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

Reblogger Deborah "Dee Dee" Garvin
Mortgage and Lending with C2 Financial NMLS #279125

While this post is tragic and I sincerely wish the best for Gail and her husband, all I can say is I am absolutely not at all surprised by the actions of BofA.

Back in 1990, at the time of the merger (take over) of Security Pacific Bank by BofA, I was a Personal Banker in Bellevue, WA.  We had the privilege of working with a beautiful woman named Paula (forgive me for not recalling her last name), Director of H.R.  People just gravitated to Paula whenever she came in any of branches.  During to course of the merger Paula was diagnosed with very serious cancer...and desperately needed a bone marrow transplant.  At the time, bone marrow transplants were still considered "experimental".  BofA drug Paula and her family through months of agony and legal maneuvers to thrwart the procedure.  They finally lost and conceded the insurance coverage....Paula died three days later.

I knew then and there BofA did not the corporate and climate culture that I would ever work with.  I took the severence and walked out the door.  In the past 20+ years I have seen nothing from the company to change my mind.

My prayers and thoughts go out to Gail and her family.  Maybe, just maybe, social media will be the mirror to show the public exactly what this corporation is all about.

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.

6 PM 2/9/13 UPDATE:  Two Social Media managers from BOA contacted me today and my case will be sent to their Escalation Team. I will know more on Monday and will post an update in a new post.  Thank you all for taking the time and effort to reblog, Tweet, share on FB, post on Google+, and for your comments/calls/e-mails.  AR may not be a face-to-face group, but we are a community in the true sense of the word - a group of people who care for one another and help each other in their time of need.  Thank you my AR family from the bottom of my heart.

2/11/13 Update:

Three calls today from BOA and I now have one point of contact for dealing with them.  I haven't anything to report yet, except that this time it seems like my loan modification has been fast tracked for priority review.  I will report back as I know more.  I really appreciate your help.  I should know more by the end of the week.  I'll keep you informed.  Thank you so much!  This wouldn't have happened without your efforts. I'm very grateful to my AR friends!  Thank you!

 

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Ambassador
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Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Howard County & Catonsville

Two very sad stories in one post. BOA should get a major overhaul. The announcement yesterday was enough to make me see red.

Feb 14, 2013 05:04 AM #1
Ambassador
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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Wow.....great addition to the blog by Gail. It's important that these things are told and told often so people can make proper decisions about who they deal with. 

Feb 14, 2013 05:13 AM #2
Rainer
128,498
John Fauth
Coldwell Banker King Thompson - Grove City, OH
Turning your dreams into an address!

Thank you for the update! I had a client with BoA and it was a nightmare and every time it came down to procedure over substance. Continued good luck on this!

Feb 14, 2013 05:23 AM #3
Rainmaker
158,470
Deborah "Dee Dee" Garvin
C2 Financial - San Diego, CA
C2 Financial

Elle,  I am less than optimistic that an overall would do the trick....a transplant of DNA into the culture of the corporation  Thank you for your comment.

Karen, I remember this like it was yesterday.  It was very early in my banking career...and I truly realized that a company/corportation can be "maglignant"....Knowing the internal culture of BofA as I witnessed, I have never understood how a consumer would want to work with them!  Just MHO.

John,  Not all people that work with BofA are bad...the process and procedures are just too cumbersome and out of control to effectively represent borrowers and agents.  Again, my humble opinion.

 

 

Feb 14, 2013 05:48 AM #4
Rainmaker
647,582
Team Honeycutt
Allen Tate - Concord, NC

I am sorry that your home is going into foreclosure. Hopefully, you and your husband will be able to spend time in your own home. This is a good time for prayer for you and your future.

Betty

Feb 14, 2013 06:10 AM #5
Rainmaker
1,218,679
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

Dee Dee:  Your testimony provides real power to Gail's story.  I'm wishing that re-blogging of the re-blog was possible.  I think your additional info only would serve to motivate more people to act on Gail's behalf ... and also serve as a huge thorn in BofA's paw ...

Gene

Feb 15, 2013 10:47 AM #6
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Deborah "Dee Dee" Garvin

C2 Financial
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