Bank of America and Wells Fargo to be sued by New York

[droidamus2]

3. That's what they did to me

I was unemployed and running out of money so I applied for a refinance to see if I could get the payments to a level I could pay. I couldn't walk away from the home because I had put 50% down and did not want to lose the investmen.
Since any back payments owed would be rolled into the new loan I was't (actually couldn't) pay the payments. Nine months later they came back and said i didn't qualify and told me they were going to foreclose.

Fortunately unlike many people in this country I was able to get into a good training/job program and about the time I was going to start work B of A approached me with a chance to get a new 40 year fannie Mae loan. I was able to scratch together the money to make the three trial payments and get my home out of foreclosure. With a little more understanding and help the whole mess could have been avoided.