Home Loans and Support

Please help. I need to stop the sale of my home, just found out i'm mers elig. B of a broke many law

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by tiredofbofabs, Feb 24, 2012.

  1. tiredofbofabs

    tiredofbofabs LoanSafe Member

    My home goes to auction next Thursday, I will have to file for bk by Monday and would like to extend the bk and sale date.

    My loan was originally with Countrywide, jumbo, 10 year interest only, Mers was the original trustee, don't know when Recon trust took over. I know the way that was handled was illegal (or I think) I’m new to this site and just getting mers information.

    I'm in this trouble because B of A screwed up the servicing of our loan.
    THEY INCREASED OUR MORTGAGE PAYMENTS BY ALMOST 100% WITHOUT NOTICE. OUR PROERTY TAXES FOR PAID BY B OF A FOR THREE YEARS (ONE YEAR NOT YET DUE), AND NOW TEY INFORMED US WE OWED THEM $33,000.00 AND HAVE TO PAY THEM PLUS WE HAD NEW PAYMENTS TO REPAY THAT DATE OVER A CERTAIN TIME (I FIGURED OUT IT WAS AMORTIZED OVER 5 YEARS), THE PAYMENTS INCLUDED IMPOUNDS FOR FURTHER PAYMENT OF TAXES, REPAYMENT AMOUNT AND A BUNCH OF FEES, AND CHARGES, ETC. ALL OF WHICH STILL HAS NOT BEEN EXPLAINED TO ME. SINCE THE ORIGINAL INCREASE, IT HAS BEEN INCREASED ANOTHER $500.00 PER MONTH WITHOUT EXPLANATION OR EVEN A LETTER ADVISING THE PAYMENTS HAD INCREASED.

    Ever since the date of the increase in our mortgage payments and PRINCIPLE BALANCE, IT HAS INCREASED AND NOW THE PRINCIPLE IS ALMOST $90,000.00, MORE THEN THE ORIGINAL BALANCE AND THE AMOUNT TO PAY OFF. I STILL DON’T KNOW WHAT THE CHARGES ARE?

    A LOAN SHARK WOULD HAVE GIVEN ME BETTER TERMS AND TOLD ME IF HE WAS PAYING A DEBT. I was not given any choice. They paid it and now I better pay or they are taking away our house.
    If they had even inquired about the taxes and I knew what would happen, I would have paid the taxes. I still had that money, and since it was paid a year earlier, I could have paid the future taxes.


    In addition, they really put a new loan on the house by implementing a repayment amount, amortizing the payments, again, without notice.
    SHOULDN’T I HAVE EVEN GOTTEN SOME SORT OF DISCLOSURE EXPLAINING THE PAYMENTS? SOMETHING SEEMS SO WRONG, DON’T CONSUMERS HAVE AGENCIES PROTECTING THEIR RIGHTS?

    RE: Property taxes. In addition, impounds.
    If they had inquired, I could have told them the delinquent property taxes were initially due to an error by the
    County. . I made arrangements with Countrywide, and The County Assessor’s office. My payment arrangement with the county was simple: I had five years from the delinquent date to pay the taxes in full meanwhile, I could pay monthly, or whenever before that deadline.
    I was even uncomfortable that I didn’t have something in witting from Countrywide agreeing to let me pay off the taxes, so a few months called my countrywide contact. The call went straight to the B of A customer service dept. They would not, give me any information. They didn’t seem to know what property taxes were? Since then, I have been in B of A hell

    I was also working with countrywide to refund money to us for an erroneous escrow set up for hazard insurance when B of A took over the loan. That money was held for years. WHAT HAPPENED TO RESPA, AND OTHER REGULATORY LAWS?
    I REQUESTED THE LOAN HISTORY MONTHLY FROM B OF A. THEY NEVER TOLD ME THEY DIDN’T HAVE IT, I FOUND THAT OUT LATER. BUT IT DOES EXPLAIN THE RUDE BEHAVIOR AND TELLING ME THEY DON’T HAVE TO GIVE ME ANY INFOMRAION TO LOOK IT UP IN MY RECORDS

    I DIDN [T KNOW WE WERE IN TROUBLE UNTIL WE RECIVED AN ACCELERATION LETTER. THE DATE OF THE LETTER AND DUE DATE FOR MY FULL PAYMENT WERE LESS THEN 20 DAYS. WHAT HAPPENED TO THE REGULATORY LAWS, SPECICALLY THE ONE THT SPECIFIES THEY MUST GIVE AT LEAST 30 DAY NOTICE TO REPAY A DEBT. I HAD MORE PROBLEMS, I DIDN [T WHEN THE LATES OCCURRED AND HOW THEY CAME UP WITH THE AMOUNT OWED.

    THE FOLLOWING MONTH I RECEIVED THE LETTER REGARDING OUR NEW PAYMENT AND AMOUNT WE NOW OWED.

    IT TOOK ANOTHER TWO MONTHS TO FINALLY GET THE LOAN HISTORY.

    NOT ONLY DID THE LOAN HISTORY SHOW THE PROPERTY TAXES FOR THE DELINQUENT YEAR AND UPCOMEING YEAR HAD BEEN PAID MORE THEN A YEAR BEFORE I WAS NOTIFIED, THEY PAID AN ADDITIONAL YEARS PROPERTY TAXES MONTHS LATER. AGAIN, THOSE TAXES WERE NOT DUE YET.
    THE LOAN HISTORY ALSO SHOWED WE HAD 8 PAYMENTS (PARTIAL, AND ALMOST FULL PAYMENT IN A MISC. ACCOUNT.

    OUR MONEY WAS CASHED BUT NEVER APPLIED (STILL HASN [T BEEN) TO THE PAYMENTS OR THE BALANCE. OUR LOAN WAS AN INTEREST ONLY AND WHEN WE COULD, WE WOULD PAY MORE THEN THE PAYMENT AMOUNT TO LOWER THE BALANCE.
    TO THIS DAY, THE MONEY WE PAID IN MISC. IS STILL THERE I GUESS B OF A WILL JUST POCKET IT WHEN THEY SELL THE PROPERTY. I GUESS WE CAN FORGET ABOUT BEING PAID INTEREST.

    AFTER DAILY CALLS AND MONTHS OF AGGREVATONS, THE ONLY SOLUTION I WAS OFFERED TO LOWER THE MORTGAGE PAYMENTS AND GETTING THE MISC. FUNDS APPLIED TO MY ACCOUNT WAS TO MODIFY THE LOAN. ONCE MODIFICAITON WENT THROUGH, THEY WOULD ADJUST THE MISC. FUNDS AND CREDIT TOWARD THE PRINCIPE BALANCE OR PAYMENTS DUE.

    THEY ALSO ADVISED DOUBLEING OUT PAYMENTS TO EXTEND THE NEW DUE DATE. ONCE, WE GOT THE MODIIVAITON EVERYTHING WOULD BE STAIGTENED OUT AND ANY CREDITS ADJUSTED.I WAS TOLD THE MODIFICAITON WOULD ONLY TAKE 30 TO 60 DAYS THE NEW PAYMENT AMOUNT STILL WOULDN’T BE DUE YET.

    MY PAPERWORK WAS IN, CONFIRMED AND I WAS TOLD I WAS APPROVED, SINCE I CALLED WEEKLY, I WAS TOLD IT WAS APPROVED AND JUST WAITING FOR THE UNDERWRITER TO COMPLETE THE PAYMENT AMOUNT OF THE MOD,

    IT WAS NOW THE MONTH THE NEW UNAFFORDABLE PAYMENT AMOUNT WAS DUE. IF I PAID ANYTHING LESS THEN THAT AMOUNT MY MONEY WOULD STAY IN MISC. LIMBO NOT APPLIED UNTIL THE FULL AMOUNT WAS PAID.

    I WAS DESPARATE AND DON’T WANT TO GO INTO ANYTHING MORE SPECIFIC, I FOUND OUT DIRECTLY FROM A HIGH LEVEL EXECUTIVE AT B OF A, A PERSON WHO SETS POLICY.THEY WOULD NOT DO ANY MORE LOAN MODIFICAITON. THEY SHOULDN’T HAVE DONE ANY OR IMPLEMENTED THE PROGRAMS.
    THEY WANT TO FORECLOSURE AND POLICY WAS NOW TO FORECLOSE ON AS MANY PROPERTIES AS POSSIBLE IN THE NEXT TWO YEARS. THE PEOPLE ASKING FOR MODIFICAITONS SHOULD FIND A JOB! THE MODIFCATIONS WERE A JOKE, AND PROLONGING THE HOUSING MESS. THEY WOULDN’T RECOVER UNTIL ALL THE FORECLOSURES WERE GONE AND THE MARKET COULD START NEW

    THE OBAMA PROGRAMS WERE LAUGHED AT. IT WAS NO MORE THEN MARKETING TOOK FOR OBAMA. IN ADDITION, ALTHOUGH SHORTLY AFTER FORECLOSURES WERE HAULTED, I UNDERSTOOD WHAT THE BANKS WERE DOING AND THEY WOULD NOT DO ANYTHING THEY WEREN’T FORCED TO DO. THEY RESENTED THE GOVERNMENTS INTERFERRANCE.

    I MADE THE DISCIONS RIGHT THEN, I WOULD NOT SPEND WHAT LITTLE MONEY I HAD LEFT TO PAY THE MORTGAGE ONLY TO LOSE MY HOUSE ANYWAY.
    B OF A MADE PROMISES AND LIED WITHOUT ANY INTENTION OF KEEPING THEM. I STOPPED PAYING MY MORTGAGE

    FOR THE NEXT 9 MONTS, MY APPROVED LOAN MOD (NOT) WAS IN PROCESS AND THEN IT WAS DECLINED WITHOUT EXPLANATION . THE DECLINE LETTER STATED THEY WOULD RESEARCH OTHER MODIFICIONS PROGRAMS AND INFORM ME WITHIN 30 DAYS WHAT THEY COULD DO FOR ME. I NEVER HEARD FROM THEM AGAIN.

    I DID APPEALE THE DECLINE AND WROTE A LETTER TO C.E.O. OFFICE. THEY WERE ALL OVER IT AND WANTED TO HELP WITH THE MODIFICATION AND EVERYTHING WOULD GO THROUGH THEIR OFFICE. THEY LOST INTEREST SHORTLY AFTERWORD AND IT’ WAS THE SAME STORY, THEY DIDN’T GET THE FIANIALCILS, THEY WERE MISSING A SIGNED FORML THEN THEY DIDN’T HAVE FINANCIALS. IN TOTAL, I SENT FULL PACKAGES OF 150 PAGES TO THEM BY FAX AND BY FED EXPRESS. THE LAST LETTER I RECEIVED REQUESTING ADDITIONAL DOCUMENTATION WAS JUNE 2011. I ONCE AGAIN SENT EVERYTHING. I NEVER HEARD FROM THEM AGAIN AND RECEIVED THE N.O.D. IN OCT., THE SALE NOTICE IN FEB 2012., AUCTION DATE, MARCH 1ST.

    I CALLED THE FORECLOSURE DEPARTMENT TO TRY TO EXTEND THE SALES DATE. I WANTED TO KNOW WHATEVER HAPPEND TO THE LOAN MOD. THEY SAID WE NEVER TURNED IN FINANCIAL BUT WHILE SHE STARTED TO READ ABOUT IT SUDDENTLY STOPPED AND WOULDN’T GIVE ME ANYMORE INFORMATION. THE DATES OR POSSIBLY THE FACT THAT THEY DID HAVE MY FULL PACKAGE 6 TIMES (7 IN PRIOR 12 MOTHS). WHATEVER IT WAS I’M SURE IT WAS SOMETHING SCREWED UP ON THEIR PART.
    SHE TOLD ME I QUALIFIED FOR ONE OF THE NEW LOAN MOD PROGRAMS (SURE) AND IF I GET ALL THE PAPERWORK TO HER ASAP, THEY CAN PUT IT IN MODIFICATION STATUS AND THE SALES DATE WOULD HAVE TO BE EXTENEDED.

    I IMMEDIATELY DID WHAT I WAS ASKED. BUY MONDAY FEB. 20[SUP]TH[/SUP], THEY CONFIRMED ALL THE PAPERWORK WAS IN AND REVIEWED BY THE PROCESSOR AND IT WAS READY TO SENT TO UNDERWRITING FOR A TRIAL LOAN MODIFICATION. I SPOKE TO THE FORECLOSURE REP ON WEDNESDAY FEB 22[SUP]ND[/SUP], NEEDING STATUS ON THE SALES DATE EXTENSION AND WAS INFORMED SHE COULDN'T SUBMIT THE REQUEST FOR SALES DATE EXTENSION UNTIL 5 DAYS BEFORE THE SALE DATE. IT WOULD BE DECLINED IF SHE REQUESTED IT ANY EARLIER. I LET HER KNOW IT WAS NOW 5 BUSINESS DAYS BEFORE THE SALE DATE AND SHE TOLD ME SHE SUBMITTED THE REQUEST WHILE I WAS ON THE PHONE. THE INVESTER HAD 48 HOURS TO RESPOND. I WOULD HAVE AN ANSWER NO LATER THEN MONDAY, FEB 27TH.

    I HAVE BK PAPERWORK AND ATTORNEY READY FOR FILING BK TO STOP THE SALE, BUT I WOULD PREFER TO HOLD OFF ON THE BK UNTIL I CAN FIND A JOB. I DON’T NEED THE EXPOSURE ON PUBLIC RECORDS. .

    TIME IS RUNNING OUT AND I HOPE THAT SOMEONE CAN TELL ME IF THERE IS ANYTHING I CAN DO TO PREVENT THE SALES DATE. I BELIEVE B OF A HAS VIOLATED MANY LENDING LAWS AND REGULATORY REQUIREMENTS.
    I’M JUST LEARNING ABOUT MERS, AND IT MY ORIGINAL DOCUMENTATION HAVE MERS AS TRUSTEE OR WHATEVER. I DIDN’T RECEIVE INFORAMTION ON THE TRAINSFER. IS THERE ANYTHING I CAN DO OR IS IT TO LATE FOR LEGAL ACTION? OH AND I CAN’T ATTORNEY.

    I WOULD BE SO GRATEFUL IF SOMEONE COULD HELP ME.

    THANK YOU.

    I APOLOGIZE FOR THE LONG POST BUT I GET EMOTIONAL WRITING ABOUT THIS HORRIBLE EXPERIENE WITH B OF A.
  2. MIDSOUTH

    MIDSOUTH LoanSafe Member

    Wow..I can certainly understand your frustration. I believe I have attached the HAMP handbook..although I can not see it while typing this. But anyway, if it does not upload, just google "MHA handbook 3.4". This a a handbook for the servicers participating in HAMP. It is a directive-meaning it is not law, but could help in getting their attention. You need to start emailing all of the contacts for BOA with quotes from the handbook. According to the handbook, while your HAMP is being reviewed, the servicers MUST NOT foreclose your home. Put together an email (first type out your letter and then cut and paste it into an email and send the email to all the addresses listed in the BOA section of this site. Then take your letter and prepare a fax coversheet and fax the letter to all the fax numbers (also in this site). Then cc the OCC and any other agency you can think of. This site is amazing for getting info for us homeowners!

    Also, a timeline of the course of events would be easier to understand. This is a stressful time to be sure, but a calm head will prevail--it was hard for me to grasp that we needed to look at this like a business--the banks are hoping that your emotions will prevail and cause you to do something rash...keep calm and make your plan! You have alot of people on this forum who are wonderful and will help
  3. mztabu

    mztabu LoanSafe Member

    True about postponing the Sale date and more

    I am so very sorry to hear of your experience.

    Midsouth offer's excellent advise about contacting the CEO....their contacts are in another thread

    If i can offer you some comfort I can share that I had a harrowing experience with my sale date also. However, working with the office of the CEO they were able to request postponing the sale date 5 days prior and wouldn't receive confirmation until 24 hrs prior. I was told it was pretty much common for them to approve the postponement but it is crazy making for sure. They did postpone it and they say I will continue not know until 24 hrs prior. After filing letters I describe below they now automatically postpone it while they require additional docs or it is in review.

    Go to http://www.recontrust.com and put in your state and county and you will see the sale date. I was able to see it postponed prior to the representative. That is if recontrust is the foreclosing attorney, which by the way is owned by BofA

    Next I faxed the situation to my congress person stating how their procedure to postpone 24 hrs. prior would make it difficult to borrow the money and get a cashiers check to the bank before the sale etc and all the other stuff I went through.
    I also filed the same overview to the office of the Comptroller of the Currency. you do it online. They say this is the biggie.
    Also wrote a letter in detail to the CEO office.

    I call after I submit info...initially they didn't receive doc's because they were with a co invester and the co invester's system is not tied to their's. Keep track of the tracking number when you send fed ex and call the next day or go to fedex website to track that it was received. That is suppose to be enough for them. I also will fax them if they do not show up in their system.

    I finally received a letter from my rep in office of the CEO a couple of weeks ago because they had inflated my reinstatement calculations and no one could tell me what they were along with not supplying MERS milestone. Sure enough they charged 7 yes 7 inspection occupied fees of $15 on the same day for a total of $105 and waived the other inflated fees.

    Now I am waiting and nervous my mod won't be approved and the property sold in march so today I sent a long response to the letter I received a couple of weeks ago and went after the lack of the endorsed note and deed and they have not provided the MERS Summary, which they said they do not have.

    I am by no way an expert but I would be willing to share some of the verbage and cited cases I have regarding MERS.

    DO IT ALL IN WRITING....which you can do. Now that you have it down on paper, go through and streamline the facts. Wishing you the very best...let us know how it works out....
    Last edited by a moderator: Feb 24, 2012
  4. tiredofbofabs

    tiredofbofabs LoanSafe Member

    Thank you both for your help. I'm so sorry to hear you are all going through the same thing. I will do everything you recommeded. I tried to send a private email but it didn't go through. I wanted to share something that I'm not comfortable puttinng it on a public website. It may or may not be of any help. If you can please give it to me again.

    I did email the CEO office a year ago after I finally received the mod decline and was appealing. I had many problems with B of A, mortgage, credit cards, identity fraud, check fraud. The thief's somehow just go my checking account number and printing checks to go on a buying spree. The checks didn't even have our names on them but that's another story.


    We have had accounts with B of A for over 20 years without incident then 2008 hit and it went crazy.


    Anyway, they were helpful at first and tried to help with the modification but soon it was the same thing. They needed additional paperwork, then
    updated financial. This went on for several months and each time I complied. Soon, my contact person was available and I had to talk to someone else, and then next time another person. It was just a more sophisticated customer service. The last letter I received was in June 2011 requesting more information which I sent. I never heard from them again. When I spoke to the foreclosure rep last week she said the modification didn't go through because they didn't receive all the documentation. They never even sent me a decline letter. So, I think they are tired of me.






    By the way, recon trust is the trustee on the sale. Since Mers was on my original loan documents, mers had to transfer their interest in the property to Recon Trust, is that correct? We should have gotten notice of the transfer? Is that what the while mers thing is about? If that is the case how do you find the records to show the transfer and if it was done correctly. I can g;guarantee if this was done anytime after 2007, they were not transferred correctly. Countrywide was always a mess and b of a became an out of control monster after they took over Countrywide. If anything was done by those company's or mass quantities were done at the same time, 90% or higher were not handled correctly and broke the chain of title. My fear is B of A is there right now trying to paper the files with correct paperwork. I will bet money the originals were trashed or never found.


    Thank you so much for your kind help I will follow your advise and anyone else who can help. I don't feel so alone in this nightmare anymore, but I'm sorry you are in this too. . Please update me on your situation by email or on the web site. I will be following it closely.




    t






  5. mztabu

    mztabu LoanSafe Member

    Last edited by a moderator: Feb 24, 2012
  6. MIDSOUTH

    MIDSOUTH LoanSafe Member

    HI FROM TEXAS TIREDOFBOFABS!
    It sounds like you were involed in the "perfect storm". BOA took over Countrywide in 2009 and from there...jeeze... just read homeowners' posts from 2009-2010 and part of 2011. It was pure devastation. I am a newbie here (having requested my first mod in Jan 2012)...but believe me (and you are one of the many longertimers that I have gotten quite a good instruction from) things appear to have settled down some. BOA took way too much on at a time when no one thought this was going to happen. I suggest to you that things have changed. I submitted my request for the very first time in Jan 2012 and as of a week and a half ago my file is in underwriting. Based upon what I have read here..back in 2009-2010 that would have been a miracle! Keep up with the progress..that will save you...the programs are changing SO fast, even within the short time that I have been going thru this process.
    Those of you that have withstood all the BS that ALL of the banks were putting homeowners thru are SURVIVORS!! Never forget that..it will be easier for you now..Try again..save that house that you obviously love...you have alot of allies here.
  7. tiredofbofabs

    tiredofbofabs LoanSafe Member

    I agree with you 100%, B of A was a disaster beyond the scope of anyone's imagination. It is still a massive black hole but much better then it was, 2009. Besides the utter mess it was, the worse part was the customer service people. It was bad enough they were incompetent, but they were rude. Hurting the feelings of homeowners in pain is not motivation for compliance. One time I didn't make a payment because they refused to give me my 1099 for the previous year until I made the march payments. They can't do that!. The forms should have gone out in January and a customer service rep cannot make rules like that. It was crazy. This person was so rude and mean, I ended up hanging up on her and it took me a few weeks to get the strenth to call back. never got te same person twice.
    They are so much better now. I hope you benefit from all the grief they gave us and the bank is trying to pull it together and putting my feeling aside, they have done a good job with what they had.

    Thank you so much for responding to my post. I immediately feel a kinship with people on this site. It's weird but truthful no one understands what we have gone through but they ones who have been there. I can’t talk to friends or family about this anymore, it's too much and as sympathetic as they may be, I'm going on three years now. I shut up long ago. It’s probably one of the reason I'm so happy to have found this site. It looks like everyone tries to unite and help each other and it's exactly what we need.

    Good luck and remember, document every call, and sorry to say this but don't trust them. The person you are talking to may be sincere but something can happen that she/he have no control over. Cover yourself and get everything in writing. If they won't do that, there is probably a problem

    Use the resources here; keep the C.E.O's information close, just in case something goes wrong. Your mail or email does go directly to his office and they will try to help you. They are very aware of his image and all the websites like this one and more dedicated to just him.

    Thank you again
  8. tiredofbofabs

    tiredofbofabs LoanSafe Member

    By the way, your post was the first time I heard about the Investor not giving extensions answeres until 24 hour before the sale. You must be a stronger person them I am, I won't be able to do that and will have to file bk before them. I can't believe they do that, it's just cruel, again arent there any laws to protect us from things like this. We are in America , right? This is just awful. god bless you for getting through it.
    I don't trust anyone connected with Bank of America. With my luck, my sale date will be the only one they deny and it will be sold out from under us. . . They know they will be paid off in full even at auction/
    have nerves of steel and answer about the extension of the sale date until 24 hours be
  9. MIDSOUTH

    MIDSOUTH LoanSafe Member

    your statements regarding how you were treated is (IMHO) based upon the CSRs' being totally being overwhelmed and completely inexperienced (oh yes.. another saving for BOA-hire inexperienced people) I certainly do not believe that my experience so far has been b/c I am "special". I believe it is b/c of the hundreds of thousands HOs' whose devastated past homes I am literally walking over to get what I am requesting. Essentially, it makes me sick..that it took our federal government (and attys' generals) 3 years to at least start to look at what this actually means to the Us economy.

    So..YOU take no shame in what you need to do to withstand this storm. Because, frankly, before any "new" program comes out...the banksters have already agreed to it...so you make sure that your get what you need!
  10. MIDSOUTH

    MIDSOUTH LoanSafe Member

    TIRED...

    Lets make a plan for you..
  11. tiredofbofabs

    tiredofbofabs LoanSafe Member

    I'm sorry, I'm venting so don't take it to heart. It's just been a tough few years and I feel like it's coming to an end and I'm still not prepared for it.

    I agree with you about the government . I've never been a political person, I vote for whoever I like and have never had a problem or question why things are done certain ways. This crisis was handled so poorly by the government, I was shocked, the more I found out the more disenchanted I became. The banks are right, the government being involved and putting everyone through hoops and spending our tax money to change policies that were in effect is ridiculious.. It doens't help the consumer or anyone.
    It was the biggest crisis in the U.S. in most of our lifetimes. and it was handled so poorly. Everyone was much more concerned about pointing the figure at someone else and not resolving anything. I find myself doing the same thing. It's not all b of a fault. I chose to stop making my mortgage payment. I knew what that meant. I may have thought I didn't have a choice but I could have sold the house the minute I got the notice. I always thought that I would handle something like this differently. I've heard all the stories and thought, they should have done this or they should have done that. I was so wrong and if anything I've learned humility. and tolerance.
    Stay true to your beliefs. It will work out.
  12. tiredofbofabs

    tiredofbofabs LoanSafe Member

    A plan sounds good to me. I'm going to stay home all weekend to make sure all my paperwork is done for bk, and everything needed by Monday.

    Thank you for your help.
  13. MIDSOUTH

    MIDSOUTH LoanSafe Member

    what i would suggest is that the paperwork that you are getting together this weekend be for the purpose (possible BK but also a complete package to BOA) of sending the necessary paperwork to BOA. What no one knows right now is what all of the "bad acting" is going to have as a result in a couple of years. Preserve for yourself a potential lawsuit in the future. What I don't want is for you to give up on BOA at this point. What I would like for you to do is to create a packet-- see my thread for what I just sent to BOA in January 2012 http://www.loansafe.org/forum/count...trywide-screw-just-keeps-getting-tighter.html

    I am currently with the underwriter. they may not approve me...but i am a plan for that as well. BK should be the very last result..BTW..what state are you in? Judicial or non judicial? I think that you should try to make BOa aware of the fact that if they "actually" foreclose they will be in violation of the HAMP directive. And when you send them that notice, you ALSO advise and show proof ( via cc in email or on fax coversheet) that you have done exactly that.
    Last edited: Feb 24, 2012
  14. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    First off a Bankruptcy will stop the sale. After filing a bankruptcy your loan mod and your account just sits there for a couple of months until a Relief from Automatic Stay is filed in the court. If there is any misconduct by the bank in your case and you can prove insufficient paperwork to show standing, you can challenge it within the court. If you are going to do a chapter 7 I would not reaffirm the house and let the bank contact you for a work out after the stay is lifted. After the automatic stay is lifted the Judge will give the OK for the bank to negotiate with you on a loan modification or forberance. This however does not guarantee you a modification. Understand bankruptcy is the last card played in this foreclosure game if it is available to you.
  15. tiredofbofabs

    tiredofbofabs LoanSafe Member

    So, if I file for chapter 7, the bank will still try to negotiate with me? I would rather hold off on the BK for now if I can get an extension of the sale date any other way. I do have my complete (confirmed) mod package at B of A as of last week and it is supposed to be in underwriting. the request for an extension due to the loan mod status was sent to the investor and I'm waiting for an answer. I don't have confidence it will be approved and if itis, it will be too late to stop the
    I want to challenge the paperwork and the trustees legal right to foreclose, and am 99.9% sure there are inaccuracies in the paperwork, but againI'm just learning this and am afraid I'm too late
    . I think those are the only three options to extend the sales date, Are there other options I'm not aware of? I don't want to file bk right now. It will seriously effect my ability to get a job. Public records are just so easy to access and well, public.


    Thank you so much for your post. I appreciate all the help and am trying to absorb everything. I think I've learned more in the last 24 hours then in the last year.
  16. tiredofbofabs

    tiredofbofabs LoanSafe Member

    I' do have my complete loan modification package at B of A, confirmed by a processor and foreclosure rep and they said it was elevated to underwriting. I'm not sure if that puts me in official modification status, or if that allows me the right to an extension, but I ll find out soon when the investors responds to the request. Fingers crossed!.
    I'm in California which is a non judicial state. . Is Texas a Judicial state? Is that better or worse for homeowners.?
  17. tiredofbofabs

    tiredofbofabs LoanSafe Member

    Well B of A turned down my loan mod request. It must be the fastest decision the bank has made it only took two weeks. All I needed was to postpone my sales date.

    They gave me the same reason they did a year ago. Thr investor would have to change the loan terms to make it affordable for us at 31% of our income. They aren’t very creative.

    The letter states they will look into other programs and contact me in 10 days. How timely right around the next sale date of April 2[SUP]nd. [/SUP]
    You know if I thought they really considered the request it would be different but I know they didn’t. It was recycled from the only other time they looked at the file over one year ago
  18. Smiles

    Smiles LoanSafe Member

    Bank Of America going the extra Mile!! I just received a CALL my SALE date of 03/21/2012 has been postponed for 30-days while my file is being reviewed for a Modification. DON'T GIVE UP! WORK with them it takes alot of effort and lot's of paperwork but it's worth the effort.
    I BELIEVE BANK OF AMERICA IS STEPPING UP!! I will keep you posted as to receipt of Mod. Right now all I can say is keep calling find the right person, send and resend your documents I was denied in December 2011.
    I fought on my own to prove my case this is my second postponement Bank of America is keeping there word so far, they want to help homeowners I believe I'm one of them. ;) A few days ago I called (704) 386-5687 the office of the president the person I spoke to was the one who CALLED ME this morning regarding my postponement. DON'T GIVE UP ON BANK OF AMERICA yet!
  19. MIDSOUTH

    MIDSOUTH LoanSafe Member

    tiredofbofabs

    Did BOA tell you in writing the name of your investor? There are some other things they are supposed to tell you when they allege that the "investor" would not approve a loan mod. Look at the HAMP book (see link below) If you know the name of your investor, fax and send certified to them a letter outlining what BOA told wrote. Also include a copy of the correspondence that BOA sent you naming the investor as the problem. Then call the investor and talk to them. I have read on these forums that homeowners have gotten interesting results when they have contacted the investor. Some investors have said that no one from the bank contacted them. Also, if you can find out the name of your investor, you may be able to find out whether you loan was securitized or not. If it was there was a "pooling and servicing agreement" made between the bank and the investor of various rights and duties between the two parties. One of the rights and duties discussed in the PSA is whether the bank has the "right" to modify the loans. I would bet that if you could find that and point it out to BOA, their tune would change. But, these are things that you can do to (1) give yourself more time and (2) keep moving toward a loan mod.

    https://www.hmpadmin.com/portal/programs/docs/hamp_servicer/mhahandbook_34.pdf
  20. Jeffrey L. Shurtliff

    Jeffrey L. Shurtliff LoanSafe Member

    First off; I understand your pain with this. Second; the Bank does not have to modify. HAMP has guidelines but not laws to dictate it. Just because HAMP guidelines show rules; there is no law to force modification and this has been the problem with this program; it is toothless.

    Third; securitazation and pooling of your loan is moot here. It would not be heard in a non judicial state. Even if you bring such a cause and have some support that cause will be dismissed I guarantee you of that, because there is no tort law to show irreparable damage.

    All you can do here is continue to submit your request to be modified. You could contact Rest Report as they are the only ones that I personally know are effective in getting people modified.
    If the home is going to be sold in a trustee sale then to stop such sale, you must challenge the Trustee directly, using the provisions he is entrusted with.

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