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Bank of New York Mellon filing foreclosure

Discussion in 'Bank of America Mortgage Help' started by iowagirl, Apr 16, 2012.

  1. iowagirl

    iowagirl LoanSafe Member

    Just looked up my and my husbands name in online courts and NYBM is filing some sort of foreclosure process against us. We were originally with CW since 2006 sold to BOA and made our last payment 1/1/2011 and began working on modification. We have been working hand in hand with a non-profit who in March was told by someone with BOA that we qualified for the new program and that we should wait to hear from them. Now this, filed 4/13/12. We have never received anything by mail or otherwise from New York Bank of Mellon. Can anyone give me any insight????
  2. freedomwon

    freedomwon LoanSafe Member

    iowagirl - Do you happen to know if BONY (Bank of New York Mellon) is the investor on your loan? And is Bank of America still acting as the servicer of your loan? If so, this is the first I've ever heard of where the investor is actually filing foreclosure documents. Normally the loan servicer takes care of that for the investor. Was your loan sitting in a BONY trust?

    If you haven't done so already, I would suggest going to the county recorders office in person & getting copies of all documents filed on your property since the inception of your original loan. It's important to have a clear understanding of who all the players are & what their role is in this process.

    Have you received a NOD (Notice of Default) & if so, from whom?
  3. iowagirl

    iowagirl LoanSafe Member

    TG!!

    Oh I am so happy it is you who are replying Freedomwon, you are one of the most inspirational on these boards along with Tom and Acesful and others. I kinda lost track of things the last couple months because they were on a back burner status due to the DOJ option. I once looked online ( after being referred on this these boards) and I think BOA is still the servicer, but BONY was listed as the Investor. I received that letter last year that a lot of people did that BOA was transferring things to another BOA servicer wing. Tactical move on their part to cover the wet spot. I am assuming that what is being sent is the NOD now, after 16 months of no payments. Still kinda floored though that it is filed by BONY. they have never reared their head until now. Since I haven't received it yet, it was just filed last Friday, 4/13, I too am curious who it is being sent from, but it definitely shows BONY on the online records. I guess, in a way, I have been playing the Hampster wheel-dance, but always thinking that one day we would actually be able to keep our home, but the light is dimming at the end of that tunnel. I definitely want to play this out as long as I can, but now that a NOD is being mailed to me , what should my next step be? Should I push for another HAMP app or contact BOA directly. I am not aware of any contact we have other than the one that recently notified us of our DOJ eligibility. Thanks again, FDW, for being such an inspiration and hero to everyone here.
  4. freedomwon

    freedomwon LoanSafe Member

    Iowagirl - I'm scratching my head as this is the first I've ever heard of BONY (the investor) actually filing the NOD. Here's what I recommend. Give it 10 days or so for a copy to arrive by mail. You should receive a copy. If not, then physically go to the recorders office & get a copy yourself. Sometimes what you're able to view online is not the complete document.

    Once you receive your copy, look for the name of the trust contained within the document. It will say something like mortgage pass through certificates CWALT 2007-2CB. Once we've got that figured out, we'll formulate an action plan!

    You can definitely try applying for HAMP & all documents for the HAMP application should arrive to the servicer 14 days prior to your sale date. You don't even have a sale date yet, so you've got more time on the wheel. In the meantime, save whatever money you can. Do not spend it on frivolous things. Hopefully, you've been stashing some cash all along.
  5. iowagirl

    iowagirl LoanSafe Member

    Thank You!!

    Thank you!!! I'll be reporting back here as soon as I get documentation. Stashing, yes. Just not as much as we should have. That's changing effective, immediately.
  6. iowagirl

    iowagirl LoanSafe Member

    Was Finally served last night by the county sheriff.
    The document is as follows:
    THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWABS, INC. ASSET-BACKED CERTIFICATES, SERIES 2006-6, Plaintiff
    vs.
    US

    To the above named defendents:
    You are notified that a Petittion has been filed in the office of the clerk of this court naming you as defendent in this action. The attorney for the plaintiff is ......
    You must serve a motion or answer within 20 days after service in the XXXXX County Courhouse. If you do not a judgement by default may be rendered against you.

    NOTICE
    THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION, THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGEMENT UNLESS YOU FILE A WRITTEN DEMAND TO DELAY SALE. THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGEMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND A ONE-FAMILY DWELLING.

    And so on and on. The strange thing is BAC is our loan servicer, BONY Mellon is the investor and it was just assigned to them and recorded 8/23/11 of last year. BONY are being represented by an attorney out of Des Moines.
    So of course I'll file a Demand for Delay of sale but how do I answer this petition. It seems awfully fishy that the investor is circumventing the servicer, especially when we are in the process of HAMP and DOJ eligibility. I realize these processes don't negate them pursuing foreclosure but why didn't BAC enact the process? Strange.

    Any and all advice would be so appreciated. Please help us.
  7. iowagirl

    iowagirl LoanSafe Member

    Was Finally served last night by the county sheriff.
    The document is as follows:
    THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWABS, INC. ASSET-BACKED CERTIFICATES, SERIES 2006-6, Plaintiff
    vs.
    US

    To the above named defendents:
    You are notified that a Petittion has been filed in the office of the clerk of this court naming you as defendent in this action. The attorney for the plaintiff is ......
    You must serve a motion or answer within 20 days after service in the XXXXX County Courhouse. If you do not a judgement by default may be rendered against you.

    NOTICE
    THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION, THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGEMENT UNLESS YOU FILE A WRITTEN DEMAND TO DELAY SALE. THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGEMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND A ONE-FAMILY DWELLING.

    And so on and on. The strange thing is BAC is our loan servicer, BONY Mellon is the investor and it was just assigned to them and recorded 8/23/11 of last year. BONY are being represented by an attorney out of Des Moines.
    So of course I'll file a Demand for Delay of sale but how do I answer this petition. It seems awfully fishy that the investor is circumventing the servicer, especially when we are in the process of HAMP and DOJ eligibility. I realize these processes don't negate them pursuing foreclosure but why didn't BAC enact the process? Strange.

    Any and all advice would be so appreciated. Please help us.
  8. freedomwon

    freedomwon LoanSafe Member

    Hi iowagirl - This is the first I've seen where the investor has circumvented the loan servicer. Since BONY has a contract with BAC to service the loan & BAC has been negligent and or not doing a good job, BONY can terminate their contract. It's entirely possible that BONY has fired BAC as your loan servicer & decided to service it themselves. I'm simply making an educated guess here, we have no proof this is what has occurred.

    The good news is if you provide a written demand to delay the sale, you will be granted an additional 6 months.
    Be sure to include that in your written demand to delay the sale. A judge will see there's a valid reason for your request.

    In regards to filing an answer with the court, I would do so on or about day 18 just to be safe you're within the legal time frame. I would make a trip down to the local court house or call & see if you can speak with a paralegal or a public defender to get some advice on filing your answer.
  9. yiqianzhang

    yiqianzhang LoanSafe Member

    I am in a similar situation. Loan originated with CW in Dec 2006, later sold to BOA and made my last payment 2/1/2011. Checked County Recorder Office online 7/12/12 and there was an assignment of deed of trust to Bank of New York Mellon TR. The only difference is I am in CA which is Nonjudicial. Talked to my CRM at BOA and was told Freddie Mac is just waiting for a 1377 form before proceeding with the process. I was prepared to get my NOD any time now and be out of my place by Christmas at the latest. Not sure what the timeline is if I go down the route of judicial process. Any idea, freedomwon?
  10. freedomwon

    freedomwon LoanSafe Member

    I really don't know but perhaps others reading here might provide some insight.
  11. nw10986

    nw10986 LoanSafe Member

    I too was served back in oct 2011 with BONY initiating the foreclosure. This too was an original countrywide loan and transferred to BOA as well. This sounds like some kind of games BONY seem to be playing dictating policy and getting away with it in the shadows of BOA. I really think there should be some sort of eyes placed on these crooks BONY as well to make them come out of hiding and into the light once and for all before they ruin more peoples lives!!
  12. doxielov

    doxielov LoanSafe Member

    I am replying late to this thread, however, my original foreclosure filing was from Bank of New York Mellon/CWALT in Jan of 2009. I replied to stop the foreclosure as I was in the process of modifying via a third party mitigation company (big mistake, but Countrywide wasn't working with me) Long story super abbreviated...never was offered a modification after B of A took over and third party mitigation was dissolved. Attempted short sales via the cooperative short sale program, but just like everything else they say they will do...they let two sales fall through for 'lack of documents'. Walked away from the home and rented. Original foreclosure was dismissed in 6/2011 for no action (FL courts), and HOA lien foreclosed for back fees in 4/2012 and have been renting the property. Now here we are in 5/2013...Select Portfolio Servicing has taken over since October 2012, and apparently has no idea that I haven't had the title to my house in over a year, they sent me 'modification packages' which I ignored being that I don't live in the house, nor do I own it, nor do I want it. Now they are sending letters threatening to take legal action for on behalf of BONY, the investor. Lots of research on my mortgage assignment and promissory note suggest robosigning (David Spector rubber stamped my Decision One note)...the CWALT 2006-oc6 certificate that my mortgage was 'deposited' into doesn't show up for two months into the BONY deposit reports for that pool. Lawyers who prepared my mortgage assignment were disbarred for fraud two years ago, and the signature as a secretary for MERS was an attorney with the now disbarred firm (Adorno and Yoss)...(I have a statement on record listing the firm that she worked for on her public reprimand case file). I'm pretty sure this is why I've never gotten anywhere with modifying my loan or selling this property...and probably why B of A has never foreclosed me. According to my case number, five months after they recorded my original promissory note, the case was dismissed. (exactly three years after my first default payment). So many thousands of garbage loans/securities deposited into these trusts, BONY stands to claim $8billion from B of A for the fraud that Countrywide committed...yet they still come after the homeowners who have been powerless in mortgage purgatory...and the old court judges just continue to side with the banks because 'you signed a loan, and you should have paid'. It's a crime. Debating now about fighting the foreclosure when it's filed for lack of standing, but out of exhaustion may just file Chapter 13, wave my white flag, and put the whole thing to rest.
  13. kcomco

    kcomco LoanSafe Member

    I have been having a similar problem with my loan and when I asked Bank of America here is what someone from the office of CEO sent me:
    According to our records, a Notice of Default was mailed to you dated October 31, 2012, which informed you that Bank of America services the loan, and that the foreclosure will be conducted in the name of The Bank of NY Mellon FKA The Bank of NY. Please understand that The Bank of New York Mellon acts as the trustee on behalf of the investor, who is Bank of America.

    In other words Bank of America claims that “Bank of New York Mellon is a trustee who is acting on behalf of Bank of America who is the investor.” The letter further states that this is why the foreclosure is in the name of Bank of New York Mellon. However, the documents sent from BofA’s foreclosure lawyers at Aronowitz and Mecklenberg, specifically states that Bank of New York Mellon is the investor – as successor trustee to JP Morgan Chase. THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS SUCCESSOR TRUSTEE TO JPMORGAN CHASEBANK, N.A., AS TRUSTEE E CERTIFICATEHOLDERS OF THE CWHEQ INC., CWHEQ REVOLVING HOME EQUITY LOAN TRUST, SERIES 2006-B

    Aronowitz and Mecklenberg sent documents of transfers from Countrywide to MERS; and transfers from MERS to Bank of New York as Trustee to JPMORGAN Chase (The MERS documents are suspect and possibly robosigned). Nowhere in the chain of custody is Bank of America listed as the investor. MERS currently lists JP Morgan Chase Bank NA as investor.


    FYI: I am not a lawyer – I am an English teacher. Perhaps someone who knows more could clarify? Freedomwon?
    Last edited by a moderator: May 29, 2013

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