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Tag Archives: bank of america

My Bank Agreed to Settle My Credit Card Debt But Now Wants More

Missing Concept.

“Dear Michael, I have secured loans on a horse trailer and a John Deere tractor which I am current on paying. I have an unsecured master card with Bank of America. I suffered a fire 2 years ago & lost a part of my home, etc. I used my credit card to rebuild with a total of $31,000. I contacted ... Read More »

    Foreclosure and Bank of America Walked Away From My Mortgage

    Abstract Image of Business People Walking on the Street

    “Dear Michael, We were flooded in 2008. Countrywide agreed to an extension during rebuild adding payments to end of loan. They then sent paperwork back with VOID written in sharpie. We were denied any modification, etc. This went on for 4 years. We sent in payments, they sent them back. The house went into foreclosure and a deed of foreclosure ... Read More »

      U.S. Fines Bank of America for Hustling Mortgage Loans

      Real Estate Concept

      U.S. District Judge Jed S. Rakoff yesterday ordered Bank of America to pay a significant civil penalty of $1.27 billion for fraud it committed before and during the time taxpayers invested $45 billion in the bank through the TARP bailout. Additionally, former Bank of America executive Rebecca Mairone was ordered to pay a civil penalty of $1 million to the ... Read More »

        Bank of America to Pay $727 Million for Illegal Credit Card Practices

        Happy people celebrating with money raining

        The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America, N.A. and FIA Card Services, N.A. to provide an estimated $727 million in relief to consumers harmed by practices related to credit card add-on products. Roughly 1.4 million consumers were affected by Bank of America’s deceptive marketing of their add-on products. Bank of America also illegally charged approximately 1.9 ... Read More »

          How Creditors Rate at Helping Consumers Settle Debt


          Michael Bovee, over on his Debt Relief and Credit Guides site has published a very good guide for people about how the major creditors are at providing settlements for problem debt. It’s a really good list and it ranks Chase, Bank of America, Wells Fargo, Discover Card, Citibank, Capital One, and American Express. For example, Bovee revels the best creditor ... Read More »

            Debt Relief Bureau Logo But Not the Debt Relief Bureau in This Mailer

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            When if the Debt Relief Bureau, not the Debt Relief Bureau? When you get a flyer in the mail from an anonymous source promising you help to get out of debt. An amazing reader Tish sent in a new debt relief mailer through my I Buy Junk Mail program. Well here is another anonymous mailer sent to a consumer that ... Read More »

              Bank of America Employees Allegedly Rewarded for Foreclosing

              Business Meeting

              Paul Kiel ProPublica Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part of a multi-state class action suit brought on behalf ... Read More »

                Quicken Loans Keeps Calling Me After Turning Us Down. – Jeffrey

                husband wife

                “Dear Steve, We have an upside down mortgage. In order to make mortgage payments we pretty much maxed the credit cards. We were told by Bank of America the only reason we did not qualify for HARP was b/c we were 30 days late paying June 2012’s mortgage. They told us that since we did not have any other lates ... Read More »

                  My Bank is Stringing Me Alone to Modify My Mortgage in HARP. – Maryanne

                  Loan Modification Green Road Sign with dramatic clouds and sky.

                  “Dear Steve, We have a fannie mae loan that is serviced by Bank of America. Last year when we realized we were not going to continue with payments we contacted the bank and filled out a modification form. We were turned down because our loan was not imminent. We were then told by our customer service rep that we might ... Read More »

                    Bank of America Says I Can Opt Out of My Debt Settlement. – Eric

                    emergency exit

                    “Dear Steve, I am in an debt settlement program and have negotiated a settlement with a creditor Band of America. I have a question for you concerning a settlement agreement that I have with BOA. In the Settlement letter is says “As required by federal law we will honor you opt out request with in 30 days.” Does this mean ... Read More »

                      Billions Now Available for Foreclosure Victims. Banks to Notify Consumers.

                      home foreclosure legal document with house key

                      Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers. The sum includes $3.3 billion in ... Read More »

                        How Can I Get Bank of America to Change My Interest Only Loan? – Clara


                        “Dear Steve, Bank American gave me a Loan Modification with an interest only on my house. How can i get them to change the Loan? Bank America gave me a loan Modification for Interest only. How can i get them to change from an interest only Clara” Dear Clara, It would appear Bank of America extended you a loan modification ... Read More »

                          Deer Hunting Accident Leads to Loss of Cattle and Husband Hit by Train. – Carla


                          “Dear Steve, I was issued a credit card from Bank of America with a limit of $5000.00 inJune of 2007. I can’t remember the APR. We had just purchased 75 acres of land with a studio apartment & a horse barn already on the property. We lived in the 1 bedroom apartment for over a year with 3 daughters and ... Read More »

                            Bank of America Offers Sweet Balance Transfer Deal in Time for Christmas

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                            You would not believe the number of credit offers I review and see. But this one caught my attention as usually interesting. I have no idea how many people have access to this offer but if you are a Bank of America card holder it might be worth calling customer service and seeing if you are eligible for it if ... Read More »

                              Doubts Spread About Independent Foreclosure Reviews

                              Ready to Collapse

                              by Paul Kiel ProPublica The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response, the government mandated they compensate the victims. But there is growing evidence some banks are playing a major role in identifying the victims of their own abuses, raising ... Read More »

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