- Report: #575549
Complaint Review: Bank of America Mortgage - Internet
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Bank of America Mortgage
Internet, United States of America
Phone:
800-669-6607
Web:
www.bankofamerica.com
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Bank of America Mortgage fraud, Internet
bank of america denies everyone the making homes affordable program,,can anyone tell me why?
2 Updates & Rebuttals
Edgeman
Chico,California,
U.S.A.
A number of reasons...
#2General Comment
Mon, March 01, 2010
A few reasons why people are being denied...
In some cases, the banks do not hold the mortgage. If the investors who are holding the mortgage decide that they would rather foreclose on the house, there isn't much that the banks can do.
Some applicants do not meet the eligibility requirements.
The program is voluntary. The banks are not required to approve every or even any applicants. If the bank feels that somebody is too much of a liability, they are free to foreclose.
I believe that BofA has approved somewhere between 160,000 and 200,000 people for this program. The others were rejected for one of the above reasons.
Karl
Highlands Ranch,Colorado,
USA
*KEVIN, I BELIEVE THAT I CAN TELL YOU WHY. I BELIEVE THAT....
#3Consumer Comment
Sun, February 28, 2010
many of these 'programs' were only put into place to help a limited number of people, but the goal was to create the ILLUSION that these plans were going to help millions upon millions of people.
You see, by leading millions of Americans, and others, into believing that there is "hope" in saving their homes, they'll continue to believe that they might be helped, and at the same time our government 'leaders' can say that they are helping people because some will actually qualify for these programs. However, 'some' isn't enough.
You should 'Google' this- ELIZABETH WARREN ON THE ECONOMY NOW ON PBS, and listen to what she had to say in that 24 minute interview regarding the 'foreclosure crisis' in America.
Also, the Mainstream Media can continue reporting about these "programs" that are out there to help the people in America. But they won't be so quick to report the numbers of people who are actually being helped because it's only a fraction of what's needed to keep our economy from "melting down" and eventually collapsing again, in my opinion.
Keep in mind, other countries are watching what's happening in America because the USA is the #1 economy in the world. Many countries rely on the USA for their economies to thrive. Germany relies on Americans to buy many of the cars that are manufactured there, right? Audi, BMW, Volkswagen, Mercedes, & others, rely on America to keep their assembly lines going, right?
South Korea relies on Americans to buy their cars too, correct? If these countries knew how bad it really was in the USA, they might not want to continue investing here, wouldn't you agree? China also has a lot of money invested in the USA. You can 'Google' this- CHINA INVESTMENT AN OPEN BOOK, and watch that 60 Minutes segment on the web. Listen to what was stated in that segment regarding what would happen if China pulled its investment out of the United States.
I believe if China knew the real story about the TRUE economic conditions in the USA that they wouldn't be so sure about their 'investment' that they have here. It could lead them to pull out most, or even all of their money, and invest it in their country instead, right?
As long as everyone "BELIEVES" that things are okay and getting better in the USA, then the 'house of cards' that we have here (much of our economy) might not come tumbling down.
*However, everything stated above is only my opinion. One of the few great things that we have in America is that we're entitled to our own opinions regarding any issue or topic, correct?
Thank You
P.S. Don't forget to 'Google' & watch all of the following on the web. They might offer some insight into your question-
ELIZABETH WARREN ON THE ECONOMY NOW ON PBS
CHINA INVESTMENT AN OPEN BOOK
INSIDE THE MELTDOWN
COUNTRYWIDE WHISTLEBLOWER REPORTS LIAR LOANS
FRONTLINE: BREAKING THE BANK PBS
(Keep in mind, Bank of America purchased Countrywide & Merrill Lynch.) That alone should answer your question, in my opinion.
