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time2pay
Dud?


Joined: 14 Aug 2009
Posts: 1

BANK of AMERICA being sued in CA with federal allegations
PostPosted: Fri Aug 14, 2009 8:33 pm Reply with quoteBack to top

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.
[/b]
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jwerner
C-4


Joined: 20 Jul 2008
Posts: 1140
Location: Cleveland, OH

Re: BANK of AMERICA being sued in CA with federal allegation
PostPosted: Sat Aug 15, 2009 12:13 am Reply with quoteBack to top

Proof:
http://www.youtube.com/profile.....iew=videos

To All,

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.

More information from me:
http://jasonwerner79.blogspot......-bank.html

Thanks,
Jason

time2pay wrote:
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.
[/b]

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Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
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title_gal
Demolition Man


Joined: 13 Dec 2007
Posts: 2417

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Sat Aug 15, 2009 12:19 pm Reply with quoteBack to top

That one looks like a slam dunk because that is exactly how BofA has handled it all over the country

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"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
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syntheticheroin
Nitroglycerin


Joined: 05 Mar 2007
Posts: 646
Location: Lake of the Ozarks

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Sat Aug 15, 2009 1:25 pm Reply with quoteBack to top

.. 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.

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Rule Numero Uno: Don't Kill Yourself, Kill Somebody Else.
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rocketrob
Dyn-o-mite!


Joined: 18 Mar 2008
Posts: 405

Banks could have just said "NO."
PostPosted: Sat Aug 15, 2009 6:52 pm Reply with quoteBack to top

To all the jerks who blame this on the consumer... burn in h**l.

The banks violated all rules and law to approve millions of loans that were otherwise illegal.

The banksters could have just said "NO!"
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ArizonaLO
Dud?


Joined: 04 Jul 2009
Posts: 3

Re: Banks could have just said "NO."
PostPosted: Sun Aug 16, 2009 2:04 am Reply with quoteBack to top

rocketrob wrote:
To all the jerks who blame this on the consumer... burn in h**l.

The banks violated all rules and law to approve millions of loans that were otherwise illegal.

The banksters could have just said "NO!"


They say no now and then there is a new thread about them being too strict on conditions.
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MortgageDrummer
Dyn-o-mite!


Joined: 19 Nov 2008
Posts: 310

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Sun Aug 16, 2009 2:06 am Reply with quoteBack to top

CAN WE HAVE THE OTHER 49 STATES COME TO THE PARTY TOO?
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mattfoley
Dud?


Joined: 23 Dec 2008
Posts: 20

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Sun Aug 16, 2009 2:48 am Reply with quoteBack to top

Jwerner,

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.
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itiswhatitis
Dyn-o-mite!


Joined: 19 Jul 2008
Posts: 312
Location: Raleigh, NC

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Sun Aug 16, 2009 1:47 pm Reply with quoteBack to top

mattfoley wrote:
Jwerner,

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...

Smile

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jwerner
C-4


Joined: 20 Jul 2008
Posts: 1140
Location: Cleveland, OH

Re: BANK of AMERICA being sued in CA with federal allegations
PostPosted: Mon Aug 17, 2009 9:39 pm Reply with quoteBack to top

MortgageDrummer wrote:
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

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Woe unto them that decree unrighteous decres, and that write grievousness which they have prescribed;
Isaiah 10:1
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