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How Can I Reinstate My Mortgage Successfully?

Discussion in 'Bank of America Mortgage Help' started by customerconcern, Aug 25, 2010.

  1. customerconcern

    customerconcern LoanSafe Member

    I have been trying to apply for a Loan Modification since Dec. 2009 & stopped making my mortgage since January 2010. Just like most of us, BofA was giving me the run around. So I emailed the OOP on 7-26-10 & on the same day, Customer Advocacy – Cindy Repreza called me & said my file will be “escalated†to a “Senior Negotiator†– Cainan Anderson.
    On 7-30-10, I refaxed everything to Neg. Cainan & he confirmed he got my fax & that I am not missing any documents. However, I still do not know if I will be approved for a Loan Modification or not. Neg. Cainan said he will postpone the Trustee’s Sale, but how can I trust or know for sure he will actually do that? Can I ask my Negotiator to show me proof in writing that the auction date is really postponed or is there any way for me to check? I do not want another false promise from BofA then find out later I lost my house.
    Trustee’s Sale reads that my house will be auction on 9-10-10. I live in California and CA. Foreclosure Law gives the borrower before the 5th day of the Trustee’s Sale to reinstate my mortgage. How can I find out the exact reinstated amount & successfully reinstate my mortgage? What kind of payment (i.e. certified check, cashier’s check, etc…) will BofA accept & where do I mail reinstated payment to? I do not want the village idiots at customer service to quote me the wrong amount & I pay incorrectly & BofA still forecloses on me. (I am planning ahead of time if the Loan Modification does not get approved).
  2. broke Tex

    broke Tex LoanSafe Member

    Your best bet ( I belive) would be to contact the Attorney of Record. Should be on Foreclouse notice. And ask for reinstatement figuries from them. You can ask them also what they would accept. More than likely it will be a Cashiers Check. You would need to have this money in their office prior to 9-5-10. However that would be another question for them.You would need to act very quickly as your time frame is running short. I feel you should call your nego again and let Him know how concerned and worried you are. I belive you can not be forecloused on while under review. But should He call and say you were denied you would not have much time. I'm sure others can answer this better than me. However your sale date is very close. Hoping the Best for you
  3. chief115

    chief115 LoanSafe Member

    Tex is right about calling the foreclosure attorney and that is one action that I would take immediately. Unfortunately, we can't trust these banks to do what they say they are going to so you have to be proactive and keep on your toes. You should be able to get the reinstatement figure from them and if my memory serves me correctly it has to be certified funds...certified check, money order etc.. I would send the funds certified, return receipt requested so that you will have that information for your records. Write down the check information...numbers etc...and make a copy of your check just in case it gets lost some where and you have to have proof. You can't be too careful when you are dealing with such time sensitive matters. Check, double check and triple check if you have to.
  4. tryinmybest

    tryinmybest Guest

    I pulled a piece of property out of a Chase foreclosure. The property was only 60 days delinquent but had 50k in equity. (at
    least on paper). Yes, you call the foreclosure attorney. You can ask for a break down of the fees you owe. It must
    be certified funds. In my case, I took the check in person to a place that looked like a blend between a call center and
    what I imagine a prison must look like. no joke! Be prepared to pay out of the nose. Very few people, pull a property out
    of foreclosure (in my opinion)
  5. customerconcern

    customerconcern LoanSafe Member

    @ tryinmybest & chief115 or anyone: On my actual "Notice of Trustee's Sale", BofA has RECONTRUST COMPANY as the Trustee with their address & phone#s, but it does not show who is BofA's Foreclosure Attorney. How can I find out who is the Attorney on Record? Will this Attorney also tell me how & where to send in my reinstated payment?

    Also, the Notice of Trustee Sale document discloses the auction price. As an estimate, can I calcualte: Auction Price - Loan Balance = $ Reinstated Payment or the amount is much higher?
  6. customerconcern

    customerconcern LoanSafe Member

    Anyone can help answer my questions and/or give their experience? :confused: Technically, Sept. 3, 2010 (Friday) is my last day to reinstate my mortgage and I am getting SO worried & stressed out. :(

    My Negotiator did say he was going to postpone the Trustee's Sale on the 6th day before the Auction date, but how can I trust and/or check that he actually postpone it? Why can't he postpone it now rather than wait the 6th day before the Sale Date?
  7. Iamtrying

    Iamtrying LoanSafe Member

    Call this number 800-262-4218 and ask for the Reinstatement Calculations. Have a fax number ready so they can fax them out to you. It may take a couple of days to get the amount or it may end up getting faxed out to you in the same day. They will also mail you a copy of the Reinstatement Calculations.
  8. daneam

    daneam Senior Member

    customerconcern what happened? I am facing the same situation with Chase. Chase told me I can get it reinstated till one day before the trustee sale....don't know if it is true.
  9. fighton

    fighton LoanSafe Member

    I'm in same way with chase. My sale date is 12/27 and called quality loan Corp the trustee company and emailed them last week for the reinstatement figures but have not heard any reply I just get a voicemail. How can we reinstate if we don't know how much? Another nonsense move by the banks. I don't even know why the banks even ask if I plan to pay when They take the payment why can't just pay the amount I owe but have to pay all the legal fees also. Anyways I just can't rely on chase. So if I don't get any decision on my loan mod I think I'm gonna visit a bankruptcy lawyer to at least stop the sale. I was planning to anyways so well see. Let me know how things went with you daneam. Anybod know an affordable and honest bk lawyer in so Cali? Any experience with price law group? I was considering them.
  10. daneam

    daneam Senior Member

    fighton I just got a loan modification from Chase last week, so they put all missed payments to the back of the loan. I think calling the upper management makes a huge difference.


    David B. Lowman CEO Home Lending
    Phone: 636-735-2121
    Fax: 314-256-2800
    E-Mail Address: david.b.lowman@jpmchase.com
  11. runin' around

    runin' around LoanSafe Member

    Customerconcern,

    Would you be willing to share Cainan Anderson's e-mail address? We were told last Friday that he is our negotiator. Our file sat in limbo while we received many calls from the kind collections folks in India. Then the CEO's office received my certified, return-receipt-requested letter, and we suddenly have a negotiator. I'm guessing he never answers his phone, so have been trying to guess what his e-mail address might look like. Thanks for any info.

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