Here is my story. We live in Northern California. Our house was sold at auction on Feb. 4th without warning or notification to us. We were in the HAMP program with Bank of America and being considered for modification. On Feb. 2, I called BofA to make sure that the modification process was going through, as I did once or twice a month. The BofA rep who took my call told me that he had good news, the modification process just passed the Underwriter and it was going into Quality Control for up to 60 days. Well, on Feb. 17th...I got home from work and there was a FedEx letter from BofA stating that we failed to be accepted into HAMP but there were other options. I was in shock and called BofA. I was immediately forwarded to the REO department and that was when I was told that the house sold at auction on Feb. 4th. I didn't understand this, I was in utter shock. I hung up and freaked out. The next day, I gathered my strength and started raising hell. I called BofA and demanded answers...ha ha...no answers, just the run around. Come to find out, BofA sold our house without notification to us on this auction. Also, BofA never provided us with other alternatives than auction. We never got a chance to try again on the HAMP again. The house was sold to BofA, itself.
To this day, there is still no notification by BofA to us (the homeowners) that the house was sold at auction. If I had never done my homework then we would have no idea that the house sold. After getting a handle on the fact that BofA acted illegally then that is when I called the Hope Hotline and started working with them. The Hope Hotline people put a case against BofA and that case was escallated to BofA. Right now, BofA has 30 days to reply back to the Hope Team or MHA (I think they're the same thing). Just this one step wasn't going to keep me from trying to get our house back. I then filed a complaint with the OCC and the Federal Trade Commission. I also wrote to my county's state senator and I wrote to the Governer of California, Jerry Brown. We are now going to start calling attorneys to see where we stand. Well, I found out on Friday that our case was sent to the OPP of BofA and we have been assigned a negotiator by the name of, Thomas Mendoza. This is where we stand right now. I still have no spoken to the negotiator but I'm calling everyday and leaving messages. Tomorrow is the day that I'm going to call the OPP and put some more pressure on them.
That is our story. There is a lot more detail to it from what I've written about. But, in short...BofA lies inside and out. Never trust them. Never believe them. Always call them back after they give you an answer that you want to hear. Don't trust what they have to say. If you think it's too good to be true with BofA then it probably is....call back to triple check.
Our goal from all of this is to get the sale on our house rescinded and back into the HAMP program again for another shot or some other reasonable alternative.