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

Reblogger Jackie Hillen
Real Estate Agent with Melson Realty CA BRE 01723155

 

Shame on BOA - they are not listening to the customers that are trying, and want to save their homes. They continually ask for the same documents, then claim they were never received.  After hearing Gail's story, and her desire to work with them, they should not be making her jump through hoops, they should be saying, "how can we help".

 

The business side of me says "BOA - why would you not try and make this mod work - you will make money off all your fees and interest for many years, and you would have a loyal customer that appreciated you working with her in a time of need."

 

Gail, I will repost your blog in the hopes that someone will hear your story and help. Please know that my thoughts and prayers are with you and your husband during this difficult time.

 

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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Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Jackie, I have reblogged Gail's post too and will be tweeting on twitter every day. I agree, Bank of America should be saying "How can we help?" 

Feb 08, 2013 02:30 PM #1
Rainmaker
863,526
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Blog worthy of reposting for sure. BOA needs to get the message loud and clear. I have seen too much of BOA not doing loan mods that should have been done.

Feb 08, 2013 02:30 PM #2
Ambassador
1,720,911
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jackie - Bank of America knows the situation and still they have chosen to deny, which, to be honest, did not surprise me a tiny bit. 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 02:30 PM #3
Rainmaker
99,696
Jackie Hillen
Melson Realty - Porterville, CA
Tulare County ~ (559) 999-8088

Pam - What a great idea - to repost on twitter daily.  I will do that as well.

 

Sarah & Lee - I completely agree

 

Jon - I'm with you 100% - count me in - I will join whatever efforts we can put together to help Gail.

 

Thank you all for the comments.

Feb 08, 2013 02:35 PM #4
Rainmaker
1,227,060
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Thank you for REblogging this post - this is a horrible story and even more poignant because it is happening to one of our own

Feb 08, 2013 05:14 PM #5
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Rainmaker
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Jackie Hillen

Tulare County ~ (559) 999-8088
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