Bank of America Foreclosures Continue Despite Claim They Have Halted Foreclosures in 50 States!

[Better Believe It]

Bank of America Foreclosures Continue Despite Statements of Halting Activity in 50 States
by Morgan Skinner, KCGS News Kcsg Television
October 13, 2010

(St. George, UT) - On Monday, a few days after the Bank of America announced that it was halting foreclosures until it could review foreclosure documents for potential errors, the bank posted a notice of foreclosure sale in southern Utah. When KCSG news learned of the foreclosure sale, we asked Bank of America spokes woman Jumana Bauwen to explain. Tuesday she replied, "We (the bank) will continue the foreclosure process on delinquent borrowers, but will not proceed to judgment or with a foreclosure sale at this time."

David and Tammara Robinson of Ivins Utah arrived home Monday to find a Notice of Sale posted by ReconTrust Company on their door stating their home would be sold on November 9, 2010 at foreclosure auction. Robinson’s attorney John Christian Barlow told KCSG News, “This action only demonstrates the great lengths Bank of America will go to cover up its fraudulent activity in the mortgage industry. The bank is desperate to foreclose on homes because once it's foreclosed the evidence of wrongdoing is gone," he said.

The Robinson's saga is typical of many homeowners whose loans are serviced by Bank of America. The Robinsons built their dream home in 2002. After a series of loan transfers their home loan finally landed with Countrywide Home Loans which went bankrupt and was acquired in a $4.1 billion dollar stock transaction completed July 1, 2008.

In 2008 when the economy tanked, the Robinson's income decreased. Eventually, they were able to make up the payments and had nearly caught up their mortgage. However, upon submitting a substantial payment to bring their mortgage current, Bank of America rejected the payment. When the Robinsons called Bank of America to find out why, they were told that the home was in active foreclosure and the bank would not accept the payment.

The Robinsons had previously attempted to obtain a modification of their mortgage, but the Bank of America denied any modification even though the Robinsons met the criteria for a loan modification. “The Robinsons have the ability to make the mortgage payments on their home," said Barlow, "but the bank doesn't want the money, they want the home.

Read the full article at:

http://www.kcsg.com/view/full_story/9900847/article-Bank-of-America-Foreclosures-Continue-Despite-Statements-of-Halting-Activity-in-50-States?instance=home_stories2

[Better Believe It]

1. Banks' foreclosure moratorium claims called 'farce'

Lee County foreclosures continue
Banks' moratorium claims called 'farce'
By DICK HOGAN
October 13, 2010

Two giant lenders who said they’re freezing foreclosures nationwide are conducting business as usual at the Lee County Courthouse.

JPMorgan Chase & Co. and Bank of America Corp., along with some smaller lenders, have announced that they were holding off on court-based foreclosures until they could sort out issues with them, such as whether attorneys actually read all the paperwork.

But in Lee County, court records show both of those banks have continued to get court judgments allowing the sale of mortgages on foreclosed houses at public auction.

That’s despite statements from both banks that they stopped doing that about two weeks ago.

April Charney, a Jacksonville-area legal aid attorney who’s an expert on foreclosure issues, said she’s hearing similar reports from around the country. She scoffed at the banks’ protests that they didn’t intend for the judgments to be issued. “It’s a farce,” she said. “We’re all being played.”

http://www.news-press.com/article/20101013/RE/101012064/1075/Lee-County-foreclosures-continue

[Subdivisions]

2. I don't think it was reported that foreclosures would stop. BUT, it was reported

that foreclosure SALES would stop pending a thorough examination of the paperwork.

So, what's the problem?