Wednesday, July 4, 2012

Homeowner Loan Mod 'Jerk-Around' To Cost BofA $300K; Amount To Grow To $900K Upon Bankster's Failure To Timely Cough Up The Cash, Fix Victim's Credit

In Beaumont, Texas, The Beaumont Enterprise reports:

  • A Jefferson County judge has sanctioned Bank of America $300,000 because of how it the company handled a Fannett woman's mortgage.

  • Trudie Crutchfield entered into several agreements with the mortgage company to catch up on her payments after Hurricane Rita. The company, though, did not hold up its end of the deals, her attorney, Wyatt Snider said, and started foreclosure proceedings against her home. The company also allowed the information to go on her credit report.

  • After three lawsuits against Bank of America to stop the foreclosure, Judge Bob Wortham of the 58th District Court ordered the company to pay Crutchfield $300,000.

  • The company must pay within 30 days or the amount doubles. Also, if the company does not fix Crutchfield's credit within 90 days, the company must pay an additional $300,000.

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