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Notice of rescission of declaration of default

Discussion in 'Bank of America Mortgage Help' started by Enrique, Jul 24, 2011.

  1. Enrique

    Enrique LoanSafe Member

    Hi Everyone,

    My situation is one where I stopped paying my mortgage in Feb of 2009 (yes that's about 29 months ago, thank you BofA). They originally filed a NOD back in Feb of 2010 and kept postponing the sale date month after month.

    In June (last month) they filed a NOTICE OF RESCISSION OF DECLARATION OF DEFAULT AND DEMAND FOR SALE AND OF NOTICE OF DEFAULT AND ELECTION TO SELL. The are basically cancelling the original NOD that they filed in Feb 2010.

    Has anyone else experienced this?

    Does anyone know why the bank would do this?

    A lawyer friend tells me that this means they have to start the foreclosure process from the beginning again, but not doesn't know why they would do this.

    Enrique
  2. moretrouble

    moretrouble LoanSafe Member

    I know here in Oregon, after the McCoy rulling BOfA rescinded hundreds of NODs be cause they know they will lose in court in term of standing issue, including mine. I am still wating for the new NOD if there ever be one. Stopped payment since Nov 2009.
  3. nugirl

    nugirl LoanSafe Member

    One possiblity could be that they didn't follow your state laws regarding foreclosure. And they are just covering their *****.
    Another reason, documents could have been robo-signed.
  4. Enrique

    Enrique LoanSafe Member

    Thanks for all the info... McCoy ruling or robo-signing could be reasons. As I said, BofA rescinded the NOD in June. It's already August and they have not filed a new one yet. Who knows how much longer I will have.
  5. calgirl67

    calgirl67 LoanSafe Member

    I got my NOD a week ago.

    My assignment of deed of trust (5 yrs late) and NOD WERE robosigned and I have proof. In California the courts don't care... all they care about is did you make your payments or not. If not, you're being foreclosed and who cares about the legality of the documents.

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