Modification gone wrong

[manongagnon]

This is a copy of a letter I wrote to the Ct Attorney General

February 9, 2012>>
>>Dear Sir or Madam:>>
In February of 2009 I appealed to the attorney general with regards to refinancing difficulties I had with Countrywide Home Loans. In May 2009 my loan was taken over by Bank of America. In August 2009 I entered into a trial modification with BOA. On March 30, 2010 I received a letter stating that I qualify for a permeant modification. A few months pass and I did not receive any documents BOA claimed they would send. There are too many inconsistencies with BOA. I have sent the same documents several times at their request. On 10/8/2010 I received a phone call from Emily with BOA stating, “It’s not in the best interest of the investor to modify the loan”. Throughout the 16 months I was sent letters encouraging me to continue making my payments in the amount of $1080.35. I was not informed of the fees that were imposed on my loan nor was I informed that these lower payments put me several months past due. I was not informed that my credit score would be affected negatively. BOA reported to the credit agencies that I was “past due” making monthly mortgage payments, which was not correct. On June 10^th 2010 I faced a tragic loss with the death of my father. On his death he left my sister in charge of his estate. I borrowed money from his estate to avoid foreclosure. On 11/3/2010 I electronically paid $20,093.25 to bring my loan current. The monthly payment amount before the trial modification for principal and interest was $1,647.02 I was responsible for the escrow. The trial modification payment was $1080.35. This was a savings of $566.67 a month under the trial modification. If we take $566.67 x 16 months we get a savings of $9,066.72. According to BOA I owed double that amount to bring my loan current. >>
I would like to join a class action lawsuit or start one in lace w:st="on">Connecticutlace> with your help. I have kept excellent records and all correspondence with BOA regarding the modification. I am including past letters I sent regarding this issue so that you better understand the details. I am aware there are several other people in this situation. BOA still owes me money and I feel strongly that they follow through with the original modification as well. >>
The Bank of America has neglected to return money once my loan was paid in full after the HAMP fell through. Bank of America has not been cooperative regarding this issue. I have pleaded my case repeatedly and I received a check on 2/17/2011 in the amount of only $173.90 for escrow BAL refund. BOA is covering their error at my expense. They currently owe me $786.44; this amount may seem insignificant however I assure you that this dollar amount surpasses my weekly income therefor it is most important I follow up on this. Please help me with this situation and request that BOA fix their error and refund the correct amount. Thank you for your time and attention in this matter I am truly grateful for any assistance.>>
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I have since refinanced my home however not to the degree that BOA would have. My payments had I had the modification would have been significantly lower than they are currently ($1360.64). This is what I am looking for, completion of the original plan. Please help us fight for the injustice against the tax payers who bailed out the very bank that violated our trust.

I also started a petition, please sign it and pass it on!!!!
>we petition the obama administration to:>>

Force the Bank of lace w:st="on">Americalace> to give people who qualify, the loan modification they should have given by now.>>

Trial payment plans are contracts, and the Bank of America broke them by not giving permanent modifications to homeowners who made their trial payments on time and provided the necessary documentation as well as receiving official permanent modification qualifying documents. Obama said, "Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that do the same," Obama said. "It's time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts. An lace w:st="on">Americalace> built to last insists on responsibility from everybody.">>
Created: Feb 01, 2012>>
Issues: Housingreferrelative="t" o:spt="75" coordsize="21600,21600"> ath o:connecttype="rect" gradientshapeok="t" o:extrusionok="f">ath> happy" type="#_x0000_t75">Short URL: http://wh.gov/kKZ
Save and Share this URL: https://wwws.whitehouse.gov/petitions/!/petition/force-bank-america-give-people-who-qualify-loan-modification-they-should-have-given-now/6DTBJ8G7>>

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[Evan Bedard]

Well-written letter manongagnon, and thanks for sharing this petition and links with the community!