Friday, December 17, 2010

Arizona accuses major bank of defrauding mortgage customers

http://azstarnet.com/article_d385fb20-0a12-11e0-8afb-001cc4c03286.html

Filed suit at the Maricopa County Superior Court?
Now what exactly does that mean?
Criminal charges?
Because anything less makes the AZ Attorney General look inept, since he was the one, that actually termed the banks action as defrauding.



The Arizona Attorney General's Office filed suit today

against Bank of America, accusing it of defrauding its mortgage

customers.

The state contends the bank, the largest servicer of home loans in

Arizona, engaged in practices which led to hundreds of

people being ousted from their homes even as they were being told

their mortgages were being modified. That even included at least

one instance where the homeowner was current on her mortgage and

had never been late with a payment, prosecutors said in a 35-page complaint filed in Maricopa County Superior Court.