Hello,
I was hoping someone could help me. I’ll try and make this short and sweet. I currently own a home in Massachusetts that is under agreement to sell with a closing date of 10.16.19. I just found out that Bank of America when doing a home loan modification with them back in 2012 added a partial claim with HUD for $65k. After the loan modification was complete, BOA sold our loan to another mortgage lender and never rolled over / or discharged the 65k partial claim. We never ever were behind 65k on our mortgage. Maybe about 20k max with arrearages, fees, taxes, etc. Having this partial claim for 65k would mean we owe $311,000 for our home we paid $314,900 for back in 2015. If you do the math, we have paid over $300,000 in payments in the past 15 years and we owe $5k less than what we paid 15 years ago? Makes no sense at all. We are selling our home (supposed to close tomorrow) for $340K. After all is said and done we would only receive approx 7K in proceeds. Our proceeds should be $75k based on our $245,000 mortgage payoff. We have decided we want to go through with the sale and pay the 65k partial claim out of proceeds. We don’t want to own this home anymore. My question is, has anyone else had this issue where BOA defrauded HUD for triple the amount that was needed to modify the loan? Can we go after BOA for the 65k after we sell the home. We know that HUD is not entitled to these funds as this was fraudulently added. Can anyone help? I do have an attorney working on this relentlessly but BOA is very hard to deal with and we can’t seem to get a straight answer from anyone. Help!
I was hoping someone could help me. I’ll try and make this short and sweet. I currently own a home in Massachusetts that is under agreement to sell with a closing date of 10.16.19. I just found out that Bank of America when doing a home loan modification with them back in 2012 added a partial claim with HUD for $65k. After the loan modification was complete, BOA sold our loan to another mortgage lender and never rolled over / or discharged the 65k partial claim. We never ever were behind 65k on our mortgage. Maybe about 20k max with arrearages, fees, taxes, etc. Having this partial claim for 65k would mean we owe $311,000 for our home we paid $314,900 for back in 2015. If you do the math, we have paid over $300,000 in payments in the past 15 years and we owe $5k less than what we paid 15 years ago? Makes no sense at all. We are selling our home (supposed to close tomorrow) for $340K. After all is said and done we would only receive approx 7K in proceeds. Our proceeds should be $75k based on our $245,000 mortgage payoff. We have decided we want to go through with the sale and pay the 65k partial claim out of proceeds. We don’t want to own this home anymore. My question is, has anyone else had this issue where BOA defrauded HUD for triple the amount that was needed to modify the loan? Can we go after BOA for the 65k after we sell the home. We know that HUD is not entitled to these funds as this was fraudulently added. Can anyone help? I do have an attorney working on this relentlessly but BOA is very hard to deal with and we can’t seem to get a straight answer from anyone. Help!