My home goes to auction next Thursday, I will have to file for bk by Monday and would like to extend the bk and sale date.
My loan was originally with Countrywide, jumbo, 10 year interest only, Mers was the original trustee, don't know when Recon trust took over. I know the way that was handled was illegal (or I think) Iím new to this site and just getting mers information.
I'm in this trouble because B of A screwed up the servicing of our loan.
THEY INCREASED OUR MORTGAGE PAYMENTS BY ALMOST 100% WITHOUT NOTICE. OUR PROERTY TAXES FOR PAID BY B OF A FOR THREE YEARS (ONE YEAR NOT YET DUE), AND NOW TEY INFORMED US WE OWED THEM $33,000.00 AND HAVE TO PAY THEM PLUS WE HAD NEW PAYMENTS TO REPAY THAT DATE OVER A CERTAIN TIME (I FIGURED OUT IT WAS AMORTIZED OVER 5 YEARS), THE PAYMENTS INCLUDED IMPOUNDS FOR FURTHER PAYMENT OF TAXES, REPAYMENT AMOUNT AND A BUNCH OF FEES, AND CHARGES, ETC. ALL OF WHICH STILL HAS NOT BEEN EXPLAINED TO ME. SINCE THE ORIGINAL INCREASE, IT HAS BEEN INCREASED ANOTHER $500.00 PER MONTH WITHOUT EXPLANATION OR EVEN A LETTER ADVISING THE PAYMENTS HAD INCREASED.
Ever since the date of the increase in our mortgage payments and PRINCIPLE BALANCE, IT HAS INCREASED AND NOW THE PRINCIPLE IS ALMOST $90,000.00, MORE THEN THE ORIGINAL BALANCE AND THE AMOUNT TO PAY OFF. I STILL DONíT KNOW WHAT THE CHARGES ARE?
A LOAN SHARK WOULD HAVE GIVEN ME BETTER TERMS AND TOLD ME IF HE WAS PAYING A DEBT. I was not given any choice. They paid it and now I better pay or they are taking away our house.
If they had even inquired about the taxes and I knew what would happen, I would have paid the taxes. I still had that money, and since it was paid a year earlier, I could have paid the future taxes.
In addition, they really put a new loan on the house by implementing a repayment amount, amortizing the payments, again, without notice.
SHOULDNíT I HAVE EVEN GOTTEN SOME SORT OF DISCLOSURE EXPLAINING THE PAYMENTS? SOMETHING SEEMS SO WRONG, DONíT CONSUMERS HAVE AGENCIES PROTECTING THEIR RIGHTS?
RE: Property taxes. In addition, impounds.
If they had inquired, I could have told them the delinquent property taxes were initially due to an error by the
County. . I made arrangements with Countrywide, and The County Assessorís office. My payment arrangement with the county was simple: I had five years from the delinquent date to pay the taxes in full meanwhile, I could pay monthly, or whenever before that deadline.
I was even uncomfortable that I didnít have something in witting from Countrywide agreeing to let me pay off the taxes, so a few months called my countrywide contact. The call went straight to the B of A customer service dept. They would not, give me any information. They didnít seem to know what property taxes were? Since then, I have been in B of A hell
I was also working with countrywide to refund money to us for an erroneous escrow set up for hazard insurance when B of A took over the loan. That money was held for years. WHAT HAPPENED TO RESPA, AND OTHER REGULATORY LAWS?
I REQUESTED THE LOAN HISTORY MONTHLY FROM B OF A. THEY NEVER TOLD ME THEY DIDNíT HAVE IT, I FOUND THAT OUT LATER. BUT IT DOES EXPLAIN THE RUDE BEHAVIOR AND TELLING ME THEY DONíT HAVE TO GIVE ME ANY INFOMRAION TO LOOK IT UP IN MY RECORDS
I DIDN [T KNOW WE WERE IN TROUBLE UNTIL WE RECIVED AN ACCELERATION LETTER. THE DATE OF THE LETTER AND DUE DATE FOR MY FULL PAYMENT WERE LESS THEN 20 DAYS. WHAT HAPPENED TO THE REGULATORY LAWS, SPECICALLY THE ONE THT SPECIFIES THEY MUST GIVE AT LEAST 30 DAY NOTICE TO REPAY A DEBT. I HAD MORE PROBLEMS, I DIDN [T WHEN THE LATES OCCURRED AND HOW THEY CAME UP WITH THE AMOUNT OWED.
THE FOLLOWING MONTH I RECEIVED THE LETTER REGARDING OUR NEW PAYMENT AND AMOUNT WE NOW OWED.
IT TOOK ANOTHER TWO MONTHS TO FINALLY GET THE LOAN HISTORY.
NOT ONLY DID THE LOAN HISTORY SHOW THE PROPERTY TAXES FOR THE DELINQUENT YEAR AND UPCOMEING YEAR HAD BEEN PAID MORE THEN A YEAR BEFORE I WAS NOTIFIED, THEY PAID AN ADDITIONAL YEARS PROPERTY TAXES MONTHS LATER. AGAIN, THOSE TAXES WERE NOT DUE YET.
THE LOAN HISTORY ALSO SHOWED WE HAD 8 PAYMENTS (PARTIAL, AND ALMOST FULL PAYMENT IN A MISC. ACCOUNT.
OUR MONEY WAS CASHED BUT NEVER APPLIED (STILL HASN [T BEEN) TO THE PAYMENTS OR THE BALANCE. OUR LOAN WAS AN INTEREST ONLY AND WHEN WE COULD, WE WOULD PAY MORE THEN THE PAYMENT AMOUNT TO LOWER THE BALANCE.
TO THIS DAY, THE MONEY WE PAID IN MISC. IS STILL THERE I GUESS B OF A WILL JUST POCKET IT WHEN THEY SELL THE PROPERTY. I GUESS WE CAN FORGET ABOUT BEING PAID INTEREST.
AFTER DAILY CALLS AND MONTHS OF AGGREVATONS, THE ONLY SOLUTION I WAS OFFERED TO LOWER THE MORTGAGE PAYMENTS AND GETTING THE MISC. FUNDS APPLIED TO MY ACCOUNT WAS TO MODIFY THE LOAN. ONCE MODIFICAITON WENT THROUGH, THEY WOULD ADJUST THE MISC. FUNDS AND CREDIT TOWARD THE PRINCIPE BALANCE OR PAYMENTS DUE.
THEY ALSO ADVISED DOUBLEING OUT PAYMENTS TO EXTEND THE NEW DUE DATE. ONCE, WE GOT THE MODIIVAITON EVERYTHING WOULD BE STAIGTENED OUT AND ANY CREDITS ADJUSTED.I WAS TOLD THE MODIFICAITON WOULD ONLY TAKE 30 TO 60 DAYS THE NEW PAYMENT AMOUNT STILL WOULDNíT BE DUE YET.
MY PAPERWORK WAS IN, CONFIRMED AND I WAS TOLD I WAS APPROVED, SINCE I CALLED WEEKLY, I WAS TOLD IT WAS APPROVED AND JUST WAITING FOR THE UNDERWRITER TO COMPLETE THE PAYMENT AMOUNT OF THE MOD,
IT WAS NOW THE MONTH THE NEW UNAFFORDABLE PAYMENT AMOUNT WAS DUE. IF I PAID ANYTHING LESS THEN THAT AMOUNT MY MONEY WOULD STAY IN MISC. LIMBO NOT APPLIED UNTIL THE FULL AMOUNT WAS PAID.
I WAS DESPARATE AND DONíT WANT TO GO INTO ANYTHING MORE SPECIFIC, I FOUND OUT DIRECTLY FROM A HIGH LEVEL EXECUTIVE AT B OF A, A PERSON WHO SETS POLICY.THEY WOULD NOT DO ANY MORE LOAN MODIFICAITON. THEY SHOULDNíT HAVE DONE ANY OR IMPLEMENTED THE PROGRAMS.
THEY WANT TO FORECLOSURE AND POLICY WAS NOW TO FORECLOSE ON AS MANY PROPERTIES AS POSSIBLE IN THE NEXT TWO YEARS. THE PEOPLE ASKING FOR MODIFICAITONS SHOULD FIND A JOB! THE MODIFCATIONS WERE A JOKE, AND PROLONGING THE HOUSING MESS. THEY WOULDNíT RECOVER UNTIL ALL THE FORECLOSURES WERE GONE AND THE MARKET COULD START NEW
THE OBAMA PROGRAMS WERE LAUGHED AT. IT WAS NO MORE THEN MARKETING TOOK FOR OBAMA. IN ADDITION, ALTHOUGH SHORTLY AFTER FORECLOSURES WERE HAULTED, I UNDERSTOOD WHAT THE BANKS WERE DOING AND THEY WOULD NOT DO ANYTHING THEY WERENíT FORCED TO DO. THEY RESENTED THE GOVERNMENTS INTERFERRANCE.
I MADE THE DISCIONS RIGHT THEN, I WOULD NOT SPEND WHAT LITTLE MONEY I HAD LEFT TO PAY THE MORTGAGE ONLY TO LOSE MY HOUSE ANYWAY.
B OF A MADE PROMISES AND LIED WITHOUT ANY INTENTION OF KEEPING THEM. I STOPPED PAYING MY MORTGAGE
FOR THE NEXT 9 MONTS, MY APPROVED LOAN MOD (NOT) WAS IN PROCESS AND THEN IT WAS DECLINED WITHOUT EXPLANATION . THE DECLINE LETTER STATED THEY WOULD RESEARCH OTHER MODIFICIONS PROGRAMS AND INFORM ME WITHIN 30 DAYS WHAT THEY COULD DO FOR ME. I NEVER HEARD FROM THEM AGAIN.
I DID APPEALE THE DECLINE AND WROTE A LETTER TO C.E.O. OFFICE. THEY WERE ALL OVER IT AND WANTED TO HELP WITH THE MODIFICATION AND EVERYTHING WOULD GO THROUGH THEIR OFFICE. THEY LOST INTEREST SHORTLY AFTERWORD AND ITí WAS THE SAME STORY, THEY DIDNíT GET THE FIANIALCILS, THEY WERE MISSING A SIGNED FORML THEN THEY DIDNíT HAVE FINANCIALS. IN TOTAL, I SENT FULL PACKAGES OF 150 PAGES TO THEM BY FAX AND BY FED EXPRESS. THE LAST LETTER I RECEIVED REQUESTING ADDITIONAL DOCUMENTATION WAS JUNE 2011. I ONCE AGAIN SENT EVERYTHING. I NEVER HEARD FROM THEM AGAIN AND RECEIVED THE N.O.D. IN OCT., THE SALE NOTICE IN FEB 2012., AUCTION DATE, MARCH 1ST.
I CALLED THE FORECLOSURE DEPARTMENT TO TRY TO EXTEND THE SALES DATE. I WANTED TO KNOW WHATEVER HAPPEND TO THE LOAN MOD. THEY SAID WE NEVER TURNED IN FINANCIAL BUT WHILE SHE STARTED TO READ ABOUT IT SUDDENTLY STOPPED AND WOULDNíT GIVE ME ANYMORE INFORMATION. THE DATES OR POSSIBLY THE FACT THAT THEY DID HAVE MY FULL PACKAGE 6 TIMES (7 IN PRIOR 12 MOTHS). WHATEVER IT WAS IíM SURE IT WAS SOMETHING SCREWED UP ON THEIR PART.
SHE TOLD ME I QUALIFIED FOR ONE OF THE NEW LOAN MOD PROGRAMS (SURE) AND IF I GET ALL THE PAPERWORK TO HER ASAP, THEY CAN PUT IT IN MODIFICATION STATUS AND THE SALES DATE WOULD HAVE TO BE EXTENEDED.
I IMMEDIATELY DID WHAT I WAS ASKED. BUY MONDAY FEB. 20TH, THEY CONFIRMED ALL THE PAPERWORK WAS IN AND REVIEWED BY THE PROCESSOR AND IT WAS READY TO SENT TO UNDERWRITING FOR A TRIAL LOAN MODIFICATION. I SPOKE TO THE FORECLOSURE REP ON WEDNESDAY FEB 22ND, NEEDING STATUS ON THE SALES DATE EXTENSION AND WAS INFORMED SHE COULDN'T SUBMIT THE REQUEST FOR SALES DATE EXTENSION UNTIL 5 DAYS BEFORE THE SALE DATE. IT WOULD BE DECLINED IF SHE REQUESTED IT ANY EARLIER. I LET HER KNOW IT WAS NOW 5 BUSINESS DAYS BEFORE THE SALE DATE AND SHE TOLD ME SHE SUBMITTED THE REQUEST WHILE I WAS ON THE PHONE. THE INVESTER HAD 48 HOURS TO RESPOND. I WOULD HAVE AN ANSWER NO LATER THEN MONDAY, FEB 27TH.
I HAVE BK PAPERWORK AND ATTORNEY READY FOR FILING BK TO STOP THE SALE, BUT I WOULD PREFER TO HOLD OFF ON THE BK UNTIL I CAN FIND A JOB. I DONíT NEED THE EXPOSURE ON PUBLIC RECORDS. .
TIME IS RUNNING OUT AND I HOPE THAT SOMEONE CAN TELL ME IF THERE IS ANYTHING I CAN DO TO PREVENT THE SALES DATE. I BELIEVE B OF A HAS VIOLATED MANY LENDING LAWS AND REGULATORY REQUIREMENTS.
IíM JUST LEARNING ABOUT MERS, AND IT MY ORIGINAL DOCUMENTATION HAVE MERS AS TRUSTEE OR WHATEVER. I DIDNíT RECEIVE INFORAMTION ON THE TRAINSFER. IS THERE ANYTHING I CAN DO OR IS IT TO LATE FOR LEGAL ACTION? OH AND I CANíT ATTORNEY.
I WOULD BE SO GRATEFUL IF SOMEONE COULD HELP ME.
I APOLOGIZE FOR THE LONG POST BUT I GET EMOTIONAL WRITING ABOUT THIS HORRIBLE EXPERIENE WITH B OF A.