Looks like Bank of america BOA is selling/ transfering my loan to Bank of America WTF?

I dont have the letter in front of me but it pretty much says that my mortgage is being transferred or sold from bank of america (initials i cant remember) to another banks of america ( another initials i cant remember)... the think i see happening is that i got a letter saying that i have 30 days to dispute this debt.. and for what i have been able to gather with all these forums.. Bank of america Cant prove they own my mortgage.. so i was thinking on disputing the debt... It might not work but it might get these Aholes in bank of america to freaking call me back!!!.. i was talking to the office of the president and they haven't called me back in 7 months.. they totally ignore my calls and messages.. and everyone below them say they cant talk to me about my loan and transfer me to the Office of the President.. ARGG

let me know what you guys think

Letter to Congresswoman Kosmas

December 10, 2010

Dear Congresswoman Kosmas

Hello my name is ####### and I'm one of your constituents in the city of Orlando, Florida. This is my 1st time contacting you but I'm sure you have heard from thousands just like me. I was a victim of predatory and deceptive lending by Countrywide- the same Countrywide responsible for the housing collapse and for hundreds of thousands of predatory loans. Their predatory techniques were proven by the FL attorney General in a lawsuit in 2008. However, even after their predatory practices were exposed they still refuse to help homeowners stay in their houses. (I've attached a copy of the lawsuit in my letter)(or got click HERE)

I’m contacting you to inform you about my case and ask for your help. My bank refuses to modify my loan and will not help me stay in my my home. I’m only asking for lower interest and affordable payments. However, such demands seem to be too much for the bank and they would rather foreclose on my Condo. I’m desperate and i will appreciate any help you can give me.

Bank of America has received billions of tax payer dollars to help people like me modify their mortgage and help them stay in their home. Modifying mortgages and allowing people to stay in their house with affordable payments is the only way to stabilize the economy. However, unlike their press conferences claim, they are just taking taxpayer dollars and throwing us out in the streets.

I've paid about 75,000 in 4.5 years for both of my mortgages and have drained all my savings in the process. I’m no deadbeat as the media and banks are trying to portray people like me. I paid for years an inflated loan amount and interest for my property but I can’t afford it anymore. I was unemployed for a while and i can’t rent out my extra room like i used to. I’ve tried to do the right thing and refinance into a lower interest loan when my Condo was worth it. However, the bank denied me on the basis of low income (which was higher than my stated loan). Now my Condo is worth ⅓ of it’s original value so refinancing is not an option.

I have been trying for months to get a modification and now I've been told I make too much! My interest is about 9% on my 1st and 11% on my 2nd mortgage and my combined payments are about $1,900 a month. I tried for months to get a modification on my own but i found my self blocked by the phone bank maze systematically placed by Bank of America. Such maze in my opinion is set up to prevent people from getting modifications.

I found out about the predatory lending lawsuit by Attorney General and I contacted his office for help. Because I fell under this category, his office was able to escalate my case all the way to the office of the president of Bank of America.
After almost 7 months I was able to obtain two modification offers from Bank of America but none of these two offers lower my interest nor lower my payments (as you can see in the copy attached to this letter)(or got click HERE). Leaving my interest at 8.5% and payments actually go UP. To add insult to the injury not only they want to charge me thousands in fees disguised as interest, leaving the new loan amount higher than my original loan amount! In their modification papers they also managed to include a paragraph which would take my court rights away. I highlighted the paragraph where a legal advisor from the AG office says i would be giving up my right to fight the bank and have them prof they own my loan note.

Because I refused to sign away my rights and take their loan modification, I received a letter today that my request for workout was canceled “due to non compliance”. I will probably face foreclosure soon and i will be out in the street for the holidays. I wish I was a freak accident but as you know there are thousands just like me all over the state of Florida. Their so called “modification” does nothing to make their predatory loans any more affordable. You wonder why so many HAMP modifications don’t work out? Here is your answer. “Low ball” modifications are prevalent with banks receiving billions of tax dollars. However, their “low ball” offers have people having to pick between the streets and another predatory loan. Such response from the banks in the time when consumers are most vulnerable is despicable and I hope your office helps me with my bank. The people I was working with stopped answering their phone and stopped calling me back months ago. If you could please contact them and ask them to please return my calls or at least pick up the phone, I would really appreciate it. Here is their contact info:

Office of the President
Customer Advocate
Camille Maris
(###)###-####

Customer Relations Executive
Brandon Ruk
###)###-####

Home Retention Division
Cindy Carranza
###)###-#### ext 3794


All I'm asking is for an affordable payment on my Condo with a reasonable interest. That’s the least they could do for a victim of their predatory lending and predatory loan practices. Please help!

Sincerely

##########
###)###-####
### ########
Orlando FL ####

Loan# 1###74

Offer Letters and AG countrywide Lawsuit

Attorney General Bill McCollum News Release
July 1, 2008
Media Contact: Sandi Copes
Phone: (850) 245-0150
Florida Attorney General Files Lawsuit Against Countrywide Financial
~ Lawsuit alleges deceptive marketing of loans to boost company profits ~
TALLAHASSEE, FL – Attorney General Bill McCollum today announced that his office has
filed a lawsuit against Countrywide Financial, one of the nation’s largest mortgage
companies, for allegedly engaging in deceptive and unfair trade practices. The Attorney
General’s lawsuit claims Countrywide put borrowers into mortgages they couldn't afford
or loans with rates and penalties that were misleading. Chief Executive Angelo Mozilo was
also named in the lawsuit.
“It is unthinkable that a company would try to take advantage of someone’s dream of
homeownership,” said Attorney General McCollum. “Florida homeowners who are trying
to protect their homes from foreclosures shouldn’t have to worry about their mortgage
brokers or lenders unfairly profiting at their expense.”
Similar to other mortgage lenders, Countrywide attempted to generate large numbers of
mortgage loans for resale on the secondary mortgage market. In doing so, the company
purportedly originated loans with little concern about whether the borrower could afford
and maintain payments on these loans. In the process, the company allegedly eased or
ignored its own underwriting standards and encouraged borrowers to enter into “teaser”
rates while concealing or misrepresenting that much larger payments would become due.
“Our legal services programs throughout the state have seen a large number of clients
who are now in default on mortgages written by Countrywide. It appears to us
Countrywide did no due diligence and accepted applications which were patently
fraudulent and reflected no ability on the part of the borrowers to make the required
payments,” said Marc Taps with Legal Services of North Florida. “We cannot help but
conclude that the most financially unsophisticated segment of the population was
targeted by the brokers who knew Countrywide would write these mortgages.”
The lawsuit also claims Countrywide hid any potentially negative effects of these “teaser”
loans, including rising rates, prepayment penalties and negative amortization, which
borrowers would inevitably face if they were making minimum payments or trying to
refinance. Traditionally, lenders require borrowers to document income and assets, but
investigators with the Attorney General’s Office believe Countrywide offered reduced or
no documentation loan programs to increase its loan sales. Countrywide also allegedly
paid greater compensation to brokers for loans with higher interest rates and prepayment
penalties because it could sell those loans for higher prices on the secondary market.
The company’s deceptive marketing practices were supposedly designed to sell costly
loans while hiding or misrepresenting the terms and dangers. Countrywide’s deceptive
sales practices resulted in a large number of loans ending in default and foreclosure, with
the company reporting earlier this year that more than 25 percent of its subprime loans
were delinquent. The Attorney General’s Office received more than 150 complaints about
Countrywide, prompting a subpoena in February and ultimately leading to today’s lawsuit.
Consumers who believe they have been victimized by Countrywide should call the
Attorney General’s fraud hotline at 1-866-966-7226 or may file a complaint online at:
http://myfloridalegal.com.
A copy of the lawsuit, filed last night in Broward County Circuit Court, is available online
at: http://myfloridalegal.com/webfiles.nsf/WF/MRAY-
7G5G7L/$file/CountrywideComplaint.pdf.





i blacked out my info...

Attorney General's Lawsuit against Predatory Lending Countrywide

Attorney General Bill McCollum News Release
July 1, 2008
Media Contact: Sandi Copes
Phone: (850) 245-0150
Florida Attorney General Files Lawsuit Against Countrywide Financial
~ Lawsuit alleges deceptive marketing of loans to boost company profits ~
TALLAHASSEE, FL – Attorney General Bill McCollum today announced that his office has
filed a lawsuit against Countrywide Financial, one of the nation’s largest mortgage
companies, for allegedly engaging in deceptive and unfair trade practices. The Attorney
General’s lawsuit claims Countrywide put borrowers into mortgages they couldn't afford
or loans with rates and penalties that were misleading. Chief Executive Angelo Mozilo was
also named in the lawsuit.
“It is unthinkable that a company would try to take advantage of someone’s dream of
homeownership,” said Attorney General McCollum. “Florida homeowners who are trying
to protect their homes from foreclosures shouldn’t have to worry about their mortgage
brokers or lenders unfairly profiting at their expense.”
Similar to other mortgage lenders, Countrywide attempted to generate large numbers of
mortgage loans for resale on the secondary mortgage market. In doing so, the company
purportedly originated loans with little concern about whether the borrower could afford
and maintain payments on these loans. In the process, the company allegedly eased or
ignored its own underwriting standards and encouraged borrowers to enter into “teaser”
rates while concealing or misrepresenting that much larger payments would become due.
“Our legal services programs throughout the state have seen a large number of clients
who are now in default on mortgages written by Countrywide. It appears to us
Countrywide did no due diligence and accepted applications which were patently
fraudulent and reflected no ability on the part of the borrowers to make the required
payments,” said Marc Taps with Legal Services of North Florida. “We cannot help but
conclude that the most financially unsophisticated segment of the population was
targeted by the brokers who knew Countrywide would write these mortgages.”
The lawsuit also claims Countrywide hid any potentially negative effects of these “teaser”
loans, including rising rates, prepayment penalties and negative amortization, which
borrowers would inevitably face if they were making minimum payments or trying to
refinance. Traditionally, lenders require borrowers to document income and assets, but
investigators with the Attorney General’s Office believe Countrywide offered reduced or
no documentation loan programs to increase its loan sales. Countrywide also allegedly
paid greater compensation to brokers for loans with higher interest rates and prepayment
penalties because it could sell those loans for higher prices on the secondary market.
The company’s deceptive marketing practices were supposedly designed to sell costly
loans while hiding or misrepresenting the terms and dangers. Countrywide’s deceptive
sales practices resulted in a large number of loans ending in default and foreclosure, with
the company reporting earlier this year that more than 25 percent of its subprime loans
were delinquent. The Attorney General’s Office received more than 150 complaints about
Countrywide, prompting a subpoena in February and ultimately leading to today’s lawsuit.
Consumers who believe they have been victimized by Countrywide should call the
Attorney General’s fraud hotline at 1-866-966-7226 or may file a complaint online at:
http://myfloridalegal.com.
A copy of the lawsuit, filed last night in Broward County Circuit Court, is available online
at: http://myfloridalegal.com/webfiles.nsf/WF/MRAY-
7G5G7L/$file/CountrywideComplaint.pdf

Modification Offer Just Another Predatory Loan

After trying everything.. After getting escalated all the way to the office of the President of BoA ... all thanks to Fl's Attorney General... I finally received a modification offer!!!... yay right? nope no so fast.. The offer actually raises my payments and my Loan amount to a higher amount than 4.5 YEARS AGO!!!

I marked it up for you guys.. Despite the fact it might appear a bit funny.. is not... hopefully this image goes viral.. hope my senators, representatives, Attorney General get my emails.. and hopefully someone help me get a modification ... because i want to stay in my house!!!

I'm using this blog to save and load files i'm sending on emails