All bankruptcy attorneys are not created equal. Schedule A Free Case Evaluation
Nowack & Olson, PLLC
Let’s do this together.
Speak with one of our professionals.
888-813-4737

Bank of America let down homeowners trying to stop foreclosure

Millions of Floridians lost their homes during the housing crisis. It was hard enough for people struggling with financial challenges, but it’s more infuriating to find out that many foreclosures might have been prevented if some banks had been fairer with their foreclosure practices. It’s no secret that some major lenders made it more difficult for homeowners facing foreclosure to keep their homes. The National Mortgage Settlement addressed concerns by homeowners and consumer advocates that these banks used fraudulent and deceptive procedures to push homeowners into foreclosure.

Bank of America was one of these banks. Signed statements by several former bank employees state that Bank of America rewarded employees for foreclosing on homeowners, misled those looking for government-sponsored loan modifications, and regularly denied applications for mortgage relief for fraudulent reasons. The government’s Home Affordable Modification Program (HAMP) is also under scrutiny for allegedly delaying assistance to millions of homeowners hoping to stop repossession through affordable loan modifications. Bank of America reportedly received $992 million in HAMP-related payments as incentive to foreclose on homeowners, rather than ensure they received HAMP aid.

A former manager with Bank of America said that employees who challenged Bank of America’s foreclosure policies were often fired. As a result, he said, many homeowners who could have received a HAMP modification were forced to sign an expensive in-house modification with the bank.

In these uncertain times, these types of actions against homeowners are unconscionable. Lenders should be attempting to help families stay in their homes, rather than making it harder to get assistance. It’s hoped that a current class-action lawsuit on behalf of homeowners across the country who have been victimized by mortgage abuse will put a stop to the types of practices that cause financial ruin for families, while enriching banks.

Source: eCreditDaily, “Lawmaker: Review Bank of America’s ‘Outright Abuse’ of Consumers,” June 18, 2013

We take your situation as seriously as you do.

Start with a Free Case Evaluation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

What Our Clients Say:

Back
  • "Maria please let Attorney Olson know how pleased I am with the results of my home loan modification with Bank of America. I am so grateful for all of their hard work, especially since my house was a gift from my parents, I prayed not to lose it to foreclosure....."

    Cassandra M.
  • "We received last Friday our bankruptcy discharged letter for the trustee.
    We want to thank you very much for your services in our bankruptcy file.
    We are very pleased and happy with your service, you are so professional, courteous, organized and fast.

    We will recommend you every time we can.
    God Bless You!"

    Yazmin & Ricardo D.
  • "MY EXPERIENCE WITH MITCH AND CHRIS AND U WERE JUST A GREAT EXPERIENCE I WANTED TO GIVE UP PRIOR TO U GUYS.. DON'T WANT TO FORGET ABOUT LEO, HE'S ALSO GREAT PERSON..COMMUNICATE REALLY GREAT WITH ME,,ACTUALLY ALL OF U ....I CAN EMAIL OR CALL .U ALL ALWAYS REPLY TO ME....."

    Tonya C.
  • "I was very pleased with work of Nowack & Olson, and way you guide me through all process of bankruptcy and loan modification. I received good care and was informed on every step of it. Thank You very much. You save my life!"

    Kasia D.
  • "Just wanted to thank you again for helping my wife and family through a tough time. We are finally starting to get back on our feet and building back our nest egg. We have stabilized our income again, and see the light at the end of the tunnel. I remember one of your tag lines was helping good people through bad times... That always rang true with us....."

    Peter R.
  • "After a rather distasteful experience with a Foreclosure Attorney I was apprehensive to say the least to hire an Attorney to handle our Bankruptcy. After some internet searches and research I found Christian Olsen, and after our initial consultation my wife and I retained his services....."

    Bobby and Tanya
  • "I am a teacher who reaped the rewards of a profitable side business until shortly after the recession. I struggled to keep my business afloat until I finally threw in the towel. Between personal and business debt, I was suffocating in bills....."

    Richard C.
Read More Testimonials

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.