Charlotte Observer-
A new lawsuit says Bank of America misled borrowers trying to hang onto their homes, pushing them into foreclosure while it enriched itself off a federal mortgage-modification program.
The suit, filed this month in federal court in Charlotte, is the latest to allege the Charlotte-based company abused homeowners seeking to reduce their mortgage payments through the Home Affordable Modification Program, or HAMP. The U.S. Treasury Department launched the program in 2009 following the financial crisis to help struggling homeowners avoid foreclosure.
Brought by 11 borrowers across the U.S., including one in North Carolina’s New Hanover County, the suit was initially filed last month in Mecklenburg County Superior Court before being moved to federal court. The suit says it involves individual borrowers after a federal judge in Massachusetts in 2013 denied a request to grant class-action certification for a case against Bank of America involving HAMP applicants from across the U.S.
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