Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCouple Uses Music Video To Embarrass Bank Of America Into Closing On Their Loan
http://thinkprogress.org/economy/2011/12/29/395745/couple-video-bank-america-loan/Couple Uses Music Video To Embarrass Bank Of America Into Closing On Their Loan
By Pat Garofalo on Dec 29, 2011 at 4:45 pm
Bank of America has been notoriously slow in getting borrowers into mortgage loan modifications over the last few years, losing paperwork, running borrowers in circles, and then resorting to foreclosure fraud to push borrowers out of their homes. And as it turns out, its not only loan modifications that the bank cant keep straight. As Eamon Murphy laid out at Daily Finance, one couple needed to cut a music video mocking the bank in order to finally get BofA to close on its mortgage after a more than two month delay:
Ken and Meredith Williams humorous music video, the centerpiece of a no-holds-barred social media campaign waged against Bank of America (BAC), convinced the bank to finally close on the couples mortgage despite the lyric, born of frustration with a 72-day waiting period, Dont let anybody tell you youre too big to fail/Cause you belong in jail.
As AOL Real Estates Teke Wiggin reports, Bank of Americas social media team took note. Not only did the bank finally close on the $203,000 loan on Dec. 16 seven weeks after the Oct. 31 date given originally by a senior mortgage officer it also agreed to pay the $50-a-day late fees the couple owed to the seller.
As AOL Real Estates Teke Wiggin reports, Bank of Americas social media team took note. Not only did the bank finally close on the $203,000 loan on Dec. 16 seven weeks after the Oct. 31 date given originally by a senior mortgage officer it also agreed to pay the $50-a-day late fees the couple owed to the seller.
Watch it @ link~
This isnt the first time it has taken a public information campaign to shame BofA into treating a borrower properly. Back in August, the bank foreclosed on a New Jersey man two days after approving him for a loan modification, and didnt correct the error until New Jerseys largest newspaper pointed it out.
The Williams loan closed December 16. We apologize for the delay in closing, and for the inconvenience, we provided a credit at closing, Bank of America said in a statement. Perhaps those waiting on loan modifications from the bank should pick up a guitar and pen a tune if they want to get some attention?
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
2 replies, 891 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (11)
ReplyReply to this post
2 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Couple Uses Music Video To Embarrass Bank Of America Into Closing On Their Loan (Original Post)
babylonsister
Dec 2011
OP
hobbit709
(41,694 posts)1. Those lyrics should be sung in front of every bank and on Wall Street.
MedicalAdmin
(4,143 posts)2. While horrible this points out something in the DNA of bankers
On their heart or hearts they want all of us put on blackface and sing a minstrel song, or tap-dance, or otherwise entertain massa before they will feed us or let us sleep.
I think these organizations are acting like they want a return to the "good old days" only this time it will be a class division that will become permanently desired discrimination by the new masters.