Shocking news hit the internet last week about Bank of America and its deliberate denial of Loan Modifications to hundreds of thousands of borrowers. In a pending class action suit, two whistleblower employees of Bank of America, Simone Gordon and William Wilson, both gave startling Affidavits stating that they were ordered by their superiors to deny loan modifications, lie to borrowers about the status of their modifications and not process them, and lie about documents being received, when in fact they had been. Borrowers, who often complain that loan modifications are so tedious and time consuming, as well as frustrating with the lenders not receiving documents, now have an explanation. They were received, just not ethically and lawfully processed.
Simone Gordon and William Wilson, and the pending class action, shed light on the practices of Bank of America internally and its role in the loan modification arena. “I lied because I was told to lie” is how Simone Gordon put it.
Thousands of borrowers who may have been eligible for a modification of their loan, may have in fact lost their home in foreclosure due to the unlawful practices of Bank of America.
You can read more about the suit here as well as both affidavits.
If your loan modification was denied or you lost your home and Bank of America was your lender, contact us to see what can be done.
Jacqueline A. Salcines. Esq.
Tel: 305 | 669 | 5280 or email me direct at J.Salcines@Salcineslaw.com
Offices located at: 706 S. Dixie Highway, Second Floor, Coral Gables, FL 33146
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