Homeowner Takes on BOA for Foreclosure and Mortgage-Backed Security Fraud

Posted: January 16, 2012 in FINANCIAL, NEWS
Tags: , , , , , , , , , , , , , , , , , , ,

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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.

Like so many others in their situation, they followed instructions to the letter only to have Bank of America renege and commence foreclosure proceedings.

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  1. […] Homeowner Takes on BOA for Foreclosure and Mortgage-Backed Security Fraud (truthsupport.wordpress.com) […]

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