Lender Being Sued for Loan Modification Denial

It is very clear that these banks just don’t want to modify loans. There is more incentive for them to foreclose than there is in modifying, or even doing a short sale. Yeah, they’ll do it in a few cases so they can say they did, but their end game in most cases is to take the house. The only time they’ll do otherwise is from some push-back from the homeowner. I’ve seen it too many times where banks have turned down great short-sale offers only to spend thousands on attorney’s fees to foreclosure and then sell the home for less than the original short sale offer!!!!
How does this make sense? Why would the bank spend so much money to lose money? That’s the trick, THEY NEVER LOSE MONEY! Let me help you out with that again…THE BANKS NEVER LOSE MONEY! They are actually given more incentives to foreclose, and by keeping the loan on the books at face value and not the true value, they can manipulate the books, while keeping the stock price strong in the process. But it’s all a bunch of bull…this isn’t real money despite being on their books as capital in the assets column. This can take me into a whole other discussion that I don’t care to approach right now, but it all comes down to smoke and mirrors…to confuse you and cloud your judgement. By making it as confusing as possible for the public they’re hoping for us to cross our eyes trying to figure it out and sell out to agreeing with the nonsense stuffed down our throats by the media.
Fortunately, Kim Orsi, a homeowner in Detroit decided to fight back against Bank of America after approving her loan modification and then changing their minds. BOA is notorious for this type of behavior and is one of the biggest criminals in this crisis. First off is the whole process of getting a loan modifcation. They don’t speak with you unless you are late for 3 months…isn’t that great. Make sure you ruin your credit with a 90-day late so we can turn down your loan modication and with your credit officially screwed you can’t go anywhere else. They’ve got you right where they want you…powerless and creditless!
I’ve seen the approval of loan modification with a denial to follow by Bank of America more than any other lender. They’ll even put the approval and denial in writing before trying to take your home. They are ruthless. Orsi, who is a hair stylist ran into trouble following her divorce, was approved for a modification under the government’s Home Affordable Modification Program (HAMP) program, only to have the rug pulled back out from under her.
“I don’t want people to feel sorry for me,” Orsi told the Detroit-Free Press. “I want them to be angry because the banks can deny you a modification, even if you qualify.” I couldn’t agree more, we should all be angry at what is going on. This is why people are standing up and filing Quiet Title Action against their lenders to make them accountable. It’s time to take a stand and get our homes back. I hope Kim Orsi files for Quiet Title against Bank of America to get what’s rightfully hers. Is this type of activity that has judges beginning to come down on these lenders and rule for the homeowner.
Justice is slowly coming to these banks, and it’s because of people like Kim Orsi, who are sick of the garbage. Great job!

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