34 Responses to “Bank(rupt) of America: Will Bank of America File Bankruptcy?”

1. » Subprime Blogger » Bank(rupt) of America: Will Bank of America … » Subprime Mortgage Refinance
   January 20th, 2009 @ 11:13 pm

   [...] news by unknown « Supreme Court to Hear Mortgage Regulation Case About Mortgage Fraud | Boise Idaho [...]

2. Offshore Services » Blog Archive » Subprime Blogger » Bank(rupt) of America: Will Bank of America …
   January 21st, 2009 @ 4:25 am

   [...] See the rest here: Subprime Blogger » Bank(rupt) of America: Will Bank of America … [...]

3. lisa
   January 21st, 2009 @ 7:57 am

   I AGREE, WHY DID’NT BOFA LOOK MORE CLOSELY AT COUNTRYWIDES’ SUB PRIME ACCTS? what a foolish investment.

4. Lorraine
   January 21st, 2009 @ 8:23 am

   That’s great. Since I owe B of A $ 11,000.00 and am going to file bankruptcy myself, I shouldn’t feel too bad. At least I am not alone, having been fired from my job of 30 years. Next stop….welfare! And yeah, I have minor children in the home who now have NO HEALTH CARE!

5. John
   January 21st, 2009 @ 9:35 am

   While on the topic of BoA’s purchase of Countrywide, I am an attorney who has seen a number of clients with stated loans that are ARM’s with Countrywide, that the homeowner had no chance of ever being capable of making payments. Can someone advise me of what actions to take when Countrywide denies a request for a loan modification?

6. Fran
   January 21st, 2009 @ 11:07 am

   And they have the nerve to go after people who they were abusing financially with interest, late charges and jumping payments without a legitimate reason. Didn’t Australia bail them out a year or 2 ago? Shame on them. But the rich don’t pay the pauper, they just try to squeeze every ounce of blood left out othem….

7. SMRTNUP
   January 21st, 2009 @ 11:28 am

   I don’t understand why, . . at the time of finalizing the deal to buy Countrywide on 1 July, 08, that B.O.A. people couldn’t see the writing on the wall and just simply not follow through with finalizing that deal. . . Why not ” JUST SAY NO ” ? . . . It wouldn’t have been the first time that somebody backed out on a deal ( For Good Cause ). . . I guess getting too big and too confident leads to blindness. . . And, . . Being too proud to say ” I CAN’T ” leads to brokeness.

8. Sherri
   January 21st, 2009 @ 12:18 pm

   I’d like to sue BofA for not paying interest on a CD I signed up for 2 years ago and for removing my name off of an IRA my mother opened for me. Know any willing lawyers?

9. Gini
   January 21st, 2009 @ 12:25 pm

   If BOFA files bankruptsy will this effect our ss checks? Should we consider moving our accts? I agree on the buying of Countrywide. I can’t imagine what they were thinking to do so.

10. george
    January 21st, 2009 @ 1:04 pm

    What caused this mess? Greed!! Bank of America saw this as an opportunity

11. gmiller
    January 21st, 2009 @ 2:04 pm

    no more bailout money they blew the bailout money the first time taxpayers need the money

12. Mark
    January 21st, 2009 @ 2:12 pm

    You’re forgetting about their purchase of M Lynch, most probably a 40 billion dollar blunder since they could have picked it up for under 10 billion dollars if they waited a few days…

13. Chuck
    January 21st, 2009 @ 3:55 pm

    I wouldn’t doubt that they do file before too long. When the government started ignoring the Clayton and Sherman Anti-trust Acts the decline of our banking and manufacturing industries started their fall. There is no competition anymore–the big boys just buy out the competitors and pay off the politicians to get more of what they want.

14. Dawn
    January 21st, 2009 @ 4:53 pm

    What happens to those of us who have mortgages with BoA? Does anyone know? Great we work our fingers to the bone to keep up with our house-payments and those idiots go bankrupt!

15. Chuck
    January 21st, 2009 @ 5:52 pm

    I had accounts with B of A for close to 40 years including their credit card. Once they started charging fees for everything and firing tellers I had had enough. Then on their credit card they shortened the pay time from 21 days to 5 or 6 days and I said just cancel it. It was all for greed and that is what’s going to sink the entire banking industry if someone doesn’t know some heads together and put some regulations back on the industry.

16. Robin
    January 21st, 2009 @ 6:28 pm

    I know what B of A was thinking. They knew all of those foreclosures were coming and they would end up owning the property… that’s how they have always been. At the price they bought Countrywide for, they figured the could sell the foreclosed homes for pennies on the dollar and still break even. SURPRISE! Those houses aren’t moving quite as fast as they thought. BofA has always been an opportunistic and greedy bank. When I worked for them in the 80s we used to sing their slogan reworded as “Bank of America . . . we own your house . . .”

17. Vivian
    January 21st, 2009 @ 6:48 pm

    If I owe on a credit card to b of A and they go bankrupt, is my balance 0?

18. Vivian
    January 21st, 2009 @ 6:49 pm

    If I owe on a credit card to B of Am. and they go bankrupt, is my account void?

19. Patrick
    January 21st, 2009 @ 7:12 pm

    I agree that the Countrywide deal was just so Stupid and Dumb. It made absolutely no sense whatsoever. And When I heard that Bank O American was also purchasing Merryl Lynch and its pile of toxic assets, I knew then that there were NUTS, and WAAAY over their heads. So, I am not surprised at All.

20. bernie
    January 21st, 2009 @ 8:13 pm

    THEY BOUGHT COUNTRYWIDE BECAUSE THEY KNEW THEY”D GET A HUGE BAILOUT LATER AND ITS COMING, Wait and see,,,I’m buying their stock.

21. bfgair
    January 21st, 2009 @ 8:23 pm

    WAIT A MIN. What happened to all that money they made trading on the oil market that drove the Gas prices so high. I was lead to belive that they made more money than Exxon on those deals. Did they just happened to have lost track of all those Billions? We as American consumers once again take it in the shorts. Please lets find a judge that will be as fair to these folks as they have been to us real Americans. Or maybe they are just looking for a hand out grom the goverment so that upper managment can get their bonuses. ISN’T IT ABOUT TIME WE PUT OUR FOOT DOWN AND SAID NO TO THE THEIVES.

22. Erich
    January 22nd, 2009 @ 6:36 pm

    Bankrupt does not mean out of business. In a worst case scenario, the bank would be nationalized and put under govt. control. It’s too large to simply go away. So if you have a debt to them (credit card, mortgage, car loan etc.), nothing changes…unless, of course, you can manage to negotiate a change of terms.

    As far as I know, BoA was not a major player in commodities trading, so I don’t think they made any substantial amount on oil’s recent spike. Goldman and Morgan Staley perhaps, yes…but not BoA.

23. Subprime Blogger » Who Pays $87,784 For An Area Rug?!? Merrill Lynch CEO John Thain
    January 22nd, 2009 @ 6:47 pm

    [...] Bank(rupt) of America: Will Bank of America File Bankruptcy? [...]

24. Dave
    January 23rd, 2009 @ 10:40 am

    This Country is obviously going through historically tough times. Regardless of what people say, we are in a depression and the new Government is just going to make it worse.
    With that said, we will eventually recover. When the recovery starts, B of A will benefit extremely well from the purchases they have made today. Don’t forget to look ahead. The financial services industry is not going to go away regardless of what some people say. Mortgages and Credit Cards, although regulations on them may change, will not go away.
    B of A will obviously go through a painful restructuring, but once that is done, will be in a position to lead the industry.

25. Mortgage Lender News: Bank of America, John Thain and Bankruptcy - Mortgage Rate News
    January 23rd, 2009 @ 2:51 pm

    [...] of America, it turns out, wasn’t as fundamentally sound as everyone thought. Subprime Blogger shares some of the woe that has befallen Bank of America since then: Why would Bank of America purchase Countrywide Financial for $4.1 billion?  On January 11th, [...]

26. Brook
    January 28th, 2009 @ 4:45 pm

    Up until now, I had an average experience with B of A. Right now, they have placed a hold on a check that I have deposited… I’ve deposited from this company several times and for even greater amounts of money. I have never had an over-withdrawal issue… I am in good standing. They are holding my money from me for 10 days without telling me why. I know this is standard and blah blah blah, but why NOW? It’s because they’re hurting and they need to keep my money so they can get free interest on it. Certainly we are technologically advanced enough to where this could be cleared within hours… and given my good history and the fact that I’ve had far larger deposits and several of them from this same company, I don’t see any reason why they did this. Neither do they, apparently, because they cannot tell me why.

    Once they give the money back that they stole from me, I’m pulling out completely and putting all of my money in my credit union accounts.

27. New Banking Laws Foreclosures
    January 29th, 2009 @ 3:26 am

    ? Seriously? I was searching Google for new banking laws foreclosures and found this… will have to think about it.

28. Shawn
    February 15th, 2009 @ 8:59 pm

    I believe that the US GOVERNMENT FORCED Bank of America to purchase Countrywide AND Merrill Lynch to “avoid further financial turmoil” (as they would describe it). The Merrill and B of A bonuses are being paid SOLELY to salve the wounds of those in B of A and Merrill who were FORCED (against their will and financial judgment) to make these deals to save the otherwise unsaveable.

    (JPM Chase had already bought two large and failing institutions on its own or was virtually in contract to do so– see Bear Stearns and Washington Mutual; Citicorp has its own troubles, so B of A was the ONLY institution that could even ATTEMPT to absorb Countrywide and Merrill Lynch. This is why I believe the US Government “put the squeeze” on B Of A to make these deals.)

29. victor feeney
    April 19th, 2009 @ 4:24 pm

    To whom can help

    I have been a target of countrywide, inabilities and practices of bad business practices,

    We had a 30 year note with Chase and never late,

    Now with Countrywide and was promised a refinance on a 15 years note to 30 year note with there new Modification loan program this started in Feb 2009, and we call every month several time to ask about it and was told everything was Ok and will hear something shortly.
    That was in March, Lisa James

    We heard something alright on April15 a notice to Foreclosure, and need to come up with 2 months payment and the Mays payment also

    We call several times and talked to 6 people with no help just Phone tags

    So we when to the Locale office and the Person we first talked to (Jason Guinther) was there we told him the story and the he call countrywide, after talking to there office for 30mins, he said they were never going to notified us that we don’t qualify for the program or even why,

    The inability for them to notified us doesn’t constitute an hardship for us,

    I thing they encourages there people in this tactics,

    Can anyone help us and advise a place to call anything

    Vwf4506@insightbb.com

    I only have till May the 8 according to the letter

    Thanks very much in this very important matter

30. Subprime Blogger / Daily Mortgage Rates News - Subprime Will End Bank of America?
    May 6th, 2009 @ 3:26 pm

    [...] harsh, yet honest, in my thoughts about Bank of America.  In January I posed the question “Will Bank of America File Bankruptcy?”  This was prior to main street realizing just what was going on behind closed doors in [...]

31. Daily Mortgage Rates News - Subprime Will End Bank of America?
    May 18th, 2009 @ 6:44 am

    [...] harsh, yet honest, in my thoughts about Bank of America.  In January I posed the question “Will Bank of America File Bankruptcy?”  This was prior to main street realizing just what was going on behind closed doors in [...]

32. pligg.com
    May 26th, 2009 @ 7:11 am

    Subprime Blogger / Bank(rupt) of America: Will Bank of America File Bankruptcy?…

    Will Bank of America file bankruptcy? Is that really a question that we are asking? Yes it is and it is actually quite possible. Bank of America is the largest financial services company in the world.

    Unfortunately for Bank of America, the financ…

33. vivtor feeney
    August 23rd, 2009 @ 9:14 am

    how that BOM has taken over countrywide there is little or no change in how they do business it is now been 9 months, now I’m told that we can refinance my loan with FHA but BOM said we need to be 4 months behind before they can do any thing what’s up with that?

    I need a address or phone number ot someone that can hel me Thanks
    To whom can help

    I have been a target of countrywide, inabilities and practices of bad business practices,

    We had a 30 year note with Chase and never late,

    Now with Countrywide and was promised a refinance on a 15 years note to 30 year note with there new Modification loan program this started in Feb 2009, and we call every month several time to ask about it and was told everything was Ok and will hear something shortly.
    That was in March, Lisa James

    We heard something alright on April15 a notice to Foreclosure, and need to come up with 2 months payment and the Mays payment also

    We call several times and talked to 6 people with no help just Phone tags

    So we when to the Locale office and the Person we first talked to (Jason Guinther) was there we told him the story and the he call countrywide, after talking to there office for 30mins, he said they were never going to notified us that we don’t qualify for the program or even why,

    The inability for them to notified us doesn’t constitute an hardship for us,

    I thing they encourages there people in this tactics,

    Can anyone help us and advise a place to call anything

    Vwf4506@insightbb.com

    I only have till May the 8 according to the letter

    Thanks very much in this very important matter

34. So funny
    December 15th, 2009 @ 11:01 pm

    Wow! How dumb does this blogger feel a year later?! Really?! Bankruptcy? No agenda?

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