Bank of America to return $36 million of fees

The Federal Trade Commission (FTC) announced Bank of America (BAC) mortgage-servicing department will refund $36 million in fees to settle allegations of default-related fees.

BAC Home Loans Servicing charged many homeowners fees for default-related services that were allegedly illegal or not authorized under their loan documents. Also alleged –

BAC Home Loans Servicing charged fees for title services that were much higher than the maximum $500 disclosed on the company’s website.

BAC Home Loans Servicing, which also did business as Countrywide Home Loans Servicing (see footnote), agreed to the FTC settlement as part of a $25 billion global civil settlement reached yesterday (February 9, 2012) along with four other U.S. banks (Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial, Inc. which was formerly GMAC).

Keith A. Gantenbein, Jr. is a Colorado foreclosure defense attorney located in Denver and servicing all of Colorado. He also handles bankruptcies, mortgage negotiations, lender liability, real estate, civil litigation, contracts and landlord/tenant. If you think you will be facing foreclosure, or are in the foreclosure process, or have had a wrongful foreclosure, contact Keith Gantenbein at (303) 618-2122 for a one-hour consultation where he will discuss your situation and go over all your options with you.

This article is not intended as legal advice. The opinions of this article are solely the opinion of the author.

About theglawfirm1

Gantenbein Law Firm is a Denver, Colorado Tax Law Firm, servicing all of Colorado. Gantenbein Law Firm also specializes in Colorado Real Estate Law, Colorado Foreclosure Defense, Wills & Trusts, and Business Law.
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s