And without even being told of their plight, I state, "Don't tell me they have sent you the papers to fill out three times without ever communicating about the process concluding on your loan. AND. You are still struggling financially, not productively contributing to the USA's recovering economy in order to maintain your mortgage from defaulting, declaring bankruptcy, losing everything you own until the next tragic breeze blows through your life and you will have reached your tipping point? Right?"
Carrot and stick. BOA is thumbing their nose at the government and robbing our economy of cash flow. Not only that, but, who wants to vote for a President that can't make the banks jump through hoops?"
Each bank involved in the refinancing of mortgages to help homeowners keep their dreams alive needs to have a government monitor exclusively available to make sure their banks are operating for the best outcomes to citizens. Sort of like when BP dumped oil and gas all over the Gulf of Mexico and the USA Coast Guard had to give the states governors a companion to answer all their questions, hold their hands and provide communication to those coordinating the operations to be sure everything was being handled well and expeditiously.
I thought this was interesting:
America is facing an historic national mortgage crisis. (click title to entry - thank you) Due to a collapse of home values, one in five mortgaged homeowners owe more than their homes are worth; more than eleven million families are now underwater. Nearly three million of these families are in default and on their way to foreclosures that will depress home prices further, causing still more foreclosures. MRP seeks to stem this tide. (Click here to see the severity of underwater mortgages in the U.S.)
As a PS to President Obama and his administration. I have family that works in banking. I am aware of a bank that sought outside 'experts' to assist and expedite their refinancing tasks. A company filed their qualifications, they were hired and given a date to begin the process with the bank. When the day came the company hired didn't have a clue what they were doing yet. So. The bank decided to move back 'in house' and do it themselves and they are making progress. It is not BOA.
There are move bozos pretending to be experts in this disaster than there are circus rings under the tent. BOA is one of the worst banks in the country and have the lowest success rate in their mortgage market and refinancing. They don't want to do it. They are systematic about it, otherwise, I wouldn't be talking to so many people (complete strangers and people the courts would call friendly strangers) from states all over the country having the same exact pattern occurring in their life with the only common denominator being Bank of America. They really have learned to let their bank bones slip at BOA.
I had laugh when I visited a BOA and there were landscapers planting scrubs and the lobby had new cameras and bullet proof glass, now from floor to ceiling. What are they preparing for, certainly not throngs of customers trying to get in.
Let's hope tomorrow is a new day at BOA.
