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

Reblogger Christine Donovan
Real Estate Agent with Donovan Blatt Realty 01267479

The banks may make their own decisions about who qualifies and who doesnt't for a loan mod. However, if they are going to deny them, shouldn't they give the real reason and not resort to a cop out?


At the very least, could they show mercy for a 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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Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Christine, I completely agree! Bank of America should some mercy and compassion. 

Feb 08, 2013 02:20 PM #1
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Thanks for reposting this Christine, it is an outrage that we the taxpayers forgive the debt of BOA, yet they lie to people and then throw them out into the street

Feb 08, 2013 02:22 PM #2
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Christine - the clerks who send these letters are not authorized to show any mercy. 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 02:32 PM #3
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA

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 #4
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Pamela - I hope they will for Gail and her husband.

Bob - Things just don't seem to work as they should.

Jon - I don't disagree that those on the frontlines can't help change policy at BofA, but I think they should not decline for failure to receive items that were sent.  Also, let me know if there will be something to help Gail.

Wallace - So true. I'm hoping the news will soon be better.

Feb 09, 2013 03:07 PM #5
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Christine Donovan

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