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Bankster of America seeks to dismiss foreclosure complaint

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 06:53 PM
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Bankster of America seeks to dismiss foreclosure complaint

(bloomberg) Bank of America Corp. (BAC), the biggest U.S. lender by assets, sought to throw out a complaint that accuses it of violating obligations to homeowners seeking to modify mortgage loans and avoid foreclosure.

Borrowers say the bank systematically failed to comply with a U.S. government program aimed at stemming foreclosures and has violated contracts for modifying loans, according to a complaint in Boston federal court that consolidates cases from across the country.

Bank of America asked U.S. District Judge Rya Zobel at a hearing today to dismiss the complaint. The bank argues not all homeowners are eligible for inclusion in the governments Home Affordable Modification Program, or HAMP, and that its not required to permanently modify all loans that are eligible.

The bank is constantly working on the process, and the Treasury is breathing down its neck to make the process better, James McGarry, a lawyer for the bank, said. ...........(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-07/bank-of-americ...



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howaboutme Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-07-11 07:18 PM
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1. What? Sue us? We're the biggest bankster. You can't do that!!
BOA - "We and our financial elite incompetent and crooked friends own you and your soon to be reposessed house and your govermnent"

Americans fight for crumbs while these bastard banksters hold us up again. We need about 50 million angry people on the streets instead of sitting on their ass and getting fat watching Dancing with the Stars. The only way that the PTB will get the message will be through firm but peaceful mass protests.

Until then we the people are invisible sheep to crooked politicians and compromised conflicted judiciary.
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