Posted tagged ‘Bank of America’

Three Great Videos About Countrywide & Loan Modification

July 30, 2009

In the first video a former Countrywide manager who was fired for in his words not selling bad loans that were doomed to fail speaks to the press. Countrywide was in my opinion rotten to the core. Unfortunately most of its employees cared only about closing the next deal and getting another commission. So many knew so few stood up.

This video announces the lawsuit filed by Florida Attorney General against Countrywide. I was pleased to read that while Countrywide is no-longer its ex- CEO will have to come to Florida to stand trial. To think Bank of America paid billions of dollars for a company that we was far, far, far less than nothing. Countrywide not only scammed its customers they scammed Bank of America who was in such a hurry to build mortgage market they apparently failed to due proper due diligence.

This is the best video of the bunch. Watch as Congresswoman Maxine Walters, of the U.S. House of Representatives calls Bank of America and other banks to obtain loan modification on behalf of her constituents only to be put on hold, hung up on and been given the run around for hours. Great job Nightline / ABC. In this video Rep. Maxine Walters does fantastic job advocating for her constituents and standing up to the big banks. With so many members of Congress ready to throw billions of dollars to every bank that made replaced common sense with greed and made bad loans at least there is one member of Congress that will take the big banks to task.

If you are a homeowner in foreclosure please see our lawfirm’s foreclosure blog.

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