B of A Customers Deadbeats?

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Bank of America (BAC) has a crummy record of helping homeowners revise their mortgages, which would help stem the tide of foreclosures sweeping across the U.S. Of the company’s roughly 158,000 customers who have started a “trial modification” under the federal Home Affordable Modification Program, only 58 have been able to get their mortgages permanently changed.

Why the microscopic batting average? Here’s B of A’s alibi: It’s got crummy customers. The company says that more of its borrowers are ineligible for HAMP than other banks’ clientele. Another excuse is that many B of A customers are no good at paperwork.

Hah, hah! Pretty ironic, don't ya think?

Of course, if so many B of A patrons are feckless deadbeats, it raises the question of how they got a loan in the first place. But never mind all that — logic should never interfere with the buck being passed. = Susie Madrak

http://crooksandliars.com/

Retired Monk - "Ideology is a disease"

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The Death of the Middle Class was by Design...

Even in the face of the so-called Recovery, poverty and inequality are getting worse in our country, and more wealth and power is flowing straight to the top. According to Paul Buchheit over at Alternet, this is the end result of winner-take-all capitalism, and this destruction of the working class has all been by design.

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