We are real estate marketers and affected as an industry by this fraud, and because of this we will be announcing a nationwide boycott initiative against Bank of America
Clearwater, FL (PRWEB) August 08, 2013
Citing the recent lawsuit against Bank of America filed on August 6th, 2013 (Civil Action No. 3:13-cv-446, USA v. Bank of America) in the western district of North Carolina, Charlotte Division, and the announcement on the DOJ's website, Florida real estate marketing SEO firm ARME Realty.com announces their, "1m Signature Bank of America Boycott Initiative."
In the lawsuit filed by the Justice Department, the government alleges in the suit posted on Justice.gov that Bank of America, "knowingly and willfully misled investors about the quality and safety of their investments", as its stated on the website. Attorney General Eric Holder alleges that the government wanted, "justice for those who have been victimized."
The residential mortgage-backed security for which the lawsuits have been filed are known as BOAMS 2008-A. Its worth is estimated to be around $850m at the time of issue in January 2008. The security inevitably crumbled while the housing market fell to pieces. According to the complaint filed investors lost an excess of $100m on their investments.
According to CNN by James O'Toole with CNN Money on August 6, 2013 at 4:22PM, in response to the allegations, the Bank of America states, "We are not responsible for the housing market collapse that caused mortgage loans to default at unprecedented rates and these securities to lose value as a result."
Simon Landers, a local author and publisher for the Florida company ARME Realty.com states, "Many experts I talk to still sometimes consider the real industry as the wild west. We as real estate marketers are affected by all news related to the real estate industry. The fact is, we don't know if the civil suit against Bank of America is true. Either way, we are moving forward with a national boycott initiative against the Bank of America. If we want to affect change we will do it ourselves."
"We are currently in the stages of producing an online ballot. Once we have reached 1M signatures we will take this to Congress and lobby for tougher restrictions against the same banks who are risking our money on losing bets", continues Simon. He adds, "Join the initiative and be a part of that 1M we need to go to Congress with this. Just your name number and email is all we need."
ARME Realty.com is a marketing company in Clearwater FL and specializes in online marketing and search engine optimization for real estate professionals nationwide. For more information on the company or press inquiries contact (727) 459-8841