Mortgage and Lending with SWBC Mortgage 410-960-2061 NMLS 196068

I have been holding off on this post for quite some time now, hoping to finally have a resolution, but no....GRRRRR!  BANK OF AMERICA PLEASE FORECLOSE!! angry, frustrated bridge

I have a client who as a result of a divorce put her house on the market in June of 2008 (yep, that is NOT a typo.)  After 2 contracts where the buyers pulled out, the latter with a super quick move-in making my client (a soldier) move into base housing to accomodate.  The buyer pulled out with less than 10 days to closing, leaving my client (my friend) high and dry.

In December of 2008 she stopped making mortgage payments at the suggestion of a Bank of America Rep with the explanation that "we can't even discuss the short sale until you are late on your payments.   Her ex-husband, also a soldier had already been activated and deployed to Germany.  She lost her housing allowance when she moved on base and was unable to make the payments anyway.  This seemed to be her best option.

Her Realtor referred her to a "short sale specialist" to help with the negotiation. Months later, with nothing happening, she and I called BofA together to find that the "specialist" had not contacted them in over 2 months, and that the paperwork was not complete.  She called them and demanded her money back, and got it.   Since she was heading to 2 back to back military required schools, I (albeit stupidly) offered to help negotiate the short sale on her behalf, with no expectation of compensation.


After 5 (yep 5) contracts starting at a whopping 1.5% net below the amount required to pay her loan in full and pay all costs and ending at almost 100K below the amount required, with repairs required per the appraisal due damage caused by burst pipes. This once lovely 4 bedroom colonial in a quiet community still stands empty.  I can only surmise that the homeowner's association has been cutting the lawn and maintaining the area around. The realtor has not been involved since the last contract fell.


The realtor was out thousands of dollarsin repairs just trying to get the final contract to setllement.  The final buyer walked citing "health concerns" about the condition of the property because of potential mold due to the busted pipes.  After unsuccessfully trying to get a contract through and having buyer after buyer walk, the seller (and I) were done trying.  She asked that I request a Deed In Lieu of Foreclosure in May of 2010. 

I contacted BofA, asked the procedure to do that.  I was told that they would cancel the short sale and send it over to the Deed in Lieu Dept, and that as the Power of Attorney (and the fact that the seller had since been deployed to Kuwait) someone would contact me within 2 weeks.  No Call, no surprise.  I have called at least once a month since (spending hours on the phone), each time being told different information, all of it wrong.  Asked for supervisors only to be told that they can't understand the problem, they see the notes about each contact, they will take care of it immediately, apologies for the inconvenience....blah, blah, blah.

Finally on October 1st, after hours on hold and being transferred I spoke to a self-proclaimed fixer of these types of problems in the BofA system.  I was told the short sale had been cancelled in June of 2009. He sent emails, ensured the short sale was cancelled and "escaltated" the issue to the right people.  He could guarantee that it would be taken care of and apologies, and blah, blah, blah.

I called yesterday after returning from my vacation to get an update.  GUESS WHAT?!  It has been RE-ASSIGNED in the Short Sale Team and the new negotiator would be in touch with me in a few days.  The short sale had not been cancelled in June of 2009, the deed in lieu had been cancelled then.  So sorry that you were told that.    WHAT????? THIS IS NOT A SHORT SALE ANYMORE, THE HOUSE HAS BEEN EMPTY since December of 2008, I Have spent HOURS and HOURS on the phone and on email being transferred,  disconnected, lied to, placated, escalated  only for them to SCREW IT UP AGAIN!!!  They can't get me to the "fixer", even though I had his full name, location and extension. 

I asked where to send a certified letter only to be told, "Sorry, no address, but you can fax it".  Would that be the same BLACK HOLE Fax machine we sent all the docs to multiple times?  Can you connect me to the negotiator? "NO, Sorry.  You can leave a message for her supervisor, he will contact you within 24 hours."   NO CALL, NO SURPRISE.

This is an FHA loan.  Bank of America has been collecting the mortgage insurance on this property and most likely 1000's (or Tens of 1000's like it),  Best case, they are incompetent, worst case, they are criminal.  The foreclosure moratorium should not extend to EMPTY homes.  We have begged and begged for them to take this home...I don't know what else to do, who to talk to...

I put it to you, my Active Rain friends....HELP!!!  I give up!  I don't want my client to have this on her plate anymore, she is already in harms way.   I don't want this on my plate any more, I have wasted too much time (and learned a hard lesson...we can't be responsible for everything.)

 GRRRR, Bank of America Strikes Again!!

Bridget....Maryland Mortgage Mama


UPDATE:  May 2011  Are Gleaming Hardwoods Supposed to be Bumpy?



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Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  SWBC Mortgage.   410-960-2061 EHO or


If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.


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April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

Bridget - I think you are best to give up.  I worked on a home for over 18 months with these jackaxx*s.  Let them foreclose in their own good time, it's NOT worth your grief.  Last resort - call your news media - they love stories like this.  Good Luck!

Oct 15, 2010 01:01 PM #1
Craig Alexander
Coldwell Banker Premier Properties - Front Royal, VA
Associate Broker in Virginia

I believe you need to send this post to your Congressman, your Senator, the President and any newspaper that will print it. 

Oct 15, 2010 01:01 PM #2
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert


You are so right. Banks set up barriers to short sales, barriers to deed-in-lieu, barriers to foreclosure. We want to help and the banks won't let us.

In the meantime the homeowner is on the hook for maintenance, insurance and laibility if someone gets injured. Borrowers WANT to cooperate with the lender and the lender refuse.

Oct 15, 2010 01:15 PM #3
Steve Davis
Davis Coastal Properties - Carlsbad, CA
Carlsbad CA

Where is Bernstein and Woodward when we need them. There is something very fishy going on and I would guess it is pretty high up in the financial industry - some of whom have gone to work for the current administration.

Oct 15, 2010 01:42 PM #4
Bridget "Mortgage Mama" McGee
SWBC Mortgage 410-960-2061 - Baltimore, MD
Maryland Mortgage Mama NMLS#196068

April,  They keep stringing me along with promises and apologies....I have felt so close, so many times only to have them blow it again.  I bet there are a lot of stories like this out there...I'd love to hear them.  I have actually had 5 clients in the last few weeks ask that I ensure that their mortgage does NOT go to Bank of America....Too big to fail?  I think not!

Craig,  My goal is to send this out early next week!

Dave,  Since both of the homeowner's are overseas, no one is handling the maintenance, insurance or liability. Her realtor tried very hard to help and got burned in the process.  I believe the HOA president lives next door and may be handling it.  SAD!

Steve and Carol, FISHY Indeed!  I believe we are only at the tip of the iceberg.  I just hope the country doesn't go the way of the Titanic as a result!

Oct 16, 2010 05:30 AM #5
Key Title Corporation - Perry Hall, MD
Insuring the Past to Protect Your Future


I would have given up long before you.  I like the suggestion of contacting the media.  You can try to contact your representatives but with the massive amount of foreclosure in Maryland they too are being inundated with requests for help.

As an REO title expert I see the end result of these debacles, but the stories I hear sometimes break my heart.

Nov 09, 2010 03:23 PM #6
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

WOW! I got two short sales pending. One from BofA that is going on 8 months. I am the Buyer's Agent though. Bank of America need to be very,very careful. They don't know that they are playing with peoples lives.

Dec 15, 2010 01:24 PM #7
Bridget "Mortgage Mama" McGee
SWBC Mortgage 410-960-2061 - Baltimore, MD
Maryland Mortgage Mama NMLS#196068

Charlene,  It is heart breaking.  I feel sorry for the neighbors, the house has been empty for TWO years and it's a great house!

Lanre, Best of luck to you and your buyers.  Since this post I have been in touch with a rep who is really trying her best to help but it keeps getting kicked from Deed in Lieu back to short sale.  It probably would have sold if the buyer would not have been so done after losing the 5th contract because of Bank of America's incompetence (read criminal) behavior!  We are still not officially in the Deed in Lieu department but fingers are crossed that this rep will get it done FINALLY!   The borrower has been in Kuwait for almost a year and this is STILL not done!  Despicable!! 

Dec 15, 2010 01:45 PM #8
C Davis

I have been dealing with this for SEVEN years. Two short sale offers BOA wouldn't take and FIVE Deed in Lieu appllications that were cancelled at the last minute with "oops, we've sold your loan". I'm done. I don't even have keys to the house! They have had them since 2007. Frustrating!

Jul 07, 2014 09:01 AM #9
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Bridget "Mortgage Mama" McGee

Maryland Mortgage Mama NMLS#196068
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