Wednesday, July 06, 2011

Facing Foreclosure? Bank of America Thumbs Its Nose at You

This Los Angeles resident, who is part of a class-action lawsuit alleging that B of A and one of its subsidiaries flouted rules governing the Home Affordable Modification Program. From USA Today:

It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.

She soon learned that her troubles had just begun. Weeks after making her first payment under the new rate, the school district staffer began receiving past-due notices, documents showing wildly inaccurate loan balances and letters threatening foreclosure. She now fears she’ll lose her home.

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