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Bank of America Forecloses on Home Over 80 Cents

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  • Description

    FBN's Liz MacDonald explains how an 80-cent typo cost a Florida man his home.

  • Duration 2:36
  • Date

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3% Bank of America -- starts for -- against a man who made an eighty cent mistake.

That he had tried to correct to set a moment ago this doesn't sound right so we have Bob Elizabeth MacDonald on it.

From the -- today kind of PR -- again for Bank of America what's the deal here.

Yeah that's right Connell is potentially an eighty cent typo cost of Tampa Bay Florida -- homeowner his home temporarily what's going on here is Tom moody.

Was -- a loan modification program at Bank of America are hearing is pictured in front of -- home.

Basically says -- cents in the payment over his own -- miss -- On his -- and they're wrong cents amount he underpaid by eighty cents he said he then sent in a check.

To Bank of America for that eighty cents with his next payment he says bank of America cash at eighty cent check.

And then the loan payment but he said the computer mercilessly kicked him back out.

It says he says -- the Bank of America sent back his eighty cent payment and a slow payment and they start to foreclose upon him.

But they have since corrected the problem not Connell Fannie make up back -- -- still waiting -- Bank of America what it did anything with Fannie Mae says the what is Fannie say it take a look at what Fannie Mae said about this -- -- it is essentially saying that.

We are pleased that Bank of America seems to have been able to fix the payment error and continue the trial modification.

It's important for borrowers and no there is help available to -- Fannie Mae owns the loan.

Bank of America was servicing at the trial -- period says that modification here it says.

Got to make every monthly payment for just three months to make a mistake you gonna get kicked ain't gonna get foreclosed upon.

And timely though says he's since fixed the problem will be -- does that kind of scary farm was he started get pamphlets from -- but charities like united way.

On how to transition quote transition out of your home he knew he was in serious trouble then when you saw those pamphlets but.

Both BofA and Fannie -- say they have since -- the -- Fannie Mae says you can also reach out if your item loan modification.

Problem to what any one of its twelve call centers across the country.

-- -- last thing -- Bank of America needed to -- talking about this you know other than this happening to cause us to talk about it after the whole.

-- the debit card stuff and and everything else yes.

Yeah that's right -- -- problems like you know -- charges assessed or zero credit card balance.

Or over -- you know payments that interest charges.

Another loans -- 00 B never this is rare CF foreclosure -- From an eighty cent type of experience -- eighty cents all right -- -- thank you very much -- you're gonna start he -- on the screen.

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