Statements by BANKS: Spin Doctor or Continued Deception

In reading several articles this week, I was struck by ONE STATEMENT.  This statement was made by one of the largest banks with many internet reports of fraud-gate, foreclosure-gate and stupid-gate. The statement is an oxymoron on its face.  

 Bank of America emphasizes that borrowers who are current on their loans aren't getting thrown out on their ear  - Bank of America Home Loans spokesman Rick Simon 

What kind of stupid  remark is that?   This is possibly the most blatant attempt to cover-up the truth with the obvious.   Bank of America is well on its way to becoming a true laughing stock.  Read it again:

 Bank of America emphasizes that borrowers who are current on their loans aren't getting thrown out on their ear - Bank of America Home Loans spokesman Rick Simon 

Who in the world would EVICT anyone that is CURRENT on their "alleged"   loans?  So, what is your vote? Do you think this is just a moronic statement -  or a revelation of  a planned deception?


Dig much deeper behind the words and what you are seeing is either complete ineptitude with  a spin doctor that has no clue what is going on. OR,  (the explanation that  leaves me speechless) callous disregard for customers  and a plan to not deal with things in a legal way.


Last month another statement that caught my eye:
Bank of America spokesman Richard Simon said the bank “recognized past inadequacies and disappointments in our service levels” and had made “many changes leading to tremendous strides.”


The above statement was made in response to 4,327 complaints by customers to the BBB in past three years.   I guess processing false documents to evict people is the best improvement in customer service you can do. 


BANK OF AMERICA is not alone.. Chase has was rated "F" by the BBB last month. 
Chase spokesman Tom Kelly said  that his company “offered struggling borrowers more than 975,000 modifications since the start of last year.”  Notice they said OFFERED not granted


From personal experience I know Chase reps are nice and sweet but bottom line is  after you hang up - what happens behind the scenes is not helpful to many.  .   I have not looked up  how many have been granted - that is for another day. 


When you read news reports you have to look at what they ARE NOT saying.  Otherwise we will be doomed to be brainwashed sheep, believing the spin doctors for  the rest of our lives. 

BAC or Bank of America: Foreclosure Freeze is Nationwide 50 states

Statement from Bank of America Home Loans

“Bank of America has extended our review of foreclosure documents to all fifty states. We will stop foreclosure sales until our assessment has been satisfactorily completed. Our ongoing assessment shows the basis for our past foreclosure decisions is accurate. We continue to serve the interests of our customers, investors and communities. Providing solutions for distressed homeowners remains our primary focus.”  FURTHER INFORMATION  for customers:  1 800 809 0231 BOA customer 1-800 669 6607  Country Wide customer ************************************************************** MY EXPERIENCE:    I called the press line to ask question for my blog.  Left a message and await a call to answer my questions.  I called the hotline above - as a Country Wide customer.  The recording states that  they are BOA, a company that services  your home  loan.  Since I have been foreclosed and evicted last spring, I was surprised to learn that I show as active customer.  They are debt collector. And are recording my call for  quality assurance. Big surprise there, right?  I was cut off... so 2nd try.  Similar to above only there is no way around giving up your information. You must have account number or social and zip code. This time I pressed the button reflecting that  I wasn't interested in home retention division; but,   I was sent there and advised that they are debt collector.    After a few moments with representative I was transferred to the REO department. From there, I was placed on hold.   If you want to become an REO real estate person press 2.  Not me, I pressed 3 for escalation of REO.  We will see.  Another wait.... OOPS voice recording... your call was unable to be completed, please hang up and call the toll free number again.  I guess none of the choices applied to me. I think choice one was for finding REO properties, again I wouldn't' buy a foreclosed home unless deeply desperate. No thanks,  this is part of what my problem of dealing with Banks has been.  transfer, wait, transfer wait and a huge cell phone bill later!   Good Luck with your calls. If you are not evicted yet, then you will have a much better experience than me. :)