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Homeowner Beats Bank Of America In Small Claims Court

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posted on Jan, 5 2011 @ 10:42 AM

Homeowner Beats Bank Of America In Small Claims Court

A California homeowner sued Bank of America in small claims court and won $7,595 from the bank after it burned him on a mortgage modification.

"It was a good victory for me and I think for homeowners around the country," Dave Graham told HuffPost.

Graham, who lives in Big Bear City, Calif., applied for a loan modification under the Obama administration's Home Affordable Modification Program, which is supposed to give eligible borrowers a "permanent" five-year modification...
(visit the link for the full news article)

posted on Jan, 5 2011 @ 10:42 AM
Finally being held accountable, if only in small claims court.

Graham said his trial dragged on for 18 months. He said he made every payment until Bank of America told him in May that he didn't qualify for HAMP, and that he'd lose his home unless he paid about $7,000 to make up the difference between his normal monthly payments and the reduced payments he made during the trial period.

"Each month when I did talk to them I was informed it's still under review -- as long as you keep making this trial payment everything will be fine," said Graham, 53. "At some point I started receiving notices from my credit cards that they were reducing my credit amount due to recent problems making my mortgage payment on time

Their bait and switch tactics didn't pan out in court for them this time.
Praise be to God.

I hope this continues and others fight this nefarious Bank.
(visit the link for the full news article)

posted on Jan, 5 2011 @ 10:46 AM
Yeah this loan mod was a fluke. Saw that when they opened it up. Just another extortion tactic backed by Obama~ Atleast its his name on it, he can own it now!

posted on Jan, 5 2011 @ 11:10 AM
reply to post by Whereweheaded

They only approve them for 20% of the people applying for them too...
Buyer beware....

I wonder how many other people's credit ratings are being completely destroyed without their realizing it.

posted on Jan, 5 2011 @ 11:27 AM
reply to post by thegoodearth

It just doesn't quit, does it?

But YAHOO! ...and more to come!

The National Consumer Law Center is involved in several class-action lawsuits against banks and others over broken HAMP promises. (Those lawsuits, if successful, will prevent foreclosures.) The NCLC's Charles Delbaum told HuffPost that Judge John Pacheco's "terrific decision" in Graham's case picked up on the same theme of more than a dozen actions against the likes of Bank of America, JPMorgan Chase, Wells Fargo, and CitiMortgage.

"[I]t is unconscionable to string homeowners along far beyond the three month trial periods they and their banks have agreed to," Delbaum emailed, "allowing them to become more and more behind on the payments due under their original loan, making the hole they are in ever deeper and harder to dig out of, and then to tell them they weren't eligibile for the program in the first place -- something the banks are required to determine within the three month trial period."

Can't wait.

posted on Jan, 5 2011 @ 11:34 AM
reply to post by soficrow

Those scumbags just don't understand that people are finally fed up
and not going to be cowed under any more with their threats of being kicked out
of their houses...

Rep. Marcy Kaptur said it best in 2009-

posted on Jan, 5 2011 @ 11:44 AM
These business deals are plain and simple fraud.Robbery by another name....
Chavez has dome more to protect the people from the banks than Oscama!
There is an ugly awareness creeping over the face of the land.people everywhere are finding out that these shyster bankers are NOT their friend, and are NOT there to help.
Other than to help themselves to our money......
It is time the banks were totaally nationalised or statesized if you will.
There is too much room for ccorruption and manipulation in the private banking industry.
Now the economy has been effectively sabotaged by the Fed, the banks are in there like ravening wolves.
Picking off the weak, and the helpless.
Their greed is limitless!
Banks profits and allowable interest rates,should be severely restricted,
Any excess profits should be siphoned off to goverment social nets....!
Equality means nobody should be allowed to suffer and starve in this society!
Everybody should have a home, and we could deliver them too!
Money that is being sucked into defense and other items really belongs to those who pay the taxes!
And those tax payers deserve a better say in how these monies are spent!
I am sure the American public would much rather have universal medicare that is funded by the money they have already paid Rather than dig into their pockets yet again for it, we could pay for it with the over profits of the banks.
Theres enough money for all.It just must be allocated to the right items.
We could have a society where nobody is left behind, without reducing anyones living standard!

posted on Jan, 5 2011 @ 11:45 AM
I paid off my BoA card and closed the account in Aug of 10. Got a letter the other day that I owe them 510 $ in fees and such. Haven't heard a word since last August going to call tonight

posted on Jan, 5 2011 @ 11:56 AM
reply to post by thegoodearth

GREAT vid!

Thanks for that.

posted on Jan, 5 2011 @ 12:54 PM
I happen to know a few people who went on the loan mod program. after five years, the interest and excess balance of the monthly payments were rolled into the tail end of the loan, jacking up their payment after the five years. they are right back to where they started. The loan modification was a scam. As well as the cash for clunkers. The dealerships have yet to be paid for the clash for clunkers program. Again, another scam.

posted on Jan, 5 2011 @ 01:32 PM
reply to post by mikellmikell

Oh, dear God.
Good luck, brother.

posted on Jan, 5 2011 @ 01:35 PM
reply to post by soficrow

Yes- she was featured prominently in "Capitalism: a Love Story."
I wish she lived in PA. I would vote her in and set her loose against the fracking industry.

posted on Jan, 5 2011 @ 01:59 PM
It's a small victory but at this stage of the game any victory is welcome.

What I'm hoping and waiting for is someone beating BoA in a foreclosure scenario where they have no proof/deeds.

Edit: excellent more good news. They are not only brave people but brave law firms.
edit on 5-1-2011 by spookfish because: (no reason given)

posted on Jan, 5 2011 @ 02:06 PM

Originally posted by spookfish
What I'm hoping and waiting for is someone beating BoA in a foreclosure scenario where they have no proof/deeds.

I am awaiting this as well.
That will open a gate that will unhinge the company, bring them down and reduce them to ashes.
I only pray there is a lawyer out there brave enough to try it and a judge fair enough to rule on it.

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