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

Reblogger Sharon Lee
Services for Real Estate Pros with Sharon Lee's Virtual Assistance

Hello Everyone-This is terrible to happen to anyone but this is truly tragic for this family and just NOT right. When you do everything you should do and the bank SCREWS it up and you pay the price it is just criminal. I pray for this family and for them not losing their home thru no fault of their own.  Please say prayers for this couple that the Bank does makes this right before it is too late

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
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Just makes me sick, sad, mad and reaffirms why I dislike BoA so much!

Feb 08, 2013 12:05 PM #1
Rainmaker
3,246,214
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Sharon

BOA have been bad actors with the foreclosures . . . . there making tons of fees in not working things out with the homeowners . . . . but hey it's our taxes dollars.

Good luck and success.

Lou Ludwig 

Feb 08, 2013 12:22 PM #2
Rainmaker
461,552
Sondra Meyer:
Star View Real Estate - Colorado Springs, CO
See It. Experience It. Live It.

This is horrible.   I'll reblog her post next week.  Try to spread it out a little.   My prayers are with Gail and her husband. 

Feb 08, 2013 02:22 PM #3
Rainmaker
3,028,863
Kristin Johnston - REALTORĀ®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

 I saw this a few time and reblogged it too...such a sad situation...I sure hope things turn out better for them!

Feb 08, 2013 11:11 PM #4
Rainmaker
1,049,962
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Thank you John, Lou, Sondra and Kristin. Anything we can do to help I am sure is appreciated.

Feb 08, 2013 11:43 PM #5
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

To be upside down in a loan is no one's fault Sharon and the sheer huge drop in market value puts massive stress on the homeowner. I agree with Gail that it seems like they just didn't want to do the loan modification and are just using not completed documentation as an excuse. Thanks for bringing this plight to our attention.

Feb 09, 2013 12:01 AM #6
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Sharon Lee

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