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Tag: Home Affordable Modification Program

Banks Rejected Three Out of Four Requests for Loan Modifications Under Vaunted Obama Program

One of the Obama administration’s “signature efforts to help homeowners” has “allowed big banks to run roughshod over borrowers again and again,” reports The New York Times.

Posted on Aug 1, 2015 READ MORE


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Rainforest Action Network (CC-BY)

Bank of America Lied to Homeowners and Rewarded Foreclosures, Ex-Employees Say

Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.

Posted on Jun 18, 2013 READ MORE

AP / Susan Walsh

Will Mortgage Settlement Avoid Repeating Obama’s Foreclosure Failures?

On Feb. 9, administration officials stood alongside state attorneys general to announce a $25 billion mortgage settlement reminiscent of deal made three Februarys ago. Three years later, that program is widely considered a failure.

Posted on Feb 11, 2012 READ MORE

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