In February 2012 Pres Obama signed a National Settlement Agreement w/ the CEOs of America's four largest Banks: BOFA, Chase, Citi & Wells Fargo. Since then both BOFA & Citi have basically ignored the Terms of this Settlement. Especially Citi Mortgage! In fact Citi Mortgage is using Federal Funds to push out FAKE Loan Modifications! How is this being done? Four Ways: 1) Send Struggling Borrowers on a Wild Goose Paper Chase by asking them to send in the SAME Financial Docs over & over again. 2) Hire Loss Mitigation Specialists, Poorly train them & Use their names to Foreclose on Millions of Properties. 3) String Borrowers along on a Doc Chase until the Foreclosure Statue of Limitations in each state Expires. 4) Only allow a Handful of Borrowers to use HAMP Certifications.
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