Homeowner Takes On Bank Of America For Foreclosure & Mortgage-Backed Security Fraud

https://3.bp.blogspot.com/-g3NBlcexmBA/TqjEoN-ly4I/AAAAAAAADqY/yZ00Xp6Y4Hg/s1600/image+01+home+foreclosures.jpg

Can Bank of America foreclose on a homeowner without showing any evidence that their client actually owns the promissory note?

Can a Mortgage-Backed Security sue for damages after they have already been made whole through credit default swaps

and a negotiated settlement with the originator of the security?

One Georgia couple is about to find out.

They’ve filed a civil action against Bank of America claiming they were “induced” to default on their loan

in order to qualify for a mortgage modification program,

and that the bank is attempting to foreclose on them without showing that their client has any right to the debt owed on their home.

Like so many others in their situation,

they followed instructions to the letter

only to have Bank of America renege and commence foreclosure proceedings.

.

Read the rest here

Next Post

Court Convicts 4 Israelis Of Heading International Human Trafficking Ring

Tue Jan 17 , 2012
The Tel Aviv District Court convicted Thursday four Israelis of heading a massive human-trafficking ring that reached out of Israel’s borders to such countries as Cyprus, Belgium and England, forcing hundreds of women into prostitution. . Read the rest here