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

Reblogger Debe Maxwell, CRS
Real Estate Agent with | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

One of my favorite people on ActiveRain is suffering and needs ANY help that you can offer her.  Get the word out that Bank of America has gone TOO far this time.  This is a travesty and needs to be rectified IMMEDIATELY.  PLEASE RE-BLOG HER POST AND LET'S SEE IF WE CAN GET HER THE HELP THAT SHE AND HER HUSBAND SO DESERVE.


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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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

We in the West have seen this and blogged about it for years.  This is normal not unique.  California found it to so abusive they passed a law that you cannot have loan modifications and foreclosure going on at the sametime. 

Feb 09, 2013 12:33 AM #1
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I was so sorry to hear about Gail's trouble, but I just have this feeling that next week we are going to hear good news.

Feb 09, 2013 04:21 AM #2
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

I hope we do hear good news next week.. Gail has a lot of folks in her corner...

Feb 09, 2013 05:57 AM #3
Milia Richardson
Durham, NC
Milia Richardson

Please be sure that Gail has posted this entire story on Twitter.  BOA has people constantly trolling for any references to them.  She will most likely get the fastest response that way.  I wish her and her family good luck.  They will be in my prayers.

Feb 21, 2013 02:50 AM #4
Thomas Santore Lic Associate Real Estate Broker
Coldwell Banker Residential Brokerage/Coldwell Banker Commercial NRT - Yorktown Heights, NY
Realtor®-ABR-Land, Residential & Commercial Sa

Some times these banks just take so long to review the documents they get out dated, but instead of following up with you they let things lapse. I have modified my mortgage twice! I was told for 1 and 1/2 years the first time I was denied, but I keep at it and finally got it. Then I decided I could do better! 2 years later I got even a better deal. Overall I think I was denied 14 times! But I persisted, finally with success.

Feb 23, 2013 11:05 AM #5
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Debe Maxwell, CRS

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