sgusers3的部落格

Source: The Montana Standard, ButteNov.迷你倉 14--HELENA -- Bank of America sent a Meagher County couple "on the road to nowhere" by having them cut their monthly mortgage payments to qualify for a loan modification program, but later foreclosing on their home, their attorney told the state Supreme Court Wednesday.Abraham and Betty Jean Morrow are suing the bank for fraud, negligent representation, negligence and breach of contract."Bank of America lied and made misstatements to the Morrows over a 15-month period," their attorney, David K.W. Wilson of Helena, said.But Bank of America's lawyer said the Morrows didn't qualify for the federal loan mortgage modification program because their Montana home wasn't their primary residence. The program is the Home Affordable Modification Program."They were reviewed for a HAMP modification and couldn't qualify because the home wasn't owner-occupied as a principal residence," the bank's lawyer, Kenneth Lay, said.While the couple lived in Montana for four months, they lived and worked in South Carolina over for 28 months over the period, Lay said.The court heard the Morrows' appeal of Helena District Judge Kathy Seeley's summary judgment in Bank of America's favor.The Morrows, who were from South Carolina, had bought 50 acres in Meagher County in 2003 and built a house there three years later.They refinanced the loan with Quicken Loans in April 2008, but then Countrywide Home Loans bought their note a month later and began servicing the loan. Bank of America acquired Countrywide文件倉later that year.The Morrows ran into financial problems when another couple from South Carolina bought their two businesses there, but defaulted on one and filed for bankruptcy on the other, depriving Morrows of $10,000 in anticipated monthly income.They informed Bank of America of its changing finances and were told to deliberately skip a payment to qualify for the modification program that would reduce their mortgage, their attorney said. The Morrows paid a reduced payment in December 2009 and also for the next 14 months, but the bank tried to foreclose on their home."As a result, the Morrows are on the brink of losing their home to foreclosure," Wilson said.An injunction has blocked the foreclosure attempt."Dozens and hundreds of Montanans have been treated the same way," Wilson said, adding: "The bank has a duty to be truthful."Lay told the court that the Morrows already were at the point of imminent default when they requested the loan modification, which was never approved."The Morrows clearly were applying for a modification that wasn't complete," Lay said. "It was pending."In response to a question from Justice Laurie McKinnon about the Morrows' modified payments, Lay said, "The bank is not disputing the Morrows were making trial payments. It was not enough to grant them a permanent modification."The court took the case under advisement.Copyright: ___ (c)2013 The Montana Standard (Butte, Mont.) Visit The Montana Standard (Butte, Mont.) at .mtstandard.com Distributed by MCT Information Services存倉