40% of Bank of America home loans are at least three months past due!

[strollingbones]

i wonder how many of these home loans are really past due.....i had a problem with boa...where they put my house payments in thin air for over three months...i had all records of payment...they admitted i had paid...but would not accrue the payments to my account....i have all kinds of letters from boa admitting it was their error.

 

[editec]

I don't understand how the bank could even be solvent right now? They would have to have a leverage ratio of 2.5 to 1 to still be solvent. But they were supposedly leveraged at 11.7 to 1. Where did they get the cash to keep the doors open?

TARP
​

 

[expat_panama]

40% of Bank of America home loans are at least three months past due!

About 60 percent of the 4.2m borrowers were up to date with their payments. The rest were at least three months past due, Mr Laughlin said.

My apologies to the doom'n'gloom crybabies, but the adults here may be interested in knowing that Bloomberg's original news report told about how Laughlin's '60 percent' had to do with a select 'bad loan' package that he was handling and that most BofA loans were fine. Here are all the loan delinquency/charge off rates, and the delinquency rate for all real estate loans for all banks is not even one in ten and foreclosures are less than half that. Screenshot:

was tacame