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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Bank of America is Sued by Insurance Companies for Massive Fraud


Bank of America is being sued by investors such as TIAA-CREF Life Insurance Co., New York Life Insurance Co. and Dexia Holdings Inc for "massive fraud." These investors and many others investors feel that they were taken advantage of in regards to mortgage backed securities.  The complaint was filed against Countrywide/Bank Of America on 01/24/2011 with the New York State Supreme Court. The investors believed that they were buying low risk loans from 2005 to 2007.  The investors received false documentation on the loans that they bought to support that they were low risk loans.