Valley resident Miguel Lozania said he was approved for a loan modification, so he signed his paperwork and sent the bank the $900 fee.
“It sounded like it was going to work,” he said. “I even got a letter from IndyMac Bank saying they were going to do a modification.”
IndyMac foreclosed on his house anyway, selling the home for $70,000. Lozania’s original loan was for $205,000.
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I was also led to believe Bank Of America was working to save my house ,but instead forclosed on it.