Nikki D White
I have a 1st & 2nd mortgage with Bank of America. I received a letter from Bank of America 2 weeks ago letting me know they have sold my 2nd to Banco Popular Bank. I have been trying to get a loan modification on my 1st with Bank of America for 7 months. I continue to get the run around *** they are famous for. I have stayed current with the second unfortunately I cannot say the same for the 1st. A few days ago Banco Popular called to let me know where I am to remit payments. During the conversation with Popular i realized that Bank of America pulled a fast one. My 1st & 2nd mortgages total $265,000.00. The current value of my home is $88,500.00.
The loan that Popular purchased has a balance of $44,500.00. If Bank of America forecloses Popular will not be able to recover the amount due to them. This leaves Banco Popular out in the cold holding their dicks in their hands. In summary,
Bank of America cut their losses by selling the 2nd. This sounds like it should be illegal. Its like insider trading, dumping stock when you know the price is going down. I dont see any difference. Again, Bank of America shows rules do not apply to them. That says f**k you to the American people!
I am fighting back at Bank of America and this adds one more issue to the list
Product or Service Mentioned: Bank Of America Mortgage.