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I apologize that the page always breaks. I am the only pereson who does a scrolling blog, in which Word Press can not handle. So it breaks the page every once in a while. Unforunately, it loses the comments, but I still want to encourage you to leave comments.
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John Wright
Piggybankblog.com
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23 Comments
Right after B of A, they should investigate PennyMac, who is profiting from Countrywide’s original theft. Lots of laws were broken, they just think that the laws that the banks broke were not as significant as the “moral hazard” if they have to go back and fix the damage to us homeowners.
That is how those who believe they are “elite” elevate themselves above those of us who are “middle class”.
What – a nation of renters? I don’t think so. Are we really going to allow that to happen? I hope not!
So the banks and government will end up owning most of the property in the U.S.? Not if I an help it!
HI JOHN
LETS SEE A CEO CAN BASICALLY THREATEN THE PRESIDENT OF THE UNITED STATES .. IF YOU INVESTIGATE ME I WONT SETTLE. wE DONT WANT YOU SETTLE WE WANT YOU TO PAY FOR ANY FRAUD
Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon said President Barack Obama’s decision to expand investigations into home lending and sales of mortgage securities could stop settlement talks with the states over foreclosure practices.
“It has a pretty good chance of derailing it,” Dimon said in a televised interview with CNBC from Davos, Switzerland on Thursday.
Obama, in his State of the Union address Tuesday, said he has asked his attorney general to create a special unit of prosecutors to expand investigations into home lending and packaging of mortgage-backed securities. It is not clear how the new unit will be different from earlier investigations.
JPMorgan is the largest U.S. bank and one of the larger servicers of mortgage loans. JPMorgan, Bank of America, Wells Fargo & Co, Citigroup and Ally Financial Inc have been in talks with state attorneys general for months about settling allegations of foreclosure abuses.
The banks and states have been discussing a plan that would have the banks pay $25 billion to homeowners through reductions in principal on mortgage loans.
“I think it would be better for America if that settlement took place,” Dimon said. “If this thing derails that, so be it.”
(Reporting by David Henry; editing by John Wallace)
Mandleman matters wrote a hysterically funny piece on the election choices here: http://mandelman.ml-implode.com/2012/01/come-on-now-tell-the-truth-the-gop-doesnt-want-to-win-the-white-house-in-2012-right/
It seems to go along with your blog today.
We are all waiting to see some justice.
Bank of FUCKING the American people (pardon the Kings English) appears to now be outsourcing their “Home Retention” department. I received a double mailed letter just like BoA double mails their notices from a company named Quality Loan Service Corp.
http://www.qualityloan.com/
They have notified me that my home is now in the foreclosure process. It goes on to say; Bank of America N.A. who services your home loan has referred your loan to us for foreclosure on the above referenced property and has asked us to advise you that while the foreclosure is being commenced that options to stop the foreclosure may still be available to you. Bank of America N.A. is willing to evaluate whether alternatives are available to you even if you have not been previously evaluated or were previously evaluated but advised that no options were available.
In order to be considered for an evaluation you MUST obtain a solicitation package form Bank of America N.A. to be considered for available alternatives.
To obtain the required package and to be considered for possible alternatives you should contact Bank of America N.A. who can be reached by calling 800-669-6650.
Sincerely
Quality Loan Service Corp.
Quality Loan Service Corp, if you think I am going to let you screw me over on behalf of Bank of stealing the American dream, you are even more stupid and pathetic than BofA!
My response to Quality Loan Service is as follows; please click on the link below!
http://www.youtube.com/watch?feature=player_embedded&v=maG8G460bLk
Remember you heard it from me first.
PennyMac coming soon to a B of A foreclosure near you…..
http://www.nationalmortgagenews.com/dailybriefing/2010_477/pennymac-repo-deal-b-of-a-1027480-1.html?zkPrintable=true
Not only taking on B of A foreclosures, but their execs too. Talk about a sweetheart deal….but they call us the irresponsible borrowers!
We’d be doing a whole lot better if we qualified for breaking the law and getting away with it like they do.
As B of A reputation continues to nose dive, they will look to get rid of their dirty deeds by farming them out to companies like PennyMac, and Quality Loan Service, so that when they come to foreclose….the name of Bank of America will not be making the World Wide Web.
Don’t fall for it. Not only that, they don’t have the paperwork to sell your loan (which is securitized) anyway.
Well, thats it,
we finally see two signs of the end of the world. Romneys, the candidate, and even more importantly, John took two days off ……..
There goes the neighborhood!!
I agree 100% Renoira! Thanks!
I agree with you too CL! It wont be the same without John everyday but, he does deserve the time off after this very long haul already. I am more than certain we can pick up the slack on the weekends! I can talk shit about the banks and purchased politicians all day! LOL!
With Brotherly Love To You All and to you John!
JC
What a magnificently encouraging post. I needed that….again. Thanks for being brave for all of us! All we have to fear is fear itself.
I’ve seen these guys….like in Alice in Wonderland….they are just a bunch of “cards”!
Do not be fooled…even though Bank of America’s share price is up…it’s share volume is down by almost half. That means they are selling off something to keep their stock looking good.
After all, they have to pay their plethora of lawyers rather than dealing fairly with their customers.
money, money, money……
Praise to Attorney General EricSchneiderman!
For myself, I have been “granted” the 3 month trial modification. I am going along with it to see how it plays out but am still in fight mode. It seems to me that Fanny Mae and Freddy Mac are one of the other main culprits here.
Why aren’t they getting more negative attention?
Below is a cut and paste from Fannie Mae’s website. Of course the statements have no basis in reality(except for the statement regarding keeping the money flowing to mortgage lenders) as the best rate they are offering on my modification is 4.625% and raising my payment by $100 more than it already is (according to B of A).
Exerpt from website:
Fannie Mae is a government-sponsored enterprise chartered by Congress to keep money flowing to mortgage lenders, to help strengthen the U.S. housing and mortgage markets, and to support affordable homeownership. We are a national mortgage finance company, but we don’t offer home loans. We stand behind mortgage lenders – local and national banks, thrifts, credit unions, and other financial institutions in all 50 states – to securitize or buy the mortgage loans they originate, enabling them to replenish their funds so they can lend to other homeowners. Similarly, we work to keep funds flowing to support affordable rental housing.
We’re also focused on helping struggling families. By working with our partners, we’re helping families prevent foreclosure and keep their homes whenever possible. When foreclosure is unavoidable, we work to sell homes quickly at or near market value to people who will live in those homes. That helps to stabilize neighborhoods and home values.
Amazing! Does this mean that we do still have “Justice for All”? I am pinching myself and still having a hard time digesting this as reality.
I just might have to give Obama my vote……we shall see! It will be interesting to see how this plays out over the next few weeks and months.
Good Luck To Us All and God Bless America!
JC
Breaking New:
http://mandelman.ml-implode.com/2012/02/attorney-wins-free-house-in-case-before-9th-circuit-court-of-appeals-a-mandelman-matters-podcast/
Dear John:
Thank you for your timely updates, for continuing the good fight, and for inspiring us to keep fighting the fraudsters intent in taking away our American Dream, our Home.
I wanted to share with you that I’ve filled out a petition for President Obama at whitehouse.gov asking him to stop foreclosures and bring to justice the mortgage fraudsters. The link is https://wwws.whitehouse.gov/petitions/!/petition/prosecute-all-parties-responsible-mortgage-fraud-issue-mandate-so-we-keep-our-homes-wreasonable-loan/d48kzbQ1
I hope that you approve and deem this worthy of being mentioned in your blog, to your thousands of followers; it needs 25,000 signatures by March 08, 2012; and it must get 150 signatures ASAP so it can be publicly viewable on the Open Petitions section of “We the People” on their web site, so if you’d be so kind to lend your considerable muscle to this petition I’d greatly appreciate it. With your help it will succeed for sure, without it I’m doubtful it will.
Thanks so much, John, for all you do, you have been a Godsend to so many of us.
Your name is John Wright, and you and all of us are fighting back!
Hey John!
Here is a link to a story you’ll love! It seems someone has foreclosed on Bank Of Foreclosing on America! Their tower here in Atlanta was foreclosed on by their lender.
http://www.ajc.com/business/bank-of-america-plaza-1336921.html
Kathe,
I have put the petition on Facebook, Comments on Bank Of America Mortgage Modification Class Action Lawsuit, and Mandelman Matters.
Currently there are only two signatures. In order to come close to the 25,000 signatures by March 8 it is going to take a lot of work. Who else out there is willing to try to get the word out??????????
This is such an easy way for our voices to be heard so don’t just complain – Do something!
Susan & John:
Thanks so much to you: To John for posting the petition link here in his amazing blog, and to Susan for promoting it and her kind words of wisdom.
We need 150 signatures ASAP so the petition can be publicly viewable on the Open Petitions section of “We the People” on their web site, hopefully that will help us collect the 25,000 signatures before March 08.
There are way more than 25,000 of us defrauded homeowners with internet access, who should be willing to sign this petition, so, as Susan points out, our voices can be heard.
I’m actively promoting this myself, (twitter, email, etc.) so please, my fellow JohnWrighters, help get this petition out there where we can show that we’ve had enough of this widespread fraud and that we will not waver in our fight to rightfully keep our American Dream for us and our families. We are talking Homeowners’ Property Rights, by God’s sake. We are talking about our very own home and our very own lives, this is not like someone wants to steal our car or such, but instead they want to steal our very home.
Some people’s ideas (people in power), their idea of “help” is to make deals with the criminals who perpetrated this widespread fraud (a crime) absolving them of their responsibility and giving them a free ‘get out of jail’ pass. Yes, help indeed… for the banks and their accomplices, not for us.
One of their much touted about ideas is to have investors (such as BofA’s own buddy Pennymac) buy our homes for pennies on the dollar so that they can then rent them to US! Of all the nerve! It’s OK to sell our homes to them very cheap, but God forbid that we would get a reasonable and permanent loan modification, with fair market value. It doesn’t make any sense, unless the idea is to steal our homes to make some people even richer than they already are, and us poorer than we already are; and of course in the process they are trying to convert our country in a nation of renters, totally the opposite of what the American Dream is all about. John has been an inspiration, as well as all of you in here; I hope to God that we can get this off the ground and that it can be helpful to our plight.
We all are decent Americans and we are fighting back for our home property rights!
Hi Kathe,
I have already gotten one other signature today from a friend who successfully modified her loan but is sill very motivated and unhappy with the whole process. She knows others that she will email as well. This is a start.
Thanks so much, Susan, and to your friend as well.
Thanks again, John, you rock.
Feb 10, 2012 Approx 11:00 a.m.:
I received a call from Ron (Employee #A350B) at Fanny Mae. He confirmed that the permanent loan modification will be a 40 year fixed rate loan at 4.625%. He told me what that figure is based on (including delinquent payment status). Of course we already know about the delinquent payment scam.
According to Ron: B of A is the servicer (not a debt collector) for Fanny Mae. Fanny Mae backs the loan for the investors. Ah – so we are back to investors and the BIG question of who these investors are? Did they not get paid off already when CountryWide went belly up? Remember the loan was backed by Fanny Mae. So who is really trying to collect on the debt, the investors or Fanny Mae? AND since I was three months behind and my loan was securitized it was paid off again. Something is not making sense to me.
So now I must pay a higher interest rate than the current going interest rate AND at a 40 year (instead of 30 year fixed rate). Again – all I wanted was to modify out of the interest only loan and have slightly lower payments at a fixed rate conventional loan. Two years later I could be approaching a resolution though unsuitable by any means. An excellent example of banking and lending greed at it finest.
Kathe, Great idea the petition. Is anyone else having a hard time signing on and signing the petition ? I think this effort is most important but I cannot seem to navigate that site and I don’t want to twitter or fb until I’m sure it works.