The latest post-housing crash/Great Recession bombshell: Former Bank of America employees have released sworn statements noting that they regularly lied to homeowners seeking loan modifications through the Home Affordable Modification Program that President Obama launched in 2009. They say they denied their applications for made-up reasons and were rewarded with bonuses or gift cards to retail stores or restaurants for sending homeowners to foreclosure.
And wait, as if that wasn't enough, there are even MORE stomach-churning details ...
At the same time, BofA claims the lawsuit, which is seeking class-action status, is "rife with factual inaccuracies," which it says it will address more fully in court. Should be interesting to see what they have to say about all of this ... and if justice is served, considering these alleged practices may have affected (and still be affecting!) so many innocent homeowners who, if any of this is true, should be INFURIATED.
What do you make of this news?
Image via JeffreyTurner/Flickr
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