It was, probably, more than a year ago, when I asked my daughter Inna to contact Gail and discuss helping Gail with the mortgage, so that she could stay in the house.
She thanked, but did not want to do it. She believed she would get the bank to agree to loan modification.
I did not believe even for a second, that BoA would grant Gail loan modification. I would love it to happen, but I knew they would say "no" for any reason or no reason whatsoever.
I will be offering some concrete steps not just to comfort Gail, but to help her stay in home, I simply need time until tomorrow, so please, come back to my blog tomorrow, as I would need your help to help Gail. We can't get it from the bank, but we can make it happen on our own, as AR members, as good people, and I hope we are.
Meanwhile, please reblog Gail's post. She hopes if we scream loud enough, the bank will hear. Let us honor this simple wish, but let us not bet on this hope.
Together we are stronger than Bank of America.
We can help.
Let's do it.
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.