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

Reblogger Jane Peters
Real Estate Broker/Owner with Home Jane Realty BRE# 01439865

This is a crying shame.  Everyone should get the message out there.  Some inept bankster is dropping the ball, and none of it makes sens.

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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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

So many people have reached out to help Gail. I have a feeling that things may change for her.

Feb 09, 2013 04:28 AM #1
Rainmaker
1,558,015
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

There's a P.S. on Gail's original post Jane.  She updated the latest ad apparently she has been contacted by BofA.  She is so smart she made sure that the left hand knows what the right hand is doing.

Feb 09, 2013 06:11 AM #2
Rainmaker
1,156,411
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Melissa,  It looks like they minght.

Carla, that is great.

Feb 09, 2013 09:55 AM #3
Rainmaker
1,333,244
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Jane - My heart goes out to Gail and her family, hopefully BOA makes this right.

Feb 09, 2013 11:37 AM #4
Rainmaker
1,452,934
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

This is so sick and wrong, but from the comments it sounds like some progress is being made!  I sure hope so.

Feb 10, 2013 09:34 AM #5
Rainmaker
1,156,411
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Michelle,  it looks like they may.

Georgie,  they apparently took note and are working on it.

Feb 10, 2013 09:58 AM #6
Rainmaker
917,667
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Jane - I'm late to your post, but I did follow the original post, and apparantly BOA isn't used to this much negative attention, and they actually are moving in a positive direction. I try to convince my clients to use other mortgage lenders because this is really common.

Feb 11, 2013 04:28 AM #7
Rainmaker
1,156,411
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Larry,  I saw that.  Great news.  The sad part of all this is it takes an army to fight these guys.

Feb 11, 2013 08:05 AM #8
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