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

Reblogger Robert Bob Gilbert
Real Estate Agent with Berkshire Hathaway HomeServices Anderson Properties TX Real Est. 567774

Please read the below blog written by AR member Gail Robinson. In my mind BOA is totally in the wrong and needs to do something immediately to correct this serious wrong. Maybe if enough of us re-blog her work and blast it all over social media someone at BOA will finally wake up and stop what they are doing. BOA Really!! Do you as BOA really think any of us will send business your way after reading this nonsense you are trying to get away with by foreclosing on this home!!  In my opinion I know all the money that was suppose to be used by your bank to do loan modifications went towards Executive bonuses.  Spare me!!!

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.

 

 

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Rainmaker
863,526
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Robert - it is wonderful that you reblogged the post from Gail. Bank of America needs to be knocked off its high horse.

Feb 09, 2013 05:10 AM #1
Rainmaker
2,050,703
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Sarah & Les.. thank you for your comment. Everyone who reads this re-blog should go to Gail's blog and write a comment and more if possible.

Feb 09, 2013 05:15 AM #2
Ambassador
1,892,884
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

The good news is if you read Gail's update is that BoA has reached out to her.  Social Media works.

Feb 09, 2013 05:30 AM #3
Rainmaker
2,050,703
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Thank you Cindy for the great news.. i will go back to read this wonderful news..

Feb 09, 2013 05:37 AM #4
Rainer
5,787
Larry Siegel
Interlinc Mortgage Services, LLC - Austin, TX
Residential Mortgage Loan Originator NMLS # 296404

I did a couple of loan modifications after the financial melt down and I can tell you that most of my pipeline could never get done.  They take a long time to complete.  I have found that banks just don't want to do them.  The only way you might be able to get them done is by putting a lot of pressure on them.  Gail definitely has a hardship, so she should qualify.  I think the banks have more loan modifications than they can handle.  I am glad that B of A is finally reaching out to her.

Feb 09, 2013 06:12 AM #5
Ambassador
3,671,820
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Robert, what a great choice for a re-blog.  I just wrote one about talking back to Bank of America.  This really pisses me off.

Feb 09, 2013 11:36 AM #6
Rainmaker
1,433,926
Yolanda Cordova-Gilbert
Richmond, TX

Bob,

     I agree with you and I too re-blogged it BOA get with it!

Feb 10, 2013 03:09 AM #7
Rainmaker
1,172,508
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Bob

One would think they may get it some day but this still happens so often it is *&!!XX** shame. Good check for an important repost, cheers cvc

Feb 10, 2013 04:00 AM #8
Rainmaker
508,942
C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Good Evening Bob,

Excellent Repost...I will definitely repost it also.  These bansk are out of control...Where is the humanity?

 

Feb 10, 2013 11:10 AM #9
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Rainmaker
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Robert Bob Gilbert

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