PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ?

[ama125]

THANKS2U...this one's for you!
ForexHound.com the Forex Portal: Watch Your Wallet - the Countrywide Team (ex Mozilo) is Back

[THANKS2U]

BANK OF AMERICA $25,000 AUTO DENY DECLINE RULE FOR MODIFICATIONS

Thank you Medora for letting us know that B of A will reject and deny any modification automatically if the borrower has not made mortgage payments which amount to 25,000 or above and that the borrowers must give "up front funds" to reduce the amount due to BELOW 25,000, in order to get any type of modification offer -

So basically I assume a borrowers can offer about a one month, good faith payment, or whatever amount it takes to just barely get below the 25,000 + past due threshold, in order to be considered for a mod and NOT automatically rejected and declined.

Nice BIG secret that B of A does not usually share and I wonder if they TRUTHFULLY / CAN LEGALLY EVEN DO THAT UNDER HAMP ETC...

I am sure there are many who have not paid for 1 year or more and are 50,000 in arrears, but somehow even some of these far overdue borrowers get Modifications, with NO UP FRONT FEES

So I wonder how much of a SCAM the 25,000 made up rule by Bank of America will hold water LEGALLY !!!!

[SillyWorld]

So if they are at 25,000.00 I would send one penny to make it 24,999.99

[THANKS2U]

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


THANKS2U...this one's for you!

ForexHound.com the Forex Portal: Watch Your Wallet - the Countrywide Team (ex Mozilo) is Back

ema125 AMAZING - Thanks

STAN / STANFORD KURLAND and the rest of his ( CELL ) are criminals !

These guys are all terrorists as far as I am concerned....

They should all be forced to set up a business that helps borrowers remain in their homes, as atonemnet for their illegal sins..

But instead they are doing it all over again - Screwing over the borrowers the most -

First they beat the crap out of borrowers, until we fall down and with PennyMac and the rest of their criminal, racketeering businesses, they will Kick us when we are down and toss us into mass graves

You know, these guys plotted / premeditatively planned all this to a T - as in Kurlands, $200,000 + in golf club fees he charged to Countrywide investors. All calculated and easily planned

It was easy for these guys to see that by doing ABC would eventually equal XYZ for them..

I am sure the Plans for PennyMac were in the works since 2004 !

Something should be done to STOP them and all others who are trying to cash in on others suffering..

Sadly, I do not know what

Thank you for posting such a revealing article Ama125

Appreciatively,

Thanks2U


__________________________________________________ __________________________________________________ ____________________

[THANKS2U]

Originally Posted by Melanie702

Just a quote from the article :

.


He also says there is money to be made from foreclosures by third parties. "These loans are being bought for 20 cents on the dollar. A $400,000 loan is costing you $80,000. You can foreclose on that at $150,000 and make money," he said.

.


GREAT ARTICLE, INFO AND QUOTE

It just keeps getting crazier and crazier for us bamboozled & defrauded borrowers, who are enduring inflicted hardships, primarily brought on by the banks and other swindling greed creditors ... -

Thank you for the article Melanie



.

[THANKS2U]

Here is what Obama had to say to the banks: Not surprisingly look who made first place


Obama tries to shame banks into speeding up mortgage modifications

Lita Epstein
Aug 4th 2009 at 11:20AM
Text SizeAAA

Filed under: Company News
More



As banks continue to drag their feet on mortgage modifications, the Obama administration put out a list of problem banks to shame them into action. Bank of America (BAC) topped the list as one of the worst performers among large mortgage servicers.

Since the $75 billion dollar program started in March, only four percent of Bank of America's eligible loans have entered trial loan modifications.

The report released today looks at the levels of homeowner assistance for 31 companies participating in Obama's plan. Generally the report found that the smaller loan servicers were more successful in getting trial modifications started.

Obama hoped to help four million borrowers with his loan modification program, but so far only about 200,000 have been helped. After a meeting in DC last week, the loan servicers agreed to at target of 500,000 by November 1. But that's still too slow when 1.5 million homeowners received at least one foreclosure-related notice in the first six months of 2009.


Under the Obama plan banks can lengthen repayment terms, lower interest rates to as low as two percent and forbear outstanding principal. They are permitted to use other tools as well to help to keep people in their homes.

There have been so many complaints about the banks and how they've been handling the loan modification process that Freddie Mac will be doing random audits to see if borrowers are being improperly denied.

Have you been denied a loan modification?

Lita Epstein has written more than 25 books
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THANK YOU ! Great articles

Could you post the August 4 09 Lita Epstein links again.

The 2 top Links posted above as LITA EPSTEIN & Company News / AA size will not connect to anything, at least now there is no connection to anything

Appreciatively,

THANKS2U

[luvmyhorse]

Does anyone know what that 25000 means? Does that mean you have to have paid 25,000 in interest, or in principal? I didn't get that front end back end stuff, can anyone explain?

[Evan Bedard]

Thank2you and Ama125,

Great readings and information for all thank you guys for taking your time to help others

[ama125]

Originally Posted by Evan Bedard

Thank2you and Ama125,

Great readings and information for all thank you guys for taking your time to help others

Just "paying it forward"! Can we please have a sticky on this? Every time I want to post new info, I have to scroll through to find the thread. This would also help curb people posting the same info on separate threads (though I am pleased to see that I'm not the only way reading the headlines).

[ama125]

If someone's already posted something pertaining to an article, etc, I will start posting links to that thread... http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/14054-50-all-mortages-will-underwater-2011-a.html#post109799

[THANKS2U]

Here is an article post, from another member, regarding Homes being underwater / upsidedown in the year 2011.

About half of U.S. mortgages seen underwater by 2011 - Yahoo! News

[ama125]

So, Fannie Mae is requesting more bailout funds... Fannie Mae needs another $10.7B in federal aid - Aug. 6, 2009

Does this increase one's chance for a modification? Wouldn't more money coming in NOW be better than incurring the cost of foreclosure AND hoping to sell that property months (or years) down the road?

[THANKS2U]

Originally Posted by ama125

So, Fannie Mae is requesting more bailout funds... Fannie Mae needs another $10.7B in federal aid - Aug. 6, 2009

Does this increase one's chance for a modification? Wouldn't more money coming in NOW be better than incurring the cost of foreclosure AND hoping to sell that property months (or years) down the road?

Fannie Mae has not received the 10 Billion yet - But if they do receive the 10 + Billion or whatever amount they get, let us hope the regulators FORCE Fannie Mae to get their rears in gear and start giving FAST VIABLE loan modifications, with NO HASSLES -

Thanks again ama125 - Hope all goes well with your Mod

Is "our" thread a STICKY YET ????????????? !!!!!!!!!!!!!!!!!!!!

[SillyWorld]

Originally Posted by luvmyhorse

Does anyone know what that 25000 means? Does that mean you have to have paid 25,000 in interest, or in principal? I didn't get that front end back end stuff, can anyone explain?

It means if you are 25,000.00 in back payment to the bank forget about any MOD at $2000.00 a month if you were 13 months behind that would be 26,000.00 in the hole your out (on the street at that)

[SillyWorld]

Originally Posted by ama125

So, Fannie Mae is requesting more bailout funds... Fannie Mae needs another $10.7B in federal aid - Aug. 6, 2009

Does this increase one's chance for a modification? Wouldn't more money coming in NOW be better than incurring the cost of foreclosure AND hoping to sell that property months (or years) down the road?

They only need more cash because it is getting close to Holidays they need Bonus and Gift money for there employees

[hope67]

I think this is a very useful site (Fannie Mae) I'm not sure if it was posted already!

https://www.efanniemae.com/sf/servic...tfactsheet.pdf

[THANKS2U]

[quote=hope67;110204]I think this is a very useful site (Fannie Mae) I'm not sure if it was posted already!

https://www.efanniemae.com/sf/servic...tfactsheet.pdf


SUPER INFO ! - Thank you so much Hope67

I have NEVER seen this current fact sheet from Fannie Mae -

This is the Truthful Information we all need to know and have on file to protect ourselves and be our own advocates.

Appreciatively, THANKS2U

[pdsfoley]

THanks2u, Thought I would post this here since reading your posts...found out night before last NACA sent emails to BAC employees advertising for jobs...heres the KICKER....they are setting up space in the BAC building!! HOW DOES THAT WORK???!!!

[CW California]

Originally Posted by SillyWorld

They only need more cash because it is getting close to Holidays they need Bonus and Gift money for there employees

Plus money for seminars at those top resorts.

[THANKS2U]

Originally Posted by pdsfoley

THanks2u, Thought I would post this here since reading your posts...found out night before last NACA sent emails to BAC employees advertising for jobs...heres the KICKER....they are setting up space in the BAC building!! HOW DOES THAT WORK???!!!

================================================== ================================================== ================================================== =========
pdsfoley

It does not work and is clearly an illegal conflict of interest, in my opinion.

Do you have any actual articles or advertising of the NACA jobs being offered to BAC / Bank of America employees ?

If so, please post them here for all to see.

I spoke of this possible travesty happening in secret, but now it appears NACA will do it above board, in order to appear as though they are NOT hiding anything and that it is pefectly fine to have the money thieves, watch over the money vaults...

This is reverse psychology criminal activity at its worst...

Once again, please post any Articles or advertisements, showing NACA employee recruiters and or NACA offices are being set up at which BAC banks, etc

Thank you for your info






================================================== ================================================== ================================================== ======================

[Melanie702]

Anyone hear about the new FHA-HAMP?
Making Home Affordable - HUD Secretary Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines

I'm kinda goofy sometimes and miss posts. I have an FHA, let's see what BofA can do.

[SillyWorld]

Originally Posted by Melanie702

Anyone hear about the new FHA-HAMP?
Making Home Affordable - HUD Secretary Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines

I'm kinda goofy sometimes and miss posts. I have an FHA, let's see what BofA can do.

Yes its been all over the posts in the last week

[Melanie702]

LOL I know, I went back to the previous pages...DUH!

[ama125]

I've posted the credit reporting guidelines already, but here is an article about it:
Credit Reporting Industry?s Decision on Loan Modifications Boxes in Consumers - On the Money - Home & Real Estate - CNBC.com

[luvmyhorse]

I DON'T TRUST NACA! Everyone here is bragging about them, but they seem like another opportunistic vulture, and now they are moving in with BOA. The proof is in the eating of the pudding!

And of course they will slam all our credit.... they benifit from it. They can raise your interest rates and make a crapload more money on the backend, even though they are "helping" on the front..... and OBAMA is giving them carte blanche to do so!

I voted for him, but now I wonder if I was scammed again!