Friday, December 09, 2011

Class action alleges B of A scam

Courthouse News Service
SAN DIEGO (CN) - Bank of America found a new way to illegally extract money from customers, according to a federal class action: deduct taxes and insurance from mortgage payments, even though the homebuyers make those payments themselves, then call the mortgage in default for the unauthorized deductions, and charge late fees and penalties.

1 comment:

Anonymous said...

Yes and to add insult to injury, the bank would also demand an escrow account requiring twice the amount of contribution necessary to handle annual taxes