Tell your Attorney General to hold the big banks accountable for mortgage fraud

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Tell your Attorney General to hold the big banks accountable for mortgage fraud

Over the next month, homeowners from across the nation will be meeting with their state Attorneys General to demand that they reach a strong settlement with the nation’s largest banks in the 50-state investigation into the foreclosure scandal.

These meetings are based on a successful December 14th meeting between Iowa Attorney General Tom Miller – the lead in the investigation – and a group of 100 homeowners from 15 states.

This investigation is the best hope for homeowners and communities since the crisis began.

As homeowners we are demanding principal reduction for millions of families who are at-risk of losing their homes, a new approach to preventing unnecessary foreclosures and criminal penalties for bankers who broke the law. Please join us by signing on to this letter, which we will deliver all 50 state Attorneys General who are part of the investigation.

We will also keep you updated about the progress of our meetings over the next month.

Dear Attorneys General,

We, the undersigned thank you for investigating fraudulent and illegal foreclosure practices by the nation’s biggest banks.

Your investigation is the best hope for homeowners and communities since this crisis began. Americans are watching. Our expectations are high that we will see justice for the millions of families who have lost their homes, the millions more who are at risk of foreclosure, and the neighborhoods across the country devastated by falling housing values and vacant properties as a result of widespread mortgage fraud.

The bank executives who committed fraud should be prosecuted. Any settlement needs to go beyond fixing paperwork, fully addressing ongoing abuse and ending the flood of unnecessary foreclosures.

We demand that any overarching settlement agreement contain mandatory loan modification programs, including principal reduction for owner-occupant families facing foreclosure and remedies for those families who have already lost their homes.

Now is the time for bold leadership from the nation’s Attorney Generals to hold big banks accountable for the damage they have done to families, communities and the nation’s economy.

To send message to your Attorney General: Click Here


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  1. Joseph James says:

    I was approved for MHA through my lender Bank of America, due to a severe hardship. Being a seniior, single parent of a Special Needs Child and significant loss of income due to a business greatly effected by the recession. Made trial payments on time supplied all requested documentation and received no permanent modification. Called BofA regularly for permanent mod only to be given numerous different stories by numerous different bank representatives telling me most of the time it was under review. Finally I contacted my Congressman and received a Fedex letter dated March 30, 2010 on MHA Home Retention Letterhead thanking me for submitting all requested documents and stating I was approved for Permanent Modification under MHA and to watch for the permanent paperwork to arrive shortly, sign and return it prior to the deadline but to continue to make trial payments in the meantime. Permanant papers did not arrive. Called BofA and was told “it was under review” another time I called and was asked “if my dog may have chewed it up”. By this time I had made 14 trial payments as directed but could get no one at BofA to acknowledge the Fedex Letter of Approval for Permanent Modification. Finally in August of 2010 I received a call from a BofA negotiator named Isabelle stating she had “good news for me”. I asked what that was and she said”I have a lower interest rate for you “. I asked what the payment was and the payment she quoted was almost 65 percent of my total gross income as opposed to the 31 percent under MHA. I told her it doesn’t matter how low the interest rate is if the payment is unaffordable. I spoke to numerous employees including someone from Barbara DeSoers office and the response was alway basically the same; I could decline it and try next year. I had no choice but to sign the in house unaffordable mod and pray for some help. I have spoken to numerous people at BofA but they all tell me I got a good deal. I believe the in house mod is the bank’s way of being able to report a permanent mod completed but not report that it is unaffordable at 65 percent of TGI and eventually put me in a position where they will foreclose on me. I still have not had anyone at BofA willing to discuss the Fedex Letter nor did I ever receive the notice of being dropped from HAMP as required by law under Regulation Z. I have been in my home for 17 years and up to the time of my hardship had never missed a payment or even had a late payment. Now after being in the MHA Trial since August of 2009 and never one time being told anything other than “we are backlogged, just keep making the trial payments” I find myself on a path to foreclosure because I cannot support my child and myself with such a payment. A man named William from Barbara Desoer’s office told me I should be happy because its less than my original paynment and I said “yes but my income is 75 percent less than it used to be” and it was like talking to the wall. I want what I was approved for and I need what I was approved for to remain in my home. There was more than sufficient time to tell me what was going on not to just tell me to continue to make the trial payments,

  2. Rhonda Stenholm says:

    after 12 months of the MHA nighmare and this program putting us 10,000 past due as they say , they have turned us down, with no letter explaning why, They ruined our credit so now we cant refinace with another company, Never later, never past due until the Hamp offer from them Novermber 2009 , we had always paid our own taxes & insurance, once we started the MHA trial offer our payments went from 1256.06 to 1900.00 which instintly made us past due, because then they said only make the trial payments of 806.70 so its their fault we are behind, with 65.00 a month late fees, 120.00 inspection fee every month for someone to come take a picture of the outside of our home, We are now in the second look program, I offered them in writting , to return to our original loan payments of 1256.06 and put the past due amount on the back of the loan, and they will not give me an answer, I fear they are dirty handed and stalling long enough to file on us, We will take out the past due amount from our 401 K to pay off the past due amount next week, and try to refinace else where, Lock them up !!!!!!

  3. Kathleen says:

    I have signed the form. Everyone get it out to everyone you know and lets get this going! After two complaints to the Attorney Gen Office that prompted the Office of the CEO to call me, nothing is working out. We need them to investigate BofA! I would be more then happy to have them look at me documents of the lies and deception!

  4. Nancy Frost says:

    I agree with you Kathleen, like you I also signed the form and forward to all of my followers who have become victims of BofA!

  5. Gregory Lemke says:

    I so agree the message needs to get passed along. we all need the tell the banks that we are no longer going to allow them to not follow the rule of the law. If the banks fail to act then these who disregard the laws need to be put in jail period !

  6. Kathleen says:

    I did complain twice to the Colorado Attorney Gen Office- It appears they like to turn their faces away from this. I know there is a reasone behind this. COLORADO get on the damn bus and ride! My State has been less then helpful. Very unhappy with this…… Senate are you listening?? HELLO

  7. Todd says:

    what happened to Joseph James? Was all lost?

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