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

Reblogger Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI

 

This is the actual post by Gail Robinson regarding her plea to BofA surrounding her loan modification request and husband's illness. 

This post goes hand-in-hand with my re-blog by Kathy Streib.  Please ... re-post the below on your own and place more pressure on BofA to act in a responsible and humane manner. 

We can hope that if enough press and pressure are applied, that BofA will step-up and do the right thing ..

Thank you,

Gene

 

 

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
843,734
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 12:37 AM #1
Rainmaker
3,484,683
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Gene. I did the same last night and hope that the attention helps Gail retain her home. Very sad situation for sure.

Feb 09, 2013 01:10 AM #2
Rainmaker
818,442
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging that Sells Portland Homes"

Gene ~ Gail's story is so heart-wrenching.  I can't imagine how B OF A can handle cases like Gail's with no human kindness.  Hopefully the media will find this story has merit and publicize how badly B OF A treats their customers, even when they're experiencing indescribable challenges.

Feb 09, 2013 02:44 AM #3
Rainer
284,418
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Gene -- I thought BoA had set up new processes to facilitate this procedure.  Of course I am reblogging - and may send information through another channel as well.

Feb 09, 2013 03:32 AM #4
Rainmaker
1,307,610
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource
Gene, I'm so glad to see this post reblogged so many times and apparently it has done some good since BoA has taken notice...check out Gail's update.
Feb 09, 2013 01:39 PM #5
Rainmaker
1,214,159
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Elite:  Sadly, I have to agree.  Same story over and over with variations.  Makes you wonder ...

Sheila:  Thank you for your actions.  Hopefully together we can accomplish something ..

Maureen:  These large banks are given terrible grades by their customers year after year, yet ... this happens again and again.  Obviously the "too big to fails" are also "too big to pay attention and change" ...

Steven:  Thank you.  Combined, perhaps we can obtain some change on Gail's behalf ...

Nick:  Good news.  Thank you for sharing it.  I will head over to Gail's latest post right away ...

Gene

Feb 11, 2013 02:02 AM #6
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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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