Homeowners Claim Bank of America Schemed to Steal Their Homes

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Bank of America falsely told applicants they had to stop making regular monthly mortgage payments to be eligible for a HAMP modification. It was part of the bank’s scheme to prevent borrowers from receiving a modification so that it could acquire their homes through foreclosure.

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More than 100 Florida homeowners claim Bank of America fraudulently delayed or destroyed their applications to modify the terms of their mortgages to steal their homes and sell them at a profit. Read more

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Fed up with what they claim is a serious violation of their property rights — and sometimes outright theft — homeowners are fighting back. In the past five years, people in 31 states have filed more than 250 lawsuits against the six largest national companies that contract directly with banks to inspect and repair homes in some stage of.

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