Posts Tagged 'HAMP'

HAMP loan modifications: How to avoid getting scammed

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HAMP load modification scams have been front page news over the last year, with Bank of America leading the charge on systematic fraud and deceptive practices inside their loan modification department.

It isn’t only customers of Bank of America putting home owners into foreclosure for fraudulent reasons, banks sell their loans to non-bank loan servicers that are even shadier. Servicers who purchase servicing rights are not obligated to follow through on prior agreements with homeowners on loan modifications that aren’t yet ...

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Are HAMP Loans a Scam?

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Because Cossitt Law has seen too many struggling Montana homeowners come through our doors, it is important that we alert the public to the massive fraud in the HAMP and other loan programs that big banks, most notably Bank of America, are pushing on the public. Clients on the brink of foreclosure or bankruptcy come into our office hopeful about the loan modifications they have been offered and ...

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Bank of America: Foreclosure Bonuses for Employees and Nothing for Homeowners

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While most Americans struggle to make ends meet, pay their debts and keep their homes, Bank of America is giving out gift cards for meeting quotas tied to sending distressed homeowners into foreclosure.

A Bloomberg article from June, 15, 2013 provides some more of the ugly details. Court statements from ex-Bank of America employees said that they were told to falsify records and improperly disqualified applicants to the Home Affordable Modification Program (HAMP). The employees said ...

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