Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

MEDA Celebrates Various Achievements In The San Francisco Community

Last week MEDA held a festive 39th Anniversary party at the City Club of San Francisco celebrating 39 Years of Creating Economic Opportunity for Latino Families. The event included time to honor important figures in the community including Mercedes Marquez (see photo) Los Angeles Deputy Mayor for Housing and  San Francisco District 11 Supervisor John Avalos.

One of the numerous achievements and festivities that occurred during the night included one of their hard working foreclosure prevention counselors who proudly announced that one of her clients received not only a real loan modification (by that we mean not a trial mod or one that would only end up as a re-default) from Bank of America but a principle reduction as well. We consider getting a principle reduction for a client on any loan mod an achievement.

After listening to some mariachi tunes, a couple of us went to discuss with the counselor how she managed to get a principle reduction for a client, especially considering that the banks have said that loan mods in general remain a low priority.

Loan Modulations That Include Principle Reductions From Bank Of America

She said that essentially as part of an agreement with the federal government that Bank of America needed to offer principle reduction to a certain amount of homeowners. She said that Bank of America must pay a certain sum in principle reductions. So, in other words B of A was forced to offer this principle reduction.

The counselor also mentioned that Bank of America had almost paid off their principle reduction commitments so do not expect many (if any) principle reductions from B of A (or any other bank) soon.

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

Bank Of America Principle Reductions On Loan Modifications

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3 Comments

Filed under Banks, Loan Modifications, San Francisco

3 responses to “Bank Of America Principle Reductions On Loan Modifications

  1. Zion

    1. Why did Countrywide change my 5.75% mortgage loan, I Locked-in at, to 6.25% right before signing escrow, without discussing it with me 72 hours prior as loan documents states must be done?
    2. Why did Countrywide tell me I couldn’t afford the cheaper loan and that they thought they told us prior already, when I called during signing?
    3. Why did Countrywide change my loan to one I doubted my wife and I could afford, when my family was going to have nowhere to live if we didn’t sign?
    4. Why did Countrywide tell us their copy machine was broken when we signed our lock-in agreement?
    5. Why didn’t Countrywide give us a copy of our Lock-in agreement document when we asked for it since the beginning of our mortgage?
    6. Why did Countrywide sell our note to Bank of America that we did not want to do business with nor support, and not hand deliver the note?
    7. Why are we forced to do business with Bank of America and forced to allow them to service our loan?
    8. Why did Bank of America ignore us on 5 modification attempts to our previous lock-in agreement and only answered and told once that we didn’t qualify?
    9. Why does Bank of America deny our QWR for all Loan, escrow, Lock-in agreement, and 6 modification attempts, documents?
    10. Why does Bank of America Bank of America threaten to foreclose, selling our note, and actually put our loan into default with pre-foreclosure, still denying us our QWR?
    11. Why is it legal for real estate companies and internet sites allowed to show our house available in pre-foreclosure, for 2/3 the cost I purchased it for, at a monthly mortgage half of what I am being forced to pay?
    12. Why is it ok for Bank of America to foreclose on my mortgage when the amounts due are the same amounts our houses estimated worth has depreciated, due to Real Estate company’s, Countrywide’s and Bank of America’s practices of unequal, racial, judgmental, predatory lending for greed of money with house flipping and greed of money, no matter who it puts on the street and causes to be homeless?
    13. Why is it ok for the home builder to tell us they’re not going to fix the cracks in our stucco unless they can fit a nickel inside it?
    14. Why is it ok for banks to exercise their legal document rights, ignoring and denying the consumer their documented rights when the consumer cannot afford the greed of an attorney?
    15. Why does everyone, banks, governments, other nations and countries think they can do what they do against Americans and God’s true Children everywhere, and get away with it, without judgment from God?
    16. Why did the American Government bail out these banks with tax payers money, for doing these things to Christian Americans that choose to be the True Children of God?
    Your Judgment is here, life of your own conscience knowledge, truth and action of un-repented sin of mortality and impurity expressed towards existence, reality and destiny, to have life upon and within yourself. They are your truths, beliefs and actions you decided to agree upon and express upon all things existing or going to, even yourself.

  2. Zion

    Gods judgement, spirit and Jesus added to sun and solar flares is taking down B of A and greed. Why did banks and B of A hire American Christian hating muslims to service American Christian loans?
    In 3 years I’ve tried 6 attempts to modify back to the 5.75% loan and I was denied once and I was ignored on the other attempts. I was not being greedy or forcefull, I just wanted my original LOCK-IN AGREEMENT! Because no loan is equal, neither is the statement true, Equal housing Opportunity and Equal housing lender. How can they be equal if they judge and condemn the poor and glorify the rich? I was told I could not afford the cheaper loan when I immediately called countrywide, but I had to sign because my family was going to be on the street if we waited and the bank new this. Our first time buying a house was hell, so shall fire come down from heaven by God’s hand. Because of Countrywides and Bank of Americas afflicting deeds of and exploiting the wages towards Americans, the worth of my house and property has decreased $50,000. The same amount they are foreclosing on my loan for. I find my house in pre-foreclosure online at 2/3 the price they’re trying to keep me obligated to under a predatory loan that changed on me without notification. I did not know this until I went to sign in 2008. I was locked-in at 5.75% and they changed it to 6.25%. It was supposed to be $0 down, 0 credit, $0 at closing as the builder claimed, but we ended up having to give our last $3,000 to our name. Now for some reason, probably to hide the way I have been treated ever since we purchased the loan and house, no-one seems to be able to find my lock-in agreement document that even my escrow and loan documents states is supposed to be there. So instead of giving me a copy of my lock-in agreement, B of A is foreclosing on me and trying to sell my note and loan to someone else trying to hide what they did and how they treated, a White, American Indian, German and Irish American Christian Child of God. I am telling the World, Universe and God Himself, to deal with Banks, greed, exploitation and their judging against man and his credit. So shall they all exploiters and extortioners of mans wages be given what they have done to God’s Children, DOUBLE in the Name of My Lord, Jesus Christ, in the form of storms and solar flares with God, His Spirit, Power, His Son and Blood being added in the Air, Light, Solar substance and water too, with God’s energy and power piercing through and eternally purifying All physical and spiritual substance. It IS DOne!

    Now instead of B of A adhering to our rights and answering our QWR and our request for the lock-in agreement they for some reason don’t have, which shows proof of them upholding preditory lending practices and neglect towards their borrowers rights, they put my house into pre-foreclosure and it gets put up for sale at 2/3 for what my loan is. I still can’t get my lock-in agreement. I tried to get it from Countrywide and they sold out to B of A. Now B of A is doing the same thing. So because B of A is doing the same as Countrywide did to me, so will B of A fail in the name of our Lord, Jesus Christ, Amen. All B of A had to do was give me the cheapest loan available at the time and give the same equally to everyone no matter what their credit score was. But they made sure of it that I DID NOT HAVE NOR GET AN EQUAL HOUSING OPPOTUNITY NOR LENDER. B of A has come against God and His Children, so shall He give banks, the same they render unto Us.

  3. Pingback: The Second Report From The Monitor for the Attorney General Settlement | Resource Blog

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