Arizona, Nevada sue BofA over home-loan modification programs

12/19/2010 | Bloomberg

Bank of America's mortgage-modification programs were meant to help Countrywide borrowers avoid foreclosure, but the lender moved forward with foreclosures while modification requests were pending, Arizona Attorney General Terry Goddard said. "We are disappointed that the suit was filed at this time," said Dan Frahm, a spokesman for Bank of America. "We and other major servicers are currently engaged in multistate discussions led by Attorney General Miller in Iowa to try to address foreclosure-related issues more comprehensively." Nevada has also filed suit against the lender.

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