGUSTING!!!!
 
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nativelasvegan

Guest
I too wonder where these numbers come from. I reckon they pull them out of their asses because there is no oversight. Disturbingly absent from the "report card" issued by the Treasury are numbers of those who face imminent default, and 30, 45 days late. The only reporting I see is 60+ days in default. Kind of like the unemployment figures. Wrong.
You're right, there should be numbers of the reneged loans too.
Can't see that happening anytime soon. It might shame the banks into doing something about this mess.
 
underwater_vallejo

underwater_vallejo

LoanSafe Member
N

nativelasvegan

Guest
Very odd. ???
It has a lot more to do with the cause in general than just citi folk (no disrespect citi folk)
 
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