Customers of the largest banks in the country are the least likely to believe their financial institution does what’s best for them as opposed to what’s best for the bottom line, according to a report from Forrester Research.

Read the rest of this entry »

I was thinking about domains and Bank of America, and started typing in a few urls. I typed  www. bankofamericasucks.com and it was taken, obviously.  The owner remains annonomous. I typed www. BofAsucks.com and guess who owns it,  Bank of America owns it.  They were the first to figure it out, obviously, so they bought the domain.  Go to GoDaddy.com and see for yourself. I typed www. BofAhelp.com  To my amazement, no one owned it! Not even the helpfull people at BofA, yea right.  Now wouldn’t you think with as many people that are in trouble and need help with their mortgages and credit card debt, that BofA would have purchased this little domain so maybe someone could reach them for help. Wrong. I guess they just don’t want to be contacted at all unless you want to get a credit card, borrow money, or make a payment.  Maybe they were too busy getting their million dollar bonuses to worry about another little domain, afterall, they already bought the important one, right? www. BofAsucks.com.  So I annied up the $7.17 and purchased the domain, just to prove the point that BofA thinks way more about sucking something out of us than they do about helping anyone at all. Their choice of purchasing domains clearly proves this.  Now, where shall i point this domain? Any Ideas? LOL…

As awful as it is to lose your home, it’s at least a relief to put your largest financial strain behind you, right?

Wrong.

Former homeowners may remain obligated if there’s a difference between what they owed on their mortgage and what the bank could auction it off for.  And these “deficiency judgments” are time bombs that can go off years after borrowers lose their houses.

It can even happen to people who got their bank to approve them selling their home at a loss.

Read the rest of this entry »

I just read an article that Stephen Gandel wrote about bank earnings! Wow can you believe that banks say they are losing money. It doesn’t take a college grad to figure out why. Big companies are so inefficient.  My cousin bought a house that was in pre-foreclosure stage and the bank held up the closing over $200.00 on a hundred sixty thousand dollar home that they were receiving no payment on. I have done three loan modifications with the same bank; two of them have been completed over 2 months. The third is still in process with the file switching hands four times. All the hard work and time on the first two, If the third is not completed the first two won’t matter. I think about how they handle $750,000.00 loans, I wonder how they handle all the other loans in pre-foreclosure stages. The first two loans are getting paid on time, and the properties now cash flow.

They say Forbearance and loan modifications are helping, when I talk to a lot of home owners and investors they say they would rather walk across the desert. The phone calls of repeating yourself over and over, asking your name, account number and last four of your social number after multiple transfer s of a single phone call.  This will drive anybody insane! Every executive and Politian should have to spend two hours a day for seven days straight calling their own company to see if they can get help. I bet things would change. Until the share holders stand up and stop investing in these types of companies. The greed will continue because these companies are using other people’s money.  Most people but not all spent other people’s money much easier than their own. Employee’s letting files set with thousands of dollars, with the note holder not paying a dime. I would think time would be a factor to get the money flowing again.

Now the credit card companies are wondering why they are seeing the earnings drop. One lady told me today that the bank was so rude to her she was putting them on the bottom of the list. They haven’t been paid for over the past couple months.  Customers are feed up; I believe we will see a big default in credit cards.  More and more people are coming forward to tell their side of the story. Read the rest of this entry »

Approximately 2.8 million homeowners faced foreclosure last year, but it was not supposed to happen to the Cordosos.  In 2005, the Massachusetts couple paid cash for a house in Springville, FL, and rented it with plans to eventually use it as a retirement getaway.

They were shocked to learn earlier this month that Bank of America (BofA) had locked them out and removed their belongings.

Read the rest of this entry »

I have a home financed with Bank of America and I got behind on my payments but now I am able to start making payments and I have been trying to get someone to help me there since October with my loan. They are telling me I do not qualify for a Loan Modification with them and have been told this twice..once I was told I didnt qualify making $3500 a month and then again today showing that I only make $2000 a month. I have the means to pay my mortgage payment now, but they are demanding all the past due paid along with there fees, which total approximate $8500. They have placed my home in foreclosure and are not willing to help me in anyway keep my home. I have tried and called and get no where with the people they have answering the phones. I am able to make my payments now and want to save my house from foreclosure, which I thought they would want to do as well, but I can’t get anywhere with them. Can someone help?

The Federal Housing Administration (FHA), which is insuring thousands of mortgages daily, is expected to announce that it is cracking down on its requirements.

Borrowers who receive an FHA-insured loan will have to pay a higher insurance premium initially.  This will be 2.25% of the value of the loan, up from 1.75%, an overall increase of 0.5% (mafia loan sharks refer to this vic as a half-point).

Sellers will not be allowed to offer as much aid to buyers to cover their closing costs.  The maximum amount of assistance will drop to 3% of the property value, which is down a total of 3% from its current 6%.

Read the rest of this entry »

Bailouts come from taxes paid by you and me, so have we not ALREADY paid the banks EXTRA money they are NOT REALLY ENTITLED TO in the first place?

Where is OUR DEBT FORGIVENESS?

Read the rest of this entry »

Do you wonder why the credit card rates are sky rocketing. Some might believe it’s because the government is regulating the banks come February. I thought that myself at first, but what if the big banks are projecting the economy is going to get worse.

Read the rest of this entry »