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

Reblogger Barbara Todaro
Services for Real Estate Pros with RE/MAX Executive Realty 104763
https://activerain.com/droplet/Qvk

I'm so sorry that you are dealing with this horrible situation during such a critical time in your life.  I hope that many on ActiveRain will reblog your post.  The last thing BOA needs is another home on their shelves.  Banks are working with everyone to avoid foreclosure.  BOA needs to follow suit.

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
791,851
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Thanks for sharing this. So sad. On my way to Gail........

Feb 08, 2013 09:04 PM #1
Ambassador
1,950,207
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Thank you for spreading the word Barbara. . I'm sure this is going to catch their catch attention

Feb 08, 2013 09:05 PM #2
Rainmaker
2,271,147
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Barbara: The more times this is put out on the various social media platforms and blogs, the better.  I hope BoA leadership takes notice and takes positive action as a result.

Feb 08, 2013 09:05 PM #3
Rainmaker
2,703,593
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Barbara,

Thank you for reblogging this post, as I had missed it the first time around...nothing BOA does is surprising.

Feb 08, 2013 09:09 PM #4
Rainmaker
4,836,445
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I know of many people who don't really qualify for a modification but the banks are working with them and the banks don't want any more foreclosures....they have enough already....  BOA needs to wake the freak up....

Feb 08, 2013 09:09 PM #5
Rainmaker
889,179
Sussie Sutton
UTR Texas Realtors - Pearland, TX
UTR TEXAS Realtors - Rep for buyers and sellers.

I re-blogged Gail's post too. I then went on to post it onto my Face Book. I advised her to write to the President of the United States. Those suits at BOA were given money to help out distressed home owners. I hope he can help her.

Feb 08, 2013 11:51 PM #6
Rainmaker
3,492,946
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again Barbara. I too rebloged this last night and put it on Facebook and LinkedIn. I am sick for Gail and her family.

Feb 09, 2013 01:31 AM #7
Rainmaker
421,606
Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Barbara, I was glad to read in Gail's blog that the pressure is helping. I did a re-blog anyway because the more pressure the better.

Feb 09, 2013 10:22 PM #8
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Rainmaker
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Barbara Todaro

Marketing Agent for The Todaro Team
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