Trapped in Bank of America Hell

Are you one of the lucky ones? Have a good job, live in a nice neighborhood, enjoy your cozy home? Think foreclosure only impacts the reckless or the unemployed?

Think again.

George Mahoney worked and saved and built his cozy colonial-style home in Lynnfield, Massachusetts in 1981. There, he and his wife raised three lovely daughters. For many years, the Mahoneys paid down their relatively small mortgage with their local bank -- a division of Bank of America (BofA). In 2007, they took out a second mortgage to help a daughter start a small business. Two wage earners, a great credit record -- the loan was a breeze. That was when the trouble began.

About a year after getting the second mortgage, BofA started notifying George that his payments were late. Soon they jacked his credit card interest rates from seven percent to twenty-eight percent. Next, they ruined his credit record. His Sears card dropped from a $10,000 limit to a $500 dollar limit. Then one day in the fall of 2009, BofA initiated foreclosure on the house he had built and owned for 28 years.

The only problem? The Mahoneys had never missed a single payment on either their first or second mortgage.

American Tort Reform Association Issues "Judicial Hellhole" Report

The American Tort Reform Association, a front group for big chemical, tobacco, insurance, pharmaceutical and other companies whose products or pollution have been known to make people sick or kill them, has released its ninth annual "judicial hellholes" report which attacks judges and juries who hold their members accountable in court. This year's top "hellhole" is Philadelphia, which won in part due to its Complex Litigation Center, which was created exclusively to handle complex, mass tort cases like those regarding asbestos, hormone replacement therapy, nursing home litigation and suits against drugs like Avandia, Paxil, Phen-Fen and Risperdal. The Center's most recent cases involve pharmaceutical defendants who are being sued over birth control pills in the Yaz/Yazmin/Ocella mass tort. Plaintiffs allege that the pills caused injuries like pulmonary embolism, blood clots in the legs, heart attacks, strokes, gall bladder and kidney disease.

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Judge Who Ruled Health Reform Law Unconstitutional May Have Conflict of Interest

District Court Judge Henry E. Hudson, who issued the ruling that the new health reform law's individual mandate is unconstitutional, has at least a $15,000 ownership interest in the Republican consulting firm ''Campaign Solutions, Inc." Since 2003, Judge Hudson has pocketed dividends between $32,000 and $108,000 from that interest. Campaign Solutions played a big part in the 2009 elections in helping Republican legislators like John Boehner, John McCain and Michele Bachmann devise public messages to help turn public opinion against health care reform. All three legislators made dismantling health reform a part of their campaign platforms. In another potential conflict of interest, Virginia Attorney General Tom Cuccinelli, who challenged the new health reform law and on whose case Hudson ruled, paid Campaign Solutions $9,000 in the last election, so Judge Hudson decided a case in which one of the litigants was a client of a company he owns.

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