Bank of America Corp., which acquired Countrywide Financial Corp., is being sued for unfair competition and unfair trade practices for violating consumers rights in a lawsuit filed in the Los Angeles complex litigation department in the tune of $500,000,000. The case is Paul Ronald et. al. v. Bank of America Corporation et. al. case number BC409444.
The California legislature passed Senate Bill 1137 (known as Code of Civil Procedure, Section 2923.5) on July 8, 2008 to force and compel lenders and their agents, trustees and beneficiaries – with respect to all residential home loans made to California consumers between January 1, 2003 to December 31, 2007, to proceed with a series of detailed steps to avoid foreclosure prior to filing a Notice of Default and taking consumers property. Additionally, the federal government offered stimulus money to each lender to help with the foreclosure crisis.
It is alleged in the lawsuit that Bank of America/Countrywide did not and does not want to carry out the intent of the California legislature and the federal government. For example, in an amazing instance, Bank of America/Countrywide has caused to be filed a Notice of Default against a consumer who did not miss any payments justifying the issuance of any default notification whatsoever.
Additionally, thousands of consumers were told by Bank of America/Countrywide employees and/or agents that they will all have to “wait” in order to be allowed to modify their loans. Bank of America/Countrywide further represented to consumers that they would not be penalized for failing to make mortgage payments or any property-related payments, and indeed, told the consumers that it is beneficial for consumers to fall further behind in their payments because that will “make it easier” to modify the unreasonable adjustable loans. Instead, the moment that consumers fell three months or more in arrears (as ordered by the bank) the bank immediately began foreclosure proceedings by filing notice of defaults and backing consumers into a corner with zero options and at the mercy of the lender.
The lawsuit further alleges that Bank of America/Countrywide directly and intentionally harmed the credit rating of consumers and otherwise engaged in wrongful behavior designed to take from California consumers their property, their credit rating and their dignity.
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The allegations are entirely true. The reason Bank of America plays the delay game the way they do is so they can get what they want in their lawsuits against borrowers (like me). Most states refer to it as perjury and outright fraud. Bank of America deceptively knows exactly how they are playing their game of fraud, where officers are using employees to relay their fraud. All persons involved should be guilty of complicity.
Bank of America Corp., which acquired Countrywide Financial Corp., is being sued for unfair competition and unfair trade practices for violating consumers rights in a lawsuit filed in the Los Angeles complex litigation department in the tune of $500,000,000. The case is Paul Ronald et. al. v. Bank of America Corporation et. al. case number BC409444.
The California legislature passed Senate Bill 1137 (known as Code of Civil Procedure, Section 2923.5) on July 8, 2008 to force and compel lenders and their agents, trustees and beneficiaries – with respect to all residential home loans made to California consumers between January 1, 2003 to December 31, 2007, to proceed with a series of detailed steps to avoid foreclosure prior to filing a Notice of Default and taking consumers property. Additionally, the federal government offered stimulus money to each lender to help with the foreclosure crisis.
It is alleged in the lawsuit that Bank of America/Countrywide did not and does not want to carry out the intent of the California legislature and the federal government. For example, in an amazing instance, Bank of America/Countrywide has caused to be filed a Notice of Default against a consumer who did not miss any payments justifying the issuance of any default notification whatsoever.
Additionally, thousands of consumers were told by Bank of America/Countrywide employees and/or agents that they will all have to “wait” in order to be allowed to modify their loans. Bank of America/Countrywide further represented to consumers that they would not be penalized for failing to make mortgage payments or any property-related payments, and indeed, told the consumers that it is beneficial for consumers to fall further behind in their payments because that will “make it easier” to modify the unreasonable adjustable loans. Instead, the moment that consumers fell three months or more in arrears (as ordered by the bank) the bank immediately began foreclosure proceedings by filing notice of defaults and backing consumers into a corner with zero options and at the mercy of the lender.
The lawsuit further alleges that Bank of America/Countrywide directly and intentionally harmed the credit rating of consumers and otherwise engaged in wrongful behavior designed to take from California consumers their property, their credit rating and their dignity.
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_________________ Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
That one looks like a slam dunk because that is exactly how BofA has handled it all over the country
_________________ "Since the general civilization of mankind, I believe there are more instances of the abridgement of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations." - James Madison - 1788
syntheticheroin Nitroglycerin
Joined: 05 Mar 2007
Posts: 645
Location: Lake of the Ozarks
.. the envelope please - and the award goes to (drumroll) THE BANKING COMMUNITY .., for introducing us all to whole new brand of misery we never dreamed possible BIG ROUND OF APPLAUSE.
yes. just talking to these types violates the sensibilities so deeply it's embarrassing. lacking moxy/salt operating in that fundamentally misleading modus operandi beyond - spewing about stacks of bull***t rules nobody in their right mind could possibly believe.
I can't get over it.
I'd like to - but I just can't.
_________________ Rule Numero Uno: Don't Kill Yourself, Kill Somebody Else.
Listened to a couple of your youtube phone conversations with various banks and collectors. Dude...If it were me, and I were that incoherent, I would not be posting phone conversations on the internet to prove it.
The only proof in those videos is that you have no idea what you're talking about, and can't provide any facts. Did you ask their permission to record and post those private conversations? Apparently you didn't read all the telecommunications laws.
Listened to a couple of your youtube phone conversations with various banks and collectors. Dude...If it were me, and I were that incoherent, I would not be posting phone conversations on the internet to prove it.
The only proof in those videos is that you have no idea what you're talking about, and can't provide any facts. Did you ask their permission to record and post those private conversations? Apparently you didn't read all the telecommunications laws.
Help is needed here but it's not legal assistance...
_________________ "You can't make chicken soup out of chicken chit"
CAN WE HAVE THE OTHER 49 STATES COME TO THE PARTY TOO?
Answer:
Most states are too broke to even be able to pay for their own employees. Let's not forget about how hesitant states are already with regard to protecting consumers. But the consumers are getting needed attention.
Thanks,
Jason
_________________ Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
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