I have a quick question. Bank of America has placed my house in foreclosure. We have a pending sale date but our loan is in review for a Modification. The bank claims that 10 days or so before the sale date they will postpone it. I would like to write a letter asking them to postpone the sale date now. I have heard that it is illegal to foreclose on a property that is in review for a modification. Is this correct? How can I find the actual law that prohibits this so I can add that to my letter to bank of america and recontrust? I just don't trust bank of america as far as i could throw them and rather be proactive and try and get the sale date postpone sooner rather than later. 10 days before the sale date scares me to dealth!
Also- our mod review should be done a few days before the sale date (we were quoted 30-45 days for underwriting to get us an answer) I fear that bank of america will say "Nope- not approved" then the sale date is 3 days out or so and they refuse to postpone the date. I know at this point I could then appleal the discision... but I just want more cushion! Thanks in advance for any information you may have. I'll tell ya... I would be lost without this site and I wouldn't have a chance in heck at saving my house with out the information on this site.