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Federal Court to Hear BofA Loan Modification Class Action Lawsuit

By Matt O’Donnell

 

Bank of AmericaA federal court is set to hear claims from multiple class action lawsuits that say Bank of America improperly administered the federal Home Affordable Loan Modification Program, costing homeowners their chance to avoid foreclosure.

Homeowners across the country sued Bank of America last year after trying, unsuccessfully, to participate in HAMP. Bank of America accepted more than $25 billion in government bailout money, as part of the Troubled Asset Relief Program (TARP), that was intended to help struggling homeowners make their mortgage payments and avoid foreclosure. Companies that accepted money under TARP are subject to mandatory inclusion in the Home Affordable Modification Program (HAMP) — a government program designed to stem the foreclosure crisis by providing affordable mortgage loan modifications and other alternatives to foreclosure to eligible borrowers.

“Though Bank of America accepted $25 billion in TARP funds and entered into a contract obligating itself to comply with the HAMP directives and to extend loan modifications for the benefit of distressed homeowners, Bank of America has systematically failed to comply with the terms of the HAMP directives and has regularly and repeatedly violated several of its prohibitions,” states one of the Bank of America HAMP class action lawsuits filed in Missouri last year.

Homeowners across the country subsequently sued Bank of America last year for either failing to grant permanent loan modifications or failing to even acknowledge they received modification applications, despite the homeowners meeting the qualifications necessary to receive help.

The Bank of America HAMP class action lawsuits were consolidated into one case: In Re Bank of America Home Affordable Modification Program (HAMP) Contract Litigation, Case No. 1:10-md-02193-RWZ, United States District Court, District of Massachusetts.

 

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Updated July 21st, 2011

 

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55 thoughts onFederal Court to Hear BofA Loan Modification Class Action Lawsuit

  1. Paula Dudley says:

    I like to know what happen was there any money release yet I have been out of touch I filed a loan modification with boa several times when boa had my mortgage is that why I go shifted around

  2. stacy woods says:

    I tried to file a claim also with you regarding BOA! They took from 2007 till 2016 to modify my loan…i was denied under this over 50 times. How do i get in on this?

  3. Valerie Malone says:

    i need to fail a claim too, as boa has sent me through the same game, I have sent in seven mod apps for three years. They claimed they lost all my papers even after I took them to one of their offices to fax for me.

  4. Valerie Malone says:

    I too have been fooled by boa can you tell me how to get in on this suit.

  5. maria w ferrell says:

    Between 2010, 2012 and 2013, my husband and I tried in vain, to get Bank of America, our loan servicer, to grant us a loan modification. After more than four times of filing and refiling our claim, Bank of America denied us a modification, and despite going directly to the bank branch, and filing our paper work with them, each of the four tmes, we were told that they never received our paperwork. This is unlawful and it is time for BAC to pay for their serious violations.

  6. Joyce A Padilla says:

    I tried, tried and tried to get a modification with BofA back around 2010 and fought with them up until I had to let my home get repossessed in 2015.

  7. Brian says:

    I have filed my claim and I am waiting for a reply and the claim form should be easier to find

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