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

Reblogger Sally K. & David L. Hanson
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

Corporate America is sometimesnot known for their big hearts....and Lenders not for their common sense or compassion...we can all do better than that on AR...It doesn't take long to tweet....JUST DO IT....Help Gail .....no one deserves this kind of treatment at a time in their life that is already more difficult than any of us can imagine...Let's show everyone...the Power of the Rain !

 

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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Rainer
214,007
Richard Burge Realty/ Burge Homes
Richard Burge Realty/Burge Homes - Conway, SC
Broker in Charge/Owner

There is a book called Bailout and it talks about the banks only offering Modifications and not going thru with them.

I have had the same thing happen with short sales that were accepted by the lender only to foreclose before the deal could take place.  NO more bank bailouts.

Feb 08, 2013 09:39 PM #1
Rainmaker
3,161,206
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

  We have not had that experience...and we are urging everyone...please tweet...please if you are a short sale listing agent and have connections at BOA...use them now !

Feb 08, 2013 09:45 PM #2
Rainmaker
4,830,794
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

We have clients who have been granted loan modifications and they are borderline in qualifying..... the banks are working with people so we can get out of this mess....no more foreclosures if there is a chance of loan modification....Gail has income... there is no reason for a loan modification to not be granted.... wake up Bank of America....I shared this on linked in too.

Feb 08, 2013 10:04 PM #3
Rainmaker
3,161,206
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Our hope is that everyone who reads the many reblogs and Gail's blog repeats the story everywhere...common sense and lenders...eh...not sooo much...come on AR you can do it !

Feb 08, 2013 11:02 PM #4
Rainmaker
3,029,694
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

This is such a sad situation...I sure hope they can turn things around with BOA....I sure do!!!!

Feb 08, 2013 11:03 PM #5
Rainmaker
694,609
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Sally and David,

This seems to be a very popular re post today. I have seen a lot but this needs to help of the main managers from the headquarters in New York.

Appearently the local office cannot handle the request.

Have a great day in Wisconsin.

Best, Clint McKie

Feb 08, 2013 11:37 PM #6
Rainmaker
2,801,733
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Her post has been re-blogged countless times over the last two days.  This is simply amazing about the ActiveRain community. 

Feb 09, 2013 07:39 PM #7
Rainmaker
289,654
Kathleen Lordbock
Keller Williams Realty Professionals - Baxter, MN
Keller Williams Realty Professionals

One more comment in to keep this moving on ahead and re- blogging.

Feb 10, 2013 12:50 PM #8
Rainmaker
3,161,206
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

If you are a short sale listing agent and have connections at BOA....use them now...send them the blog...we can do this AR.....show Gail we care and BOA what happens when they do not !

 

Feb 10, 2013 01:33 PM #9
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Rainmaker
3,161,206

Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
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