Bank of America's greed strikes again......

Reblogger Rose Osman
Real Estate Agent with John Aaroe Group CalBRE 01274989

Original content by Ralph Gorgoglione RS-78439 / BRE #01708344

I just learned today that Bank of America is the ONLY major bank who has not agreed to the HAFA legislation.

Apparently, they do not want to give up their right to perscute a distressed seller, even after an acceptance of short sale on THEIR terms.

And the other little tidbit of information I learned today is that now Wall Street is going to be involved in the after sale process of a short sale.

Apparently now, Wall Street will now be in the game to do Bank of America's dirty work in attempting to collect the deficient amount of the short sale from the seller, and that these deficiency judgements will be sold off at a discount to Wall Street by Bank of America.  Much like the secondary loan market.

Does this not freakin' amaze you how these greedy corporations, even after the devastation they have created, continue to look for ways of bleeding even the few ounces of blood left to a consumer?

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Spam prevention
Show All Comments
Rainer
6,037
John Doe
Scottsdale, AZ

Rose, I am with you girl.  I just stand back in amazement.  I do not see how the need for greed can continue without a horrific prize to pay as a nation.  I just can't come up with what our alternatives are and how to make our voice heard in a real way.

Jul 26, 2010 04:48 PM #1
Rainmaker
158,377
Rita Gibbons
MacDoc Realty LLC - Fredericksburg, VA
The Gibbons Group

Bank of America, Wells Fargo, Chase Home Finance, etc. are all driven by greed. The mortgage problems we're experiencing today were created by Countrywide, Bank of America, Wachovia, Wells Fargo, Chase Home Finance ... Countywide taken over by Bank of America and Wachovia taken over by Wells Fargo.  Is there an end in sight?  Not if Wall Street and these banks have anything to do with it.  They will bleed us dry!

Jul 26, 2010 05:54 PM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
53,618

Rose Osman

Ask me a question
*
*
*
*