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

Reblogger Anne M. Costello
Real Estate Agent with Weidel Realtors

Behind every foreclosure and loan modification is a story of real people facing real issues - job loss, business reversal. terrible medical issues. In this cases, they have all come together. Active Rainer Gail Robinson has shared much of her personal story here in the Rain with honesty, humor, grit and determination. She and her husband are real people who have worked hard and most improtantly have worked with their bank to find a solution. Let's hope that a senior level decision maker at BOA looks into this situation. All of the webinars in the world - and there have been many - are meaningless, when the right hand doesn't know what the left hand is doing.

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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Anne M. Costello
Weidel Realtors - Yardley, PA

Gail: I reblogged and you are always in my thoughts and prayers - whether I am in the Rain or not. I hope this seeming barrage of reblogs helps. Oy!

Feb 08, 2013 08:13 PM #1
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anne, I hope your   reblog will help Gail. There will be more comments from members .

Feb 08, 2013 08:16 PM #2
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

This is getting re posted so many times I lost count.  I just don't understand but there is a plan out there somewhere. 

Feb 08, 2013 08:22 PM #3
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Anne,

Good to see you back in the Rain. This is truly a sad story. There needs to be intervention by the headquarters in New York.

Have a great day in Bucks County.

Best, Clint McKie

Feb 08, 2013 11:47 PM #4
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Hi Anne, This was a good re-blog.  I had seen this story before and I believe with help from you and all others who shared this horrid story that things worked out for Gail in good way.  

All the best.


Mar 17, 2013 06:55 AM #5
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services
Great re-post Anne! This is very informative and easy to understand. This will really prove helpful to all readers out there. Keep it up!
Jul 28, 2013 12:51 PM #6
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