Stopping Foreclosure: When Banks Lie

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Back To Foreclosure Defense Video Help Page

Whether you are a homeowner or a foreclosure defense lawyer, if you are involved in stopping foreclosure on a home you need to realize something simple but discouraging: your bank may lie to you.

Sometimes, as in the situation described in the above video or addressed in other places on this site, those misrepresentations are not intentional. Banks are huge bureaucracies with thousands of employees and dozens of divisions, and in many cases the person you speak with genuinely does not know that they are giving you bad information.

But sometimes there is something darker going on, and that is what I want to talk about today.

Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376)

Stopping Home Foreclosure: Big Banking’s Gift Card Scandal

There have been a number of lawsuits against big banks for bad mortgage practices and deceptive trade practices. Numerous former employees have testified not just that these banks engaged in fraudulent mortgage practices, but that there were actual plans in place where they were encouraged to push homeowners into default and then foreclose on those homes. How were they encouraged? Employees alleged that these banks offered gift cards and cash as bonuses to employees who were able to get the highest number of foreclosures.

Another report making the rounds is where Bank of America is alleged to have denied homeowners’ applications for loan modifications through the government-sponsored HAMP program, and steering them instead into more profitable in-house loan modifications.

Stopping Foreclosure Calls for Taking Measures to Protect Yourself

Bank of America has denied these allegations. So who is telling the truth? This is not the first time Bank of America and other banks have faced accusations of mishandling the foreclosure process or deceiving consumers.

That is why it is important to talk to a Florida foreclosure defense lawyer at the first hint of a problem with your mortgage and make sure you get everything in writing from the bank. At least that way, you have verifiable proof if they attempt to engage in deceptive practices with you and can use that evidence to make a strong case for stopping foreclosure on your home.

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