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

Reblogger Sharon Alters
Real Estate Agent with Coldwell Banker Vanguard Realty - 904-673-2308

Our ActiveRain friend Gail Robinson is going through challenges that would try the best of us and she is handling it like the champ she is.

Please help her get the word out and offer suggestions about Bank of America's notice of foreclosure even though she has complied with every document requested for her loan modificaiton.

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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Ambassador
2,341,139
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     This story must be broadcast across the Internet.  The American people need to know that Federal Government loan modification programs are not working, and that Big Banks do not care.


Feb 08, 2013 11:50 AM #1
Rainmaker
1,079,073
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Fred, so true. And if a Ph.D. with meticulous follow through is turned down, what hope has the average citizen?

 

Feb 08, 2013 11:59 AM #2
Rainmaker
875,273
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Sharon, BOA will be rather amazed.. I just reblogged too, and already there are 50! not to mention tweets and facebook.

Feb 08, 2013 12:12 PM #3
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Sharon - Bank of America knows the situation and still they have chosen to deny, which, to be honest, did not surprise me a tiny bit. The clerks who sent her the letter do not have authority to make decisions, they simply follow the rules and the procedure.

I would love to hope that they will reconsider, but I doubt it, unless we get to the higher echelon, who can make decisions different from their regular procedural rules.

I am sure we, members of AR, can do what BoA does not want to do, i.e. help Gail stay in her home. It is too late now, but I would see what could be done to help Gail. Maybe setting a charitable account, I just do not know at this point.

I am sure we can help. I will write the suggestion tomorrow (already today) and I hope you would join the ranks of those, who would help Gail.

Feb 08, 2013 02:53 PM #4
Rainmaker
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Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Sharon-I sometimes wonder who is getting these modifications if people like the Robinsons aren't being considered because of a technically.

Feb 09, 2013 02:40 AM #5
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Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Sharon  The horror stories about BOA just keep going and going - they should not even be in business

Feb 11, 2013 04:59 AM #6
Rainmaker
1,079,073
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL
Janis, wow! Jon, I will definitely be one of those who will help Gail. Adrian, I am sure it is some technicality. Karen, one wonders. This sounds very unethical.
Feb 11, 2013 07:01 AM #7
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Rainmaker
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Sharon Alters

Realtor - Homes for Sale Fleming Island FL
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