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Tag Archives: bank of america

New Sweepstakes Scam Using Bank Of America And BBB Logos

The Better Business Bureau (BBB) is warning of another sweepstakes scam now circulating. Apparently phone calls are being made stating you’ve won $3.5 million but in order to receive your money you have to wire them $25,000 to cover the insurance of your winnings. Luckily some consumers found this call to be somewhat odd and asked for more information. Given ... Read More »

Is a Bank of America Bankruptcy in the Future?

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In an interesting twist, Chris Whalen of Institutional Risk Analytics is making the case that Bank of America is better off at this point to pursue bankruptcy to restructure their mortgage liability problem. It is yet another case of bankruptcy being used appropriately to restructure debt so the person or business can move forward. Bank of America could enter a ... Read More »

Nevada Bitch Slaps Bank of America Over Mortgage Mess

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by Paul Kiel, ProPublica The state of Nevada dramatically expanded its lawsuit against Bank of America today, turning the narrow case it filed late last year into a broadside that targets virtually all aspects of the bank’s mortgage operations. Bank of America has previously denied wrongdoing. The sweeping new suit could have repercussions far beyond Nevada’s borders. It further jeopardizes ... Read More »

Should I Do a Deed in Lieu of Foreclosure or Short Sale With Bank of America? – Pat

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“Dear Andy, We originally had Countrywide Mortgage provider 2005 ( a fannie mae loan), we were then one day just notified that our new mortgage holder was Bank of America. We have been paying a PMI of around $220.00. In September of last year we filed for a short sale and were approvedin Feb, three months later now they say ... Read More »

Banks Still Foreclosing on Wrong People

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by Paul Kiel, ProPublica Four years into the foreclosure crisis, banks say they’ve made major improvements in how they handle struggling homeowners. They’ve promised, for example, not to foreclose on homeowners who are being considered for mortgage modifications. But that’s still happening. Consider the cases of Laurie Pinkerton and Lisa Peterson. The two women, both Californians and Bank of America ... Read More »

How Do I Get Bank of America to Lower My Interest Rates When They Say I Paid Late? – Kathy

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“Dear Steve, I took out a “consolidation loan” with BOA. The statements are like credit card statements instead of loan statements. I send my payments thru my bank. A while back that were recording my payments one day late and adding fees and uped the interest rate. How do I prove this and get them to lower the interest rate ... Read More »

Government to Bank of America, Wells Fargo, JPMorgan Chase – “You Suck at Loan Modifications.”

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by Paul Kiel ProPublica The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. The administration has long argued it has little power to do anything about it. But now, after millions of homeowners have been rejected, the government has ... Read More »

Can I Settle My Bank of America Credit Cards for Half of What I Owe? – Renato

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“Dear Michael, I have 5 credit cards from bank of America I have been up to date but my job reduce my hours to 32 a week in I stop sending money on April can I settle I have 30000 on all of the 5 cards Can I settle for maybe 50 per cent? Renato” Hi Renato, Can settlements with ... Read More »

Banks Ask Homeowners Facing Foreclosure to Waive Rights

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ProPublica This story was co-published with Slate. A few months ago, Bank of America offered Sergio Cortez of Staten Island, N.Y., the help he desperately needed to stay in his home: a break on his mortgage. Like millions of others, he was facing foreclosure. But there was a catch buried in the fine print. Cortez had to waive any possibility ... Read More »

Bank of America Debt Settlement Statement of Compliance

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It appears that the Bank of America debt settlement statement companies must sign may pose a problem to certain legal model debt settlement companies. The first page says that Bank of America will only work with law firms that have provided in-person and direct face-to-face meetings. That’s just not happening. And in many case it’s with a notary or other ... Read More »

Who Should I Apply With for Help With My Bank of America Mortgage? – Stephanie

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“Dear Steve, I am a single mother, 30yr fixed mortgage @ 5.375% =$910 Co-borrower: mother Remaining term: 28yrs, 10 months Association Dues=$110 (plus an additional $350 was due by this year’s end! and is finally paid off) Far too much credit card debt for my comfort=$3,500 total Student Loans=$60/mo Auto=$235/mo. Still owe appx $7,000 Utilities, taxes, health insurance, etc… My ... Read More »

My DMP Isn’t Going Well. What Are My Options? – Karen

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“Dear Steve, I have been on a DMP with Hess Kennedy/First Consumer Debt Consolidation for about 3 years. Debt started around 70 k and is now about 20k. I am looking to get them out of the picture (creditors didn’t receive last month’s payment- a whole other story.) All of my creditors except one, Bank of America, are willing to ... Read More »

Should I Get a Forensic Audit? The Owner Shot His Wife In The Head. – Brenda

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“Dear Steve, Purchased a lot in Waverly Georgia called Bridge Pointe at Jekyll Island on 12/2007 from Land Resources for $509,000. Loan for $446,000. Interest only payment $2,600 mth. Current property value less than 40,000. Property never appraised at $509,000 but Bank of America wrote a justification for loan based on future amenities and infrastructure promised by Land Resources. I ... Read More »

What Are My Options For Getting Bank of America to Lower my 27.99% Credit Card Interest Rate? – Chris

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“Dear Steve, My situation concerns Bank of America. Last november BoA lowered my limit from 16000 to 15000. at the time my balance was around 14700. When my minimum payment hit me it sent me over my new limit and defaulted me and I was charged with a 27.99% interest rate. The extra interest fees i was paying sucked up ... Read More »

Are Lloyd Ward and Associates Truthful? – Mitchel

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owe over 22000.00 on 2 credit cards to Bank of America. have talked to Lloyed Ward and Ass. are they truthful and can them be trusted.Heard a lot of bad stories about this type of thing. Don’t want to lose every thing I do have because some company takes the money and runs. Bankrupty isn’t and option. What can be ... Read More »

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