A class action lawsuit was filed against Bank of America in U.S.

District Court, Western District of Washington (Seattle), No. 10-00488, on behalf of Washington homeowners alleging that Bank of America reneged on a promise to modify trouble d mortgages as a condition to accepting twenty five billion dollars of federal b ailout money, according to a class action news report. The Bank of America class action lawsuit alleges that Bank of America agreed to take part in the U.S. Treasury Department s $75 billion Home Affordable Modificati on Program (HAMP) by accepting bailout funds from the Troubled Asset Relief Prog ram (TARP). Bank of America allegedly has not modified home owners mortgages as r equired by the program because doing so might cause it to repurchase more loans, collect lower servicing fees, or assess lower default charges because fewer pay ments would be deemed late. It is believed that Bank of America has perpetrated the same scheme in Florida. The law firm of Bailey Perrin Bailey is actively reviewing cases of potential cl ass representatives for class actions to be filed against Bank of America for de nying or otherwise delaying modifications qualifying mortgage loans. Contact an Attorney Now If you are a Florida resident who has received a secured mortgage loan from Bank of America, and Bank of America has denied or otherwise delayed the modificatio n of your mortgage loan, you may be entitled to compensation. Please contact the law firm of Bailey Perrin Bailey immediately for a free consultation by clickin g here, or call us toll-free at 1-866-716-8300.