• Archives

  • Blog Stats

    • 669,020 hits
  • Categories

Lawsuits claim banks failing to honor loan modifications

Justice League

Bank of America sold the mortgage servicing rights of $650,000 home loans to a company called Green Tree. Green Tree said it received no record from Bank of America of Adella King’s loan modification and declared her mortgage in default.

Consumer lawyers in Western Washington say they are seeing increasing instances of banks failing to honor home loan modifications.

“It scared the heck out of me. I pretty much lost it because I thought I was going to lose everything,” said Adella King of Enumclaw.

King says her home of 20 years was foreclosed upon after her bank denied that she had been granted a modification.

King says Bank of America gave her the loan modification – a reduction in her monthly payment – in 2013 after her husband’s death. But later that year, she says, BOA sold the loan to Green Tree Loan Servicing.

“(Green Tree) said they had received…

View original post 36 more words

Advertisements

What is your opinion?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: