Re: Bank of America tries to help over 265,000 Avoid Foreclosure
While I empathize with some of the people having trouble meeting their mortgage obligations, I hope BOA takes a bath on this one. Why? Because for the most part they have themselves to blame for making loans to people who could not afford the payments.
BOA has proven they will do almost anything to increase their business. For example, you don't even need traditional proper ID to set up an account now. Well, you won't need ID if you're hispanic and can't speak English. In our area BOA is now Bank Of Illegal Immigrants.
BOA lowered their standards and changed the ID rules to capitalize on making a buck. I would bet they did the same thing in their mortgage business.
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