January 24, 2010
Re: Case #xxxxxxxxxxx
To the Honorable Theresa Baca, Second Judicial District Court of the State of New Mexico
I would duly submit this written response to the aforementioned case number as ordered in the attached copy of the summons. I am currently working with a Bank of America negotiator (Meagen McPherson) to try to obtain a loan modification. I was assigned Ms. McPherson as a negotiator after contacting Barbara Desoer at the Office of the President of BOA. If this effort fails, I will then try to obtain a forbearance from the bank on moneys owed and establish a repayment plan. In order to do any of these things, however, I will require more time as well as the cooperation of the bank.
I would also like to point out errors in the complaint:
a. Paragraph 5 alleges that I have a loan modification agreement. If your Honor would refer to the attached timeline, you would see that this may or may not be true, depending on whom one speaks with at the Bank of America. In the words of my negotiator in her most recent communication to me, “ I do not show a denial or an approval yet for your loan modification.”
a. The same paragraph alleges a modification payment of $792.81. This sum was my pre-modification payment. The “modification” payment I was instructed to make by the Bank of America’s Hope Team was in fact $893.61.
I would like to add that I have made every effort to resolve this impasse with the Bank of America. In truth, it is the bank that has not been forthcoming. I have been trying to obtain a loan modification since December 2008, and I am still no further along than when I began. In my dealings with them, I have found them uncooperative, unresponsive and often incompetent. I am not in a position to delve into the motives of the numerous bank employees that I have spoken with, yet I cannot help but suspect that they are engaged in a deliberate attempt at obfuscation and equivocation. Enclosed is a timeline detailing my exchanges with various employees at the Bank of America. The experience has truly been Kafkaesque, and it has taken a toll on my mental and physical health. I understand that the banks have been inundated with applications for loan modifications, but as a customer, I believe I have the right to timely, accurate and unambiguous information on which to base my decisions. Sadly, this has not been my experience, which, incidentally, is far from unique. Corroboration of this treatment by the banks can be found on the Internet, where thousands of homeowners have documented similar frustrations with the Making Home Affordable Program.
I value my home above all else, and would like nothing more than to reach a reasonable agreement with the Bank of America to resolve this situation. I can afford this home, and I am willing to compromise. I only ask for the opportunity to come to a good faith agreement with the bank and resume payments on my home. Toward that end, I have purchased home and flood insurance. I would be amenable to having my mortgage payments automatically withdrawn from my bank every other Friday (payday) if this would satisfy the bank.
At this time I would like to request more time to continue working with my negotiator to secure a mutually beneficial outcome. I thank you for your help in this matter.