Where to start? I am a California resident who has a home in Florida. It used to be my primary residence until 2007 when I got a job in California. Since then I have intermittently rented it out. This fall when my tenants moved out first I thought I'd let the house go but then decided I'd seriously try for a loan mod.
I spoke with an attorney who said for $3500 he could get me a loan modification but I would have to stop making my mortgage payments. I already knew that.
Meanwhile, 2 different realtors were unable to find tenants for my home, so by December I was ready to stop paying. In October I had shoulder surgery, and have been on disability earning only 60 percent of my normal salary. I anticipate that I will be on disability for 4 months.
I sent the attorney all of the paperwork before the Christmas holiday but they werenít going to start working on it til 1st week of January. I didn't like it that my mortgage wasn't being paid and nobody was communicating with Bank of America so I called BOFA the week before Christmas. They took my financials over the phone and told me I might be eligible for one of their loan mod or short sale programs.
On January 4th, I was told I didn't qualify for a loan modification, but when I spoke with the short sale department I got great news. I was told that they had a new program in Florida called the cooperative short sale. The women read me a statement describing this program the highlights of which were that there would be no deficiency judgment, they would pay up to $6000 to settle a 2nd mortgage and up to $2500 in relocation fees. She qualified me for this program over the phone, told me that I needed to pick a realtor and have her log on to the equator system within 24 hours to have her name added to my account. I called the attorney and told him I wasnít going to need his services.
I chose my realtor who is very experienced in short sales and she tried for a week to get her name added to my account, but got the runaround. At that point I called Bank of America again and the person I spoke with said to me that we had missed the deadline to add a realtor and my account had gone to collections and I would have to wait for my negotiator to get involved before another window would open to have my realtor added to the account.
My realtor was proactive and reached out to the negotiator. Today he answered her by e-mail and copied me saying that I didn't qualify for the cooperative short sale and he was denying our request. He has never spoken to me or requested or seen proof of the financials I initially supplied over the phone.
What do I do now? I let the attorney go because the cooperative short sale seemed like something I could handle on my own. As of today, Iím 60 days late on the mortgage, my credit is shot, and I have no plan. Is there a department I can complain to? Or was their plan all along to pull the rug out from underneath me at the last moment?
Any help greatly appreciated!!!!