Some Hawaii homeowners feel that having a Bank of America mortgageÂ is not a day at the beach!
Well, I knew this for awhile now, but recently, I was traveling from a regular visit on the north shore of Oahu to see my daughter when I read an article in the Honolulu Weekly about Hawaii homeowners and their gripes with B of A. Seems it really is a reality for many folks and it includes all of those old countrywide mortgages that B of A inherited. Ouch!
Too much to process. So, the foreclosure documentation got rather rushed. From my vantage point, the foreclosure process seems preferred by this huge lien holder, and these Hawaii residents with mortgages with B of A really feel like they are talking to people on the phone that know less than a monkey about the situation. These homeowners are more than frustrated; some are researching alternatives.
I am familiar with these frustrations, as there are more than 2 or 3 B of A loans in my family, so hearing that B of A BankÂ reps are actually coming to the islands doesn’t bring a warm and fuzzy feeling unless something radically changed somewhere and well…
It is not just in Hawaii because back in the mainland 2 weeks ago, federal regulators hit B of A along with 13 other mortgage services for unsafe and unsound foreclosure practices! Going so far as to say that they would have to repay homeowners wrongfully foreclosed. Hmmm, sounds ugly. Some homeowners are joining the bandwagon to fight back.
I wonder what the future holds?