Today I Was Told by BOA My Home is Going into Foreclosure-Gail's Story

Reblogger Mona Gersky
Real Estate Broker/Owner with MoonDancer Realty, Dillsboro,NC NC# 218097

I like to think there was a time when the banks were the cornerstone of helping Americans find success.  It appears that Simon Legree is alive and well. Since his original occupation is now illegal, his new career seems to be with Bank of America.  What is the matter with some of these bloodless banks?  This isn't Monopoly that the country is playing.  The purpose isn't to collect all of these houses that are under water.

Gail Robinson is an ActiveRain community member.  She and her husband have probably worked hard their entire life.  Is it fair that the housing market tanked a few years ago and their $400k home is now worth $250k?  Is it fair that her husband is battling Stage IV Pancreatic Cancer and their home has now become his hospice care room?

What is fair is that Gail has jumped through every hoop they've asked.  She continues to work and care for her husband. BOA continues to jerk the rug from beneath her.  They are refusing to modify her loan.  Go figure.

No, today I wasn't told by BOA that my home was going into foreclosure but don't be fooled for one second that except for the way circumstantial dice were tossed...any one of us could be in this same position.  Absorb Gail's message below.  Use whatever social media forum is at your disposal to get Gail's and other's stories like hers out.

BOA should be ashamed of themselves for playing the role of Evil Empire and working against the financial well being of our country.  They are in the unique position of being able to play a pivotal role in healing the economy and putting us on a strong path to recover.

Keep Gail and her family in your hearts...get her word 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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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It certainly appears you have been cast into the sea of beaucracy and not landed on the desk of a logical individual who gives a _hit! It is truly tragic that they have not entered into a logical discussion. While the outcome may not be what you desire, it is illogical to think they would mot give you consideration. Cross BOA off my list until I hear more about your situation! 

Feb 08, 2013 10:38 PM #1
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

We are fully supporting Gail as well.  I just shake my head ..........

Feb 08, 2013 11:00 PM #2
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Mona,

Good repost.

There are a lot of excuses by the banks not to do a refi. Many are bogus as said in the post. I think they just want the home back to make a little more from the sale.

Have a great day in Dillsboro and Sylva.

Best, Clint McKie

Feb 08, 2013 11:31 PM #3
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Mona. I too re-blogged this and added it to my Facebook and LinkedIn accounts as well. Your description of BOA is apt and they make me sick and angry. My prayers are with Gail and her husband too.

Feb 09, 2013 01:29 AM #4
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Wayne, I can see that you are a good soul and this story struck a nerve with you.  It is despicable behavior on the part of Bank of America.

John, we could shake our heads totally off our necks and still not comprehend the lack of compassion.

Clint, I'm not usually a conspiracy type of person but this story would lead one to believe that maybe they have an inside scoop on the housing market picking up steam soon.  You might be right, they could very well feel that if they take the house back they might make more on a later sale.

Sheila, I don't know what else to do.  We don't have any accounts with B of A, so we can't close them.  There aren't any local to our area so I already don't refer to them.  All we can do is pass the story on.

Feb 09, 2013 10:46 AM #5
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Mona Gersky

GRI,IMSD-Taking the mystery out of real estate.
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