Former employees of Bank of America submitted sworn affidavits to a civil lawsuit claiming that the financial institution purposely stalled, delayed or denied home loan modifications. They also claimed that the bank enforced foreclosure quotas and gave bonuses to those with the highest foreclosure rate. So will Bank of America pay for these alleged practices? Richard Eskow, senior fellow for Campaign for America’s Future, gets into the details.
Tags: Bank Of America, Wells Fargo, Foreclosing On Homes , Foreclosure, Pretend & Extend Scam, Modification, Home Loans, BofA