Whistle-Blower: Banks Give Homeowners the Runaround [View All]

Whistle-Blower: Banks Give Homeowners the Runaround

800-Numbers Lead to Runaround as Banks Refuse to Modify Mortgages

A vice president for one of the nation's biggest banks claims customers looking for help in lowering their mortgage payments are often told to call an 800 number -- where he says representatives then give homeowners the runaround.

(snip)

The banker described homeowners pleading to him for help, but he said his bank is not interested in modifying mortgages, even after taxpayers helped bail out the nation's biggest banks.

"It's just not happening," said the banker.

The banker said there is significant pressure on bank employees to get customers to take on more accounts than they need because of the late fees and penalty fees that will then come from those accounts.

(more at link)

http://abcnews.go.com/WN/saving-middle-class-whistle-blower-banks-helping-americans/story?id=10178938


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doh! Sorry Edited to add link....