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

Reblogger Brian Rayl
Real Estate Technology with Home Value Leads

Even real estate agents can fall on hard times, especially when life events happen. Gail's husband was diagnosed with pancreatic cancer and the market downturn had left them unable to pay for their home. 

Bank of America has refused to do a loan modification using bogus reasons. Ok, they may not be "bogus" because we all know how unorganized these banks are. How many times have we had to file the same paper on a short sale 18 times because it was "never received"? 

Big banks screwing over hard working individuals needs to stop. They are disorganized, sloppy, and heartless. Show them that people matter by reblogging the original article. Share it on social media and tag Bank of America on everything. 

Thank you.

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
1,227,060
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

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

Feb 08, 2013 05:10 PM #1
Rainmaker
1,513,013
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance
The problem is to in BOA, as much as in the faulty government programs like HAMP. There are no checks and balances, and HAMP is so narrowly focused, only a small percentage of applicants will qualify. I have done countless numbers of short sales for clients in the last 5 years and many were stiffed in their applications or loan mods by all the large conglomerate banks. As a result, I bank with only a credit union with dedication to community. Our government, from the Congress to the Executive Branch are completely out of touch with the American people.
Feb 08, 2013 06:07 PM #2
Rainer
126,248
Brian Rayl
Home Value Leads - Highland Park, TX
Active Agent and Co-founder Of Home Value Leads

Wallace it is happening all over the US. While of course I care that it is happening to one of our own, the fact that the sloppy work and uncaring attitude of the big banks is just appalling. 

Amen Norman. Do me a favor and share your comment on the original article as well and reblog it or write another price on the failures of the government and big banks and reference her article.

 

Feb 08, 2013 07:03 PM #3
Rainer
324,351
Scott Larson
BHHS/Utah Properties - Park City, UT
Park City, Utah Real Estate News

Brian, great to see this re-blogged on your blog as well.  My hope is that all of us here at Active rain really can make a difference for Gail.

Feb 08, 2013 09:15 PM #4
Ambassador
779,054
Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

I rarely re-post content, but this one caught my attention. Wishing Gail the best during these difficult times. As for Bank of America...Mom taught me not to type bad words!

Feb 08, 2013 10:38 PM #5
Rainer
126,248
Brian Rayl
Home Value Leads - Highland Park, TX
Active Agent and Co-founder Of Home Value Leads

Scott: That is my hope as well. 

Doug: If you can't say something nice... then tweet it or facebook it or AR it ;)

Feb 09, 2013 06:31 AM #6
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Rainer
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Brian Rayl

Active Agent and Co-founder Of Home Value Leads
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