Comments on: Bank of America Drafted Dodd’s Housing Bailout Bill

By: Little Fish Mary

Little Fish Mary — Sun, 03 Jul 2011 17:08:02 +0000

Bank Of America gave many modification with negative balances purposely left in escrow account of clients. They send the homeowner off with their new lower monthly payment. Tell them all their past dues are now rolled int o their their new bigger principle.
They sit and wait and then years later. Demand immediate payment from home owners for those past dues in escrow which THEY fabricated and purposely left in escrow. When poor regular folk don't have the money they want IMMEDIATELY they forclose on their home."Walla! BIG FISH GULPS UP LITTLE FISH"

By: Mary

Mary — Sun, 03 Jul 2011 17:01:08 +0000

We,ve had our home fixed loan,( no PMI) for 20 years! B of A gave us a final modification from $2395. to $2700.(Modification was notorized w/ammended note paperwrk) We paid diligintally for TWO YEARS! then one day we are monthly statement CHANGED from $1755. to $2700.! No explaination! Just PAY NOW!
We begged and asked the to wait for fall/winter when our employers bonuses and raise would kick in.
They said no problem. We kept paying 1755 and a little more every month. But not the 2700! B of A kept taking our money. Telling us all along were OK. Then suddenly 6 months later they take our last mortgage payment hold it in a suspension account. Do not apply it and refuse to apply it, even after many phone call with us willing to give them what ever we can to have it applied. NO IN DECEMBER THEY send us a DEFAULT letter and we are now facing a Trustee sale of our home first home we bough as newlyweds! and are raising are two boys in! Shame on you Bank Of America. And shame on you Judges and politicains for NOT protecting regular people!

By: Morning Bell: Big Government Fails Again | The Foundry: Conservative Policy News.

Tue, 12 Jan 2010 21:35:30 +0000

[...] by the housing bubble was heavily influenced by the government’s market intervention. Countrywide Financial has lost $2.5 billion in just the past year and has another $6 billion in nonp…. Fannie was the biggest buyer of Countrywide loans. Former Walter Mondale and Barack Obama campaign [...]

By: marvin

marvin — Mon, 06 Jul 2009 19:33:32 +0000

Acccording to news, on JUne 10 this year, Obama Bailout turned a profit" of $1.8 billion in interest payments on the first set of bank loans that were repaid." That's a very good indication!

By: Renard

Renard — Thu, 12 Mar 2009 22:14:54 +0000

BAC is STILL RIPPING PEOPLE OFF!

AFTER PAYING DOWN DEBT BY 17,000, leaving a balance of 100 plus dollars. I was justly told, I could no longer use my credit card. Although I was not allowed to used my credit card, BANK OF AMERICA allowed TWX PXS693 PREVENTION magazine to continuely charge my credit card. I never sign up for this magazine, the charges were dated at least two months subsuquent to BAC denying me access to my own credit card.

When I asked, "How could charges be accepted to a credit card that has already been blocked?". BAC clearly was not interested in finding out why & how " TWX PXS693 PREVENTION 800-586-9633 NY" was able to add charges to a blocked Charge Card. Surely a scam that B.A.C. helps facilitate…..

By: Dennis, Illinois

Dennis, Illinois — Sun, 28 Sep 2008 17:24:34 +0000

I would like to know if this is true why isn't the news picking it up.

By: Mike, Maryland

Mike, Maryland — Wed, 16 Jul 2008 20:59:37 +0000

Ok, so has any enterprising reporter chased this to a source and connected it to Dodd? Confirmation would be nice. I work with distressed homeowners and have been trying to figure out why lenders turn down short sales that clearly reflect market value. This legislation could explain it. A 30% hit on principal sounds pretty good when the market value is 60% of the note amount. Take off another 10% for transaction fees and they are down to 50%. And there are plenty where the market value is starting at 50% of the debt. They're waiting for the big payoff. No wonder lenders would back this bill and slow roll shortsales (workout's, too). They get to stick the taxpayers with 50% of the loss instead of taking it all themselves.

By: Michael

Michael — Fri, 27 Jun 2008 10:33:59 +0000

Bad, bad news. Dodd's corrupt connections just keep on going. I wonder what's next? Along with Heritage, check out Freedom Works for information on what's going on with the Bailout and what you can do to stop it: http://www.capwiz.com/freedomworks/issues/alert/?...

By: Dan New Mexico

Dan New Mexico — Tue, 24 Jun 2008 10:59:08 +0000

Wow, I am shocked to see this from the "liberals" in DC? I must say I am even more suprised to see people attack the very people who put this out there. Did these same people cry foul when the main stream media called Florida for Gore? Did they cry foul when the main stream media said things like "the firing of US Attorneys by Bush was a first" when Clinton did the exact same thing to more US Attorneys? How about the cry from the media when VP Cheney had meetings with oil and gas companies and the main stream media claimed that they wrote the energy policy for the US? I can go on and on but the fact remains the very folks in DC that say they champion the cause for the "common folks" are doing exactly what they claim to be fighting against and that is getting the very best deal for their friends and themselves. I guess robbing from Peter to pay Paul is a good thing if you are Paul, it stinks if you are Peter.

By: Bob Lowry-Iraq

Bob Lowry-Iraq — Tue, 24 Jun 2008 08:14:32 +0000

http://bigpicture.typepad.com/comments/2008/06/di... Here is one source for the document. Proof is in the pudding. I hope BofA goes bankrupt and disappears. They are a bunch of thieves anyways.