Home Loans and Support

As a co-borrower on a mortgage, can Bank of America and my ex-husband approve and apply a loan modif

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by aaarrrggg, Nov 4, 2010.

  1. aaarrrggg

    aaarrrggg LoanSafe Member

    Facts: Nearly two years ago my ex-husband got home in the divorce. Unfortunately, though, I am not separated from the mortgage responsibility; I am still listed as a co-borrower.
    Starting a year ago, payments were either not being made or were late. Per several credit report pulled in the past three months, the delinquency on the debt has significantly and negatively affected our/my credit. I keep in touch with the bank via phone communication on a monthly basis. It was last month (October) that I learned from a representative that my ex-husband had applied for a home loan modification.

    Bank of America then explained to me that any one borrower can apply for a modification, but upon qualification into a modification program, all borrowers need to approve it with signatures and have the documents notarized.

    Later in October I learned through Bank of America that he had qualified for a modification and had been sent paperwork. I informed them several times thereafter that I likely would not be shown the paperwork and would not sign it. And so if they received paperwork with my signature it would not be mine.

    PROBLEM: As of the Oct. 26 the Bank of America website now shows HUGE changes to the loan; the modification was approved and applied. I have not spoken with my ex-husband. I have not seen any loan modification documents, and I have not signed anything.

    When I called the bank and explained what I had observed, they clammed up, put me on hold for a long time, and then and said that they wouldn’t be able to give me a copy of the documents for at least 90 days. They also told me I ‘need to speak with an attorney regarding possible forgery’, and have an attorney contact their correspondence team. In the same breath, it was confirmed by the bank representative that both the borrower and co-borrower need to sign the documents in order for it to go through (and be applied to the account). Unfortunately, I can't find an attorney that will go after Bank of America~ and I don't have a ton of money to go hire a big law firm.

    WHAT DO I DO? It has been implied by the bank that my signature was forged, but won’t provide me with the documents - exactly the problem I am having with my ex. Or perhaps Bank of America made a mistake and only had one signature before approving and putting the modification in place. So how can i get that reversed?
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Welcome and thanks for joining the forum.

    You are 100% correct here, no modification is supposed to be valid unless ALL borrowers listed on the mortgage are there to sign the final modification agreement. I have come across this scenario on many occasions and typically never does a lender allow a mod to go through without the ex spouse's signature on the agreement..

    To me it sounds like someone forged your signature on the agreement, or BofA made a big mistake and forgot to add your name to the paperwork. I'm not sure how you can find out what truly happened until someone sends you the agreement or at least can tell you whether or not your name is on it. Here try contacting the Office of the President to see if they can explain to you what is listed on the mod:

    Barbara J. Desoer
    President Home Loans and Insurance
    Bank of America
    100 North Tryon St.
    Charlotte, NC 28255
    barbara.j.desoer@bankofamerica.com

    866-607-3235

    http://www.loansafe.org/forum/count...fice-president-please-post-your-contacts.html
  3. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Welcome and thanks for joining the forum.

    You are 100% correct here, no modification is supposed to be valid unless ALL borrowers listed on the mortgage are there to sign the final modification agreement. I have come across this scenario on many occasions and typically never does a lender allow a mod to go through without the ex spouse's signature on the agreement..

    To me it sounds like someone forged your signature on the agreement, or BofA made a big mistake and forgot to add your name to the paperwork. I'm not sure how you can find out what truly happened until someone sends you the agreement or at least can tell you whether or not your name is on it. Here try contacting the Office of the President to see if they can explain to you what is listed on the mod:

    Barbara J. Desoer
    President Home Loans and Insurance
    Bank of America
    100 North Tryon St.
    Charlotte, NC 28255
    barbara.j.desoer@bankofamerica.com

    866-607-3235

    http://www.loansafe.org/forum/count...fice-president-please-post-your-contacts.html
  4. dianne

    dianne Senior Member

    I've been in a similar situation...My husband was ordered out of our home, under a domestic violence order. I could not obtain a modification, until my husband's name was taken off of the deed, with a "Quit Claim." Naturally he held "THAT" hostage, for over a year, putting his 5 children's home, into foreclosure. Prior, to his name being removed from the deed, I would have had to include his income, in the calculations, and he would have had to sign everything. This is in Kentucky and I think each state, has their own requirements, for how a "Quit Claim" can be obtained and used. My bank is GMAC and it is a Fannie Mae loan. I was told, that these were Fannie Mae guidelines. My bank, didn't tell me about the "Quit Claim" until 4 months, into this 19 month nightmare, which is still continuing. I had sent the modification packets in, at least twice, by then. They first told me to just put down my own info., and send them the court order. "One hand, doesn't know what the other is doing....."

Share This Page

COMPANY LINKS

TESTIMONIALS

"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy