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Bank Of America Predatory Foreclosure

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by sfraise, Nov 1, 2007.

  1. sfraise

    sfraise LoanSafe Member

    You will not believe this!

    My girlfriend inherited a property after her father passed away a year and a half ago that was financed with BOA.

    There was a month or so before it was 100% figured out who the executer of the estate was, which turned out to be her uncle. Once that was settled he sent a check for around $5,500 to BOA to catch up the mortgage and to pay a month in advance. To everyone's surprise the BOA served him with a foreclosure notice and returned his check even though it was in probate! Now came the aggrevating part, the BOA wouldn't speak to her uncle or my girlfriend to try and settle this since they would only speak with her father which passed away. We sent them a copy of the death certificate but this apparently wasn't good enough for them. A rep with BOA even had the nerve to tell my girlfriend that they had no proof that her dad was actually dead and not just trying to get out of the mortgage, even though she had the death certificate in front of her!

    With involvment from the estate attourneys we finally got it squared and the foreclosure stopped however it involved us paying even more money out of the estate for extra fees that they tacked on.

    A couple months go by with my girlfriend trying to assume the mortgage, they still wouldn't talk to her or her uncle. They kept saying that they need to fill out forms that they faxed to us, which they did fill out, and fax back to them several different times. No good, still wouldn't talk to anyone, still couldn't assume the loan.

    All of a sudden bam! Another forclosure notice was served to her uncle, this time they claim they never got a check for a payment, we checked our account and sure enough it was never cashed. Again we paid more money for fees and stopped the foreclosure.

    A couple more months go by, and BAM! Served another foreclosure! This time the BOA said that it was illegal for my girlfriend to inherit the property since she was a step child!!! Who ever heard of that? This time we get more attourneys involved and finally they drop the foreclosure proceedings.

    My girlfriend was still unable to get anywhere with assuming the mortgage so we finally went to our local bank once the deed was finally fully transferred into her name and refinanced it through them back in August of this year. Finally, we done with BOA and we all felt a big weight lifted off of our chests!

    Ooooh Nooo, not that simple!!!!

    Sunday night, Oct. 28th her uncle was served ANOTHER foreclosure notice by the BOA! This time they claim that our bank never sent them the payoff check!!!!!! Are you kidding me? Even though my girlfriend, her uncle, and our local bank were all named in the foreclosure papers only her uncle was served. They never contacted anyone prior to serving the papers, not her uncle, not us, and not our local banks, they just served the papers!

    Our local bank tried calling BOA but couldn't get through to anyone that would talk to them about it. They called the attourneys handling the foreclosure and was told that they never sent the payoff check. So our bank go back through their records and finds that of course, the check was never cashed! Again!

    So our bank tries contacting BOA again, this time they're told by a BOA rep that they sent the payoff check to the wrong address, this is complete nonsense as the payoff recording that they get when they call the number lists the same address that they sent it to, as well as the payoff forms that were faxed to them that they sent in with the check also lists the same address that they sent it to. IT SAYS SEND TO THE ADDRESS THEY SENT IT TO!!

    Our local bank then calls the attourneys again to try and get it taken care of, but apperantly their idea of taking care of it is for us to pay them a few thousand dollars more for more late fees and nonsense bogus charges!!!!!

    Here's the deal in my opinion:
    The property was appraised for around $250,000 and had a payoff of $97,000. BOA simply wants to steal this property and sell it for a profit, plain and simple. When they find out that we will fight them they settle for charging us a few thousand dollars. Either way you look at it they are trying to steal from us!

    I've contacted a new lawyer to look into sueing these jerk offs, I've contacted the state attourney general to look into predatory unlawful foreclosure, our local bank is talking to their attourneys, and the estate attourney is looking into it.

    The BOA is flat out trying to extort us and I'm not going to let it happen! If these jerk offs are doing this to us than there's a good chance that they do it to others too! This company has to be stopped and exposed for the gangsters that they really are!
  2. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Wow! What a fricken story and you definitely have been getting the run around from Bank of America.From what you stated above, you should have got a good mortgage law or real estate attorney long ago because you need to sue them and it should have been handled long ago. But I do know where you are coming from and I understand that you already had attorneys that you were paying and doing everything you were asked. In hindsight, you didn't know what would happen and you took everyones word and the paperworks word and heel, you were even in probate and court proceedings so you should have been protected. I know you were really at the mercy of B OF A.

    I call this PREDATORY SERVICING.

    Yes, I just coined the new buzz foreclosure phrase that I GUARANTEE will be hitting media outlets as soon as this post hits live status.

    [​IMG] PREDATORY SERVICING

    American homeowners went from being taken advantage of with the advent of the predatory lending subprime market and now there are being eaten alive by the servicers who service these predatory loans.

    Think about it? How can you have a predatory loan and not a predatory servicer? It's like raising a great white shark to be a KILLER and then have someone adopt that shark and try and domesticate it to make it friendly. That logic just doesn't jive, does it?

    Why is servicing these crappy loans so damn profitable? The crappier the loans the bigger the profits. The more homeowners that do not make payments on time, the more fees these sharks can feed off of. Multiply that by hundreds of thousands of crappy loans and you now have a pretty darn profitable shark trolling business.

    Hell, its a lot more profitable for Countrywide to service crappy loans then it is to sell them. Maybe that was all part of the grand scheme in what I have coined as "The Great American Homeowner Swindle".

    Some more shark food for thought:

    Why would Bank of America infuse the ailing Countrywide with 2 billion dollars? It's not because they are a great lender. NO! It's because Countrywide makes huge profits by servicing loans. Especially subprime delinquent loans and B of A wants a slice of that subprime toxic loan pie.

    BANK OF AMERICA IS PLANNING TO BE THE KING OF THE SEA!

    Rumors have it that a complete take over is in the works. B of A stands to profit enormously from the misery of American homeowners and servicing non performing loans.

    I always look to Wall Street and guys like Mad Money's Jim Cramer to validate my views. If Wall Street is looking at any of these companies right now as a good investment, then I know there must be a sick reason why.

    Jim Cramer:


    "But most important, in what looks like sheer genius, in less than a month it can buy Countrywide for what looks to be on the cheap in a business that is about to get great: servicing and issuing mortgages," Cramer said.
    So why is the servicing business about to get GRRRRRREAAAAAT? Hell, it's great now, it's only going to get fantastic as more of these predatory loans adjust and they can apply their predatory servicing tactics to really cash in on homeowners who are delinquent.

    Cramer- "I believe that the sudden rush to own servicing rights companies shows that there are going to be some big gains in that area, and Countrywide owns it."


    True, Countrywide went from being the biggest predatory lender to the biggest predatory servicer.


    "Bank of America will end up being the mortgage king in this country. Deposit king; mortgage king; fee king," Cramer added.
  3. evel1999

    evel1999 ASC Success

    All of this is making a lot of sense now.
  4. Serenity

    Serenity LoanSafe Member

    Ain't it just?? :cool:
  5. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Yes. But it's the people that keep fighting and gouging these sharks eyes and the ones that truly deserved to be helped that will WIN. These sharks can only troll for so long until they have to give in and comply. Evelyn is a perfect example of that. :)
  6. djdavisla

    djdavisla LoanSafe Member

    Happy holidays. Special b of a recipe to steal a home for xmas

    regarding loan number#

    step one.......warmly offer a payment plan to unsuspecting borrower. Borrower makes all payments as agreed. Lightly salt with false promises.

    Step two.......start foreclosure. Shocked borrower will not be prepared thus mix in more warm assurring dialoge. Sprinkle with requests for additional documentation.

    Step three...assign the file to john oblath have him appear to "negoiate" for loan modification ,mix in more reassurance and promises that file is going to underwriter for approval..have mr oblath lie and leave messages that sale is postponed till jan 14th 2011

    step four....sell borrowers home at auction on december 10th 2010 while still seasoning with lies that their file has been submitted for loan modification.

    Step five.....appear to agressively pursue recission of foreclosure from fnma while vigoursly stirring in demands from borrower that borrower immediately wire first $10,000 then $16,000 then $25,000.to bank of america. Send emails to borrower that situation is being resolved and foreclosure being rescined as soon as money is recieved.

    Step six final..........turn up heat on oven , ignore borrower , deliver up scrumpous property and serve to realtors for showings who come and go while borrower has no access to their home.

    Congratulations to bank of america for stealing another home.
  7. djdavisla

    djdavisla LoanSafe Member

    I will continue to update, in case anyone else gets this happening to them, i hope not. today the idaho attorney we hired emailed sent out letter telling them to return property , rescinde foreclosure , he cited a couple different laws they have broken. so, if they dont then a lawsuit. a california attorney gave me a faster thing to do , I like the way he thinks, so if it works I will share that too , concerning the title to our house..but the idaho attorney is putting a lis pendis on title also. no one, absolutely no one has contacted me from bank of america, not a peep. so , I am going to take this closer to home for the higher ups, we did that to indy mac /one west for my sister last year and within 30 mins the indymac people contacted our attorney for a meeting. what it involves is sending letters to their neighbors, their charities, people they see everyday, letting the president and chairman and other corporate members see and feel what its like when everyone knows you are a home stealer.so get ready barbara desoer, brian moyahan, joe price, and the others, your world just got a bit smaller................no, i am not some creep, some stalker, what i am his a homeowner who is past angry, i was lied to , my house stolen, I had bank of america "thugs"calling me emailing me to wire money immediately by western union on xmas eve to get access to my home, and one of them emailing me saying he has to rush home to be with his family while my was locked out of our house. I am sure they think this will blow over. well, yesterday there was someone on dr.phil talking about how he never gives up to find his kids. I knew how he felt. I will never give up on this. i allot a certain amount of my time daily to do something more and more each day, and I will turn up the heat daily till I get my house back.
  8. DBarr13447

    DBarr13447 LoanSafe Member

    djdavisla - Your story saddens me beyond belief...I wish I could give you the help and advice that would make this ok for you and your family, but I can't.

    Please know my prayers are with you I'm sure I'm not the only one here who is doing just that...

    Stay strong for you and your family - you sound like you're a fighter!

    Keep us posted, I'm sure there are many here who can offer you encouragement and great advice - Bless you and your family.
  9. djdavisla

    djdavisla LoanSafe Member

    NOTE. if people do not want me posting my story and updates on all bank of america posts. please advise. I just think since my situation shows how far this lender will go...they lied and stole my home at xmas. well, it will help people.
    so, today another 70emails, please note if they bounce back, when they worked the day before. it means they have blocked your email. 5 out of the 70 have done that so far, and the elusive melissa henderson, richardson, thomas, and the chairman, holliday jr, all had me blocked, but i changed my I.P. address, simple to do, and all emails went through. They are not going to live their cushy lives when they locked me out of my house on xmas eve and tried to get me to wire them huge sums of money. so we are told my file is now in the legal dept. well, it can get buried there, i am sure and I have ready spent thousands on attorneys and today to register my new site.... BANK OF AMERICA STOLE MY HOME ASK ME HOW. I own it (bank of america can buy it from me, but its going to be very very expensive), and within 48hrs I have many different materials arriving which with the help of my friends through out the united states I will plaster everywhere and anywhere I can. THe bumper stickers saying BANK OF AMERICA STOLE MY HOME. are probably going to be the most effective. especially if one lands on some corporate cars...of course i would not do that or encourage someone to do that, but if it happens, I will most def get a good picture of it, they are really strong and sticky and not easy to remove...........so , tommorrow another day.

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