Friday, July 20, 2012

"Despite reporting better-than-expected profits Wednesday, Bank of America continues to have a money pit in its home-loan market.

The bank, the nation’s second-largest by assets after JPMorgan Chase, said on Wednesday that it earned $2.5 billion, or 19 cents a share, compared with analysts’ projections of 14 cents for the quarter, as its expenses dropped and credit conditions improved.

The housing woes of the last few years are still taking a toll on the bank, however. Investors are increasing their demands that Bank of America repurchase soured mortgages, arguing the mortgages were improperly underwritten and sold in the first place."

We are just 1 in many with this more than stupid bank.  How they can post a profit and be as lame as they are is amazing to me.  Three years, going on over three years, that I still can not get an answer on two properties.  They just keep passing me off to a new specialist---all I've asked for is a solution (=form letter).

Please, please, do not bank with the big banks!

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