Archive for November, 2011

We Want to Hear From You!

November 30, 2011 8 comments

We are collecting stories to share with our media contacts at ABC News. We want to hear about how your lender has treated you while in the process of a mortgage loan modification.

Has your lender treated you unfairly or unethically? Has your lender initiated foreclosure proceedings on your home while in the process of applying for a loan modification? Has your lender force place homeowners insurance on your home that has cost you more than what you would pay to obtain the insurance yourself? Have your mortgage payments been misapplied or just seem to have gone into a black hole? Are you being charged excess fees and interest while in the process of applying for a modification? Has your lender approved you for a modification only to tell you later that you’ve been declined? Has your lender initiated foreclosure on your home while you are active duty military?

Please reply in the comments section or email us at


Dual Tracking by Lenders is Unacceptable

November 28, 2011 2 comments

Your lender has finally responded to your many calls. You’ve sent your documents in repeatedly and finally have a dedicated person handling your case. But then, suddenly that person disappears. He won’t return your calls and you are in limbo again. Then you get a call from your lender, it’s a new representative asking if you’d like to apply for a loan modification. You explain that you’ve already applied and are waiting for approval. This rep can’t seem to find your documents and asks you to send them again. Oh, and by the way, since so much time has passed he will need everything you send to be updated.You call several times to check with him – has he received your documents? He tells you your file is incomplete, there are several documents missing.

This scenario happens too many times to count but each time you are contacted by a new representative it gives you hope that this may be the last one! But it never ends because it is by design to keep you in a maze.

In the meantime, even though they are giving you the impression that you are on track to receive a modification (as soon as they receive your missing paperwork) there is something else going on behind the scenes. It’s called dual tracking. While your stuck in the maze of lost paperwork and representative turnover the lender is advancing your home into foreclosure.

Call your senator, representative and attorney general’s office and demand that legislation be passed to prohibit lenders from starting the foreclosure process while a homeowner is in the process of a loan modification.

Become a News Source for American Public Media

November 26, 2011 1 comment

Over 100,000 people have signed up to be a source for Public Insight Network through American Public Media. American Public Media connects journalists by reaching out to knowledgeable citizens about stories they are covering. It’s easy to sign up to become a source for Public Insight Network and many other news outlets.

Bank of America Settles Illegal Military Foreclosure Lawsuit

November 25, 2011 1 comment

Violating the SCRA is a criminal offense, but since Bank of America admitted no wrongdoing, charges have not been filed against them. Since when is a bank allowed to police itself?

Read the article HERE.

Progressive Change Campaign – Tell Your Foreclosure Crisis Story

November 24, 2011 2 comments

Has the foreclosure crisis affected you? Bold Progressive Change Campaign wants to hear your story.

Did your bank inhibit you from trying to save you home? Did they claim you didn’t send in the proper documentation or repeatedly lose your paperwork? Did they foreclose on your home (or try to) while you were in the process of applying for a loan modification?

It’s time for American politicians to hold the banks accountable. They have ignored this crisis for far too long.

Follow this link to share your story.

Have You Been Hurt by Unfair and Illegal Practices by Your Lender?

November 18, 2011 1 comment

California lawmakers do not want the Attorney Generals to give the banks a “Get out of jail free card”.

The lawmakers wrote in support of Harris’ efforts to ensure that a settlement being negotiated between states and large banks over mortgage abuses provides substantial relief to California homeowners. Reports suggest that the settlement under discussion would provide just $20 billion to $25 billion in relief to homeowners, despite the fact that underwater homeowners nationwide owe $700 billion more on their mortgages than their homes are worth.

From the letter, “It is clear that thousands of Californians have been hurt by unfair and, in many cases, illegal practices in the foreclosure process. For this reason, we feel that it is critical that any settlement regarding these abuses must be fair to California homeowners. In particular, we believe that a deal must be structured to provide substantial financial relief for these homeowners…

“Additionally, we do not feel that it is responsible to grant a broad release of liability for abuses that have not been investigated by the attorneys general and are not remedied in the settlement. Our constituents need to know that our nation’s largest financial institutions have the same mandate to follow the law that they do—in other words, the simple fact of being an enormous Wall Street bank cannot mean getting a get-out-of-jail free card.”

Miller said his constituents are fed up. “Wall Street banks have chewed up homeowners all over the country, with no regard for the law or for what’s right. This is not an every once in a while story – it is an everyday story. Every day we hear how banks lose paperwork or charge ridiculous fees or give homeowners wrong information about a modification. This is abuse. Pure and simple. And it has been at every stage of the mortgage process. We need to provide justice to these homeowners.”

Read the rest of the story:

Are You in Foreclosure? Mortgage Modification Nightmare?

November 15, 2011 2 comments

Is your mortgage servicer giving you the run around? Lost paperwork, calls dropped or not being returned? Are you the victim of mortgage fraud? Have you been in a trial modification for more than 3 months?

We want to hear your story. You can reply in the comments section of this post or email .