State alleges bank misled homeowners who lost their houses
(AP) - Attorneys general in two states filed civil lawsuits yesterday against Bank of America, alleging that the lender is misleading and deceiving homeowners who have tried to modify mortgages in two of the nation's most foreclosure-damaged states. Bank of America violated Arizona's consumer fraud law by misleading consumers who tried to reduce their mortgage payments, said the state attorney general. Hundreds of homeowners kept making their mortgage payments because Bank of America repeatedly assured them their loan was being modified, he said. Instead, many lost their homes anyway. More»
