Bank of America Strikes Again

Reblogger Marte Cliff
Services for Real Estate Pros with Marte Cliff Copywriting

We hear story after story of homeowners being strung along for years with the promise of a loan modification, only to be foreclosed upon after paying thousands in temporary payments.

As Gail says, weren't the banks supposed to start helping instead of hurting as a result of the lawsuits?

Yes, they were supposed to. But Bank of America seems to think it's above any rules and regulations. Their scheme is to take every dime they can get from homeowners, then kick them in the teeth.

Hey Bank of America! Do the right thing for once. Help Gail keep her husband in their home during his last days.

And Hey Active Rainers! - make sure they hear this message. Re-blog Gail's post - share it on Facebook, LinkedIn, Google +, and Twitter - and anywhere else you hang out.

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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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Marte- 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 to morrow (already today) and I hope you would join the ranks of those, who would help Gail.

Feb 08, 2013 02:05 PM #1
Rainmaker
1,508,210
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Jon - The reason I think we should all re-blog and share is that I have heard of these banks paying attention when these stories get loud enough. It just MIGHT get to that higher echelon. We know they CAN help if they want to - we just have to make them want to.

Feb 08, 2013 02:19 PM #2
Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Hi Marte, I have re-blogged the post too and sent it to twitter. Every little bit helps. I will tweet every day with #BankofAmerica - they will notice, now will they do anything? It's worth a try if we all do it. 

Feb 08, 2013 02:22 PM #3
Rainmaker
1,508,210
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Pamela - I don't use Twitter enough - so I had forgotten about the # - Thanks for the reminder!

We know they CAN help - "Will they" is the question.

Feb 08, 2013 02:33 PM #4
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks for reposting this Marte!

Feb 08, 2013 02:59 PM #5
Rainmaker
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Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Bob - I'm glad to. I hope we all do.

Something just occurred to me - what if someone could do a video of Gail briefly telling what she's been through - and how they strung her along all this time. Who lives near her and knows how to do that?

Feb 08, 2013 03:10 PM #6
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I sent  a note to the local newspaper, maybe I should have sent one to the tv station too.

Feb 08, 2013 04:42 PM #7
Rainmaker
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Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Bob - That's an idea. Gee... maybe we could get Fox News to do a story.

Feb 08, 2013 04:58 PM #8
Rainmaker
1,229,110
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 05:13 PM #9
Rainmaker
596,498
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

Thanks for re-blogging this post Marte, I re-blogged also. I know there are those who don't think it will do any good but I'm not one of them. Twitter has been especially effective with customer complaints in the past.

Feb 08, 2013 05:45 PM #10
Rainmaker
905,348
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Marte Cliff, thanks for the re-post I was with a Seller yesterday on this very subject.

Feb 08, 2013 08:19 PM #11
Rainmaker
592,740
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

This one is ending up all over the net. Guess that is the best pressure possible.

Feb 08, 2013 10:59 PM #12
Rainmaker
1,013,071
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Whenever I hear Bank of America is doing the short sale, I think very hard before even taking it on.  I used to have a Countrywide/Bank of America mortgage on my own home, but refinanced it a year ago with my credit union to get rid of that horrible bank.

Feb 08, 2013 11:05 PM #13
Rainmaker
1,508,210
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Wallace - Yes, it's horrible no matter who it happens to, but hits us all hard because we care about Gail as an individual.

Nancy - I've heard that, so I encourage all of us to keep tweeting the story!

Bob - It really is a shameful example of corporate greed getting in the way of both common sense and human compassion.

Than - Good. I hope it keeps growing. Maybe we'll have to promise to also send it far and wide if BOA decides to step up and do the right thing.

Rob - Good move!

Feb 09, 2013 04:40 AM #14
Rainmaker
875,533
Janis Borgueta
Key Properties of the Hudson Valley - Newburgh, NY
LIC RE Salesperson

Yes Marte, I think if we make enough noise.. and we are.. that they will at least reconsider! ActiveRain members rock.. and i for one am proud to be a part of this noisy crowd! BOA - listen up!

Feb 09, 2013 08:57 PM #15
Rainmaker
1,508,210
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Janis - Yes, we are making noise, and I hope we keep it up until someone with authority at BOA sees it and decides to help. That reminds me - it's time to go Tweet!

Feb 10, 2013 02:12 AM #16
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