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"

polycarp2
Joined:
Jul. 31, 2007 4:01 pm

Currently Chatting

Should public radio program in the public interest?

NPR is supposed to be our national public radio, but they're barely covering climate issues that are in the public's interest.

Only one month ago, a national New York Times/CBS News poll found that half of all Americans think that global warming is already having a serious impact. Sixty percent of those surveyed even said that protecting our environment should be a priority “even at the risk of curbing economic growth.”

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