After three years of filling out loan modification paperwork and sending it in, I was informed via a phone call today from Bank of America that my loan modification was declined on 2/1/13 as I didn't submit all the documents. Bank of America continues to state this as a reason for declining my loan modifications, but I give them everything they ask for and then have my HUD counselor review it for completeness. Anyone who knows me knows how organized and detail-oriented I am. I have a Ph.D. from Columbia University and that required an incredible attention to detail. I know I submitted all the documents required as I carefully reviewed every request and my HUD counselor, Michael Haynes, of the Neighborhood Housing Services of New Haven reviewed them.
This seems to me to be a bogus excuse. I think they just don't want to do a loan modification. Although why BOA would want one more foreclosure in Bridgeport, Connecticut is beyond me. They aren't going to sell the home for more money than I would pay for it. I bought this home at the peak of the market in 2005 and paid $400,000. It is now worth no more than $250,000. I'm earning a good income now, my income tanked when my husband became ill with pancreatic cancer three years ago and our expenses have been high due to the cost of medications, travel, and treatment. We also lost his income when he became ill. We were both in real estate and the market downturn left us with less money at a time when we needed more.
As you know, my husband has Stage IV Pancreatic Cancer and he is getting hospice care in our home. I haven't told him yet that our home is going into foreclosure. BOA says to consider a Deed in Lieu of Foreclosure or a short sale and just leave, but my husband wants to spend his final days in his own home. Is that too much to ask of a big heartless organization? Probably. But don't you wonder where all that Mortgage Settlement money went to? Weren't the lenders supposed to be doing more loan modifications instead of allowing homes to go into foreclosure? What the heck are they doing with that money anyways???
It makes no sense at all to me, but my hope is that if you would reblog this post that BOA will notice it on social media, reconsider their decision to foreclose, so that I don't have to tell my husband that our home is going into foreclosure. He's been going through a tough time over the past few weeks and my fear is this will cause him enough stress to push him over the edge emotionally and physically.
I trust in the power of AR to get the word out and in your love and kindness to support me at this time as I try to be strong for my husband. Thank you.
6 PM 2/9/13 UPDATE: Two Social Media managers from BOA contacted me today and my case will be sent to their Escalation Team. I will know more on Monday and will post an update in a new post. Thank you all for taking the time and effort to reblog, Tweet, share on FB, post on Google+, and for your comments/calls/e-mails. AR may not be a face-to-face group, but we are a community in the true sense of the word - a group of people who care for one another and help each other in their time of need. Thank you my AR family from the bottom of my heart.
Three calls today from BOA and I now have one point of contact for dealing with them. I haven't anything to report yet, except that this time it seems like my loan modification has been fast tracked for priority review. I will report back as I know more. I really appreciate your help. I should know more by the end of the week. I'll keep you informed. Thank you so much! This wouldn't have happened without your efforts. I'm very grateful to my AR friends! Thank you!
BOA told me the loan modification was approved by underwriting and is on its way to Fannie Mae for their approval. It may take two weeks before we get a response from them. Keeping my fingers crossed! Thank you! This wouldn't have happened without the active support of my AR friends.
Today a FedEx package arrived from BOA with all the documents to sign for a trial loan modification! I need to talk to my HUD counselor, but it looks like they really did their best to get me the lowest payment possible. I told my husband today and he was very relieved. He's in the hospital right now fighting for his life with a massive infection (they don't know the source of the infection yet). Tomorrow will be his birthday and it was three years ago tomorrow that he was diagnosed with pancreatic cancer. This was a wonderful birthday gift. Please keep him in your prayers for one miracle. I would like him to return home and feel good enough to celebrate a belated birthday. I don't want this to be the end, but I know it could be. You've done so much for me my dear AR friends and I have no right to ask for one more favor, but if you could put him in your prayers for another miracle, I would be very grateful. I love him so much and it's hard to believe that this could be the end.
My husband is still in the hospital. He has been fighting three massive infections and is still on IV antibiotics. We just celebrated our 8th anniversary yesterday (as much as you can celebrate under these conditions). Thank you for your prayers. He did indeed rally and I am hoping he is on the road to coming home, but it's still up and down. I made my first trial loan modification payment thanks to the power of ActiveRain. Thank you for helping us get this loan modification. We should know about the permanent one by July. I'll keep this post updated.
Now that this post is listed as one of the top five most commented upon posts of 2013, I should provide an update for those who haven't been following me. He did come home from the hospital and entered in-home hospice. He enjoyed seven more weeks of life before he lost his battle with pancreatic cancer. He was relieved that I had received a permanent loan modification before he died. He loved our home and I wanted to be able to stay here afterwards because we have so many memories together.
Real estate has picked up in my area and I had a successful year. I deeply appreciate my clients who stayed by me through these difficult times. I never let my clients down, no matter what was going on in my personal life.
Thank you to everyone in the ActiveRain community who reblogged, Tweeted, Google Plussed, and so much more. BOA responded right away and thanks to the follow up from the AR community, BOA finally gave me a permanent loan modification just before my husband died. I'm in awe of how the AR community came to my aid in my time of need. This an amazing community, a real community, in fact I often call you my "AR family." Thank you!