[11johara28]

I read the article and could not figure out the fraud involved.

Personally, if I was holding the note, I would want to be sure that coverage was in effect to protect my interest in the property.

[BobL]

“I read the article and could not figure out the fraud involved.

Personally, if I was holding the note, I would want to be sure that coverage was in effect to protect my interest in the property.”

Based on this article, it looks like people that did properly insure were told that their policies didn’t exist, or something like that...and then got slammed by Balboa for a new policy (which was worked into their escrow payments). At least that’s how I read it.

http://finance.yahoo.com/news/Hackers-Say-Bank-of-America-nytimes-2431503127.html;_ylt=AkAHF3h4OzH5pudpJmDk7L.7YWsA;_ylu=X3oDMTE1NnUwbXFkBHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNoYWNrZXJzc2F5Ym8-?x=0&sec=topStories&pos=4&asset=&ccode=

At least that’s how I read it...but I’m not I’m getting it right.