Today I Was Told by BOA My Home is Going into Foreclosure

Reblogger Charita Cadenhead
Real Estate Agent with Keller Williams Realty

The heartless acts of banks such as Bank of America continue to diminish any sign of humane behavior.  We know that business is business right?  But what about homeowners that meticulously provides every document requested and abides by the rules and procedures for working with the bank?  How do they, the homeowners, still wind up on the losing end of the stick.  Combine that with a woman living, working and caring for a spouse in hospice care, and all under the threat of foreclosure.  Surely banks, including B of A, has the power to postpone their decision to foreclose.  Particularly since the reason fore the foreclosure is likely due to the incompetent actions of a BoA employee.  This is a reblog in an effort to get the attention of major decision makers at BoA in hopes of allowing Gail to stay in her home and care for her husband.

Original content by Gail Robinson RES.0772823

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.

 

 

Fairfield County CT Real Estate 

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
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I read it earlier...... Can't stop thinking about how furious just thinking about BoA makes me!  Just reaffirms my disgust for them!

Feb 08, 2013 11:17 AM #1
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Laurie Roberts
RE/MAX Achievers - Frederick, MD
Laurie Roberts

From the post I can't tell if BOA is the servicer or owner of the loan. If you keep trying different phone number at BOA you may get lucky and find a person that can help.   What I would suggest is to file a complaint with the Office of Thrift Supervision and they will investigate. If you state offers mediation before foreclosure please do the mediation.  Maryland offers this for owners.

 

 

 

 

Feb 08, 2013 11:52 AM #2
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Charita Cadenhead

Serving Jefferson and Shelby Counties (Alabama)
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