Gee thanks BoA: Launching a pilot program to allow homeowners to lease their homes in lieu of forec

What nice people those BoA banksters are. As I see it, they (along with the other major banks and mortgage companies) tanked the economy and the housing market so lots of people lost their businesses, investments and jobs and cannot keep up with their mortgages. These same banks then go on a foreclosure orgy falsifying and fraudulently foreclosing on many people's homes. They get investigated for that wrongdoing and cut a deal with the Feds (sorry to all you who lost your homes. We'll cut you a $2,000 check to make things right).

So now they want to lease people's homes back to them at 'market rate' if they are behind on their mortgages. So these folks get to rent, the bank takes their home (after wiping out their equity) and everyone is happy? WTF? If the homeowners are in a position to pay 'market rate' lease payments why the hell doesn't the bank restructure their mortgages at that monthly premium? I mean come on. The bank was wholly culpable in these people being in that situation to begin with. Shouldn't they be forced to shoulder some of the responsibility for cruing out loud???

take this homeowners

reply to post by jtma508


What a piss poor program (no pun intended, well kinda). I dont see how this could reasonably Help Any individual consumer, to whom this program is geared.

Basically, once BOA foreclosed all these home, all the sudden they realized "we have all this equity in property, but we cannot do anything with it". The foreclosed homeowner couldnt sell the house, BOA definitely cant sell OR rent the house. "I have a brilliant idea, Lets dupe those poor customers we foreclosed on into thinking we are giving them a break, so that we can turn those properties into some liquidable equity".

They have absolutely No Intention of helping anyone. They are Only looking out for their own interests. Its absolutely despicable that they can get away with disguising it as 'giving back to the community'. What a load of bs!!

reply to post by TomServo


While I do agree it's a disgusting program that only adds insult to injury.. they are a corporation.. they are not a charity, it's their job to look at profits not how they can help someone.

Originally posted by Rockpuck
reply to post by TomServo

 

While I do agree it's a disgusting program that only adds insult to injury.. they are a corporation.. they are not a charity, it's their job to look at profits not how they can help someone.

Ur right...how dare corporations even think about doing something to help a human being.