BofA has huge, huge problems in my opinion. I have a personal friend that sought a loan mod from them - here is what happened to her:
1. the mod was worked on for over a year
2. near the end she received "confirmation" that the mod was almost done
3. a couple of days after the verbal confirmation was given to her a listing agent showed up at her door to tell her that her home would foreclose at the next sheriff's sale.
4. Many calls were made to many people at BofA over the next few days to try to shake out the truth.
5. Nothing was able to stop the ensuing foreclosure, and the kind listing agent gave her a couple of weeks to get out of the home.
6. I helped her find a rental quickly and she left the property.
7. The home foreclosed on a Tuesday.
8. The Sunday after the foreclosure she received another call from BofA saying "Congratulations, your modification has been finally and completely approved. You won't have to move out of your home!" She told the caller that the home had been foreclosed on the previous Tuesday - the BofA caller had no blimey idea.
9. More work was done to find out whether or not the foreclosure could be reversed. It cannot be reversed - due to other ridiculous property laws. She lost her home, but we did determine that had it not foreclosed, she would have been staying in it with a modified loan. Unbelievable. I was/am shocked, flabbergasted and disgusted.
Tell me that isn't totally screwed up, for lack of better, more professional terminology. Perhaps I should really be using other course and vulgar terminology - those words would be the true description of these situations. As Lynn says - probably thousands that need justice with BofA, short sellers and folks that have been foreclosed on, modification or not. Then there are the stories of the BofA customers that BofA has tried to foreclose on EVEN THOUGH THEY HAD PAID THEIR LIENS OFF FREE AND CLEAR. Are you kidding me? How does something like that happen? It isn't like foreclosure is a short and sweet process - how do things get that far down a broken system to the point of a foreclosure notice going out to someone that owns their property free and clear? It completely boggles the mind.
The new Obama HAMP deal on the table isn't going to help anything. The system is broken and now he's trying to open it up to other people, like investors with rental properties. "Oh yeah - this has worked SO well, let's get some other people trapped in this mess". Ridiculous. Sorry for my rant, but it's true, it's all true.
SO SO SORRY.
Talk with your Realtor.
yahoo.com. In Federal court I file a Pro Se lawsuit against Bank of America. I am suing them for MORTGAGE SERVICING FRAUD. Tomorrow morning I will be filing another brief in my case. I am looking for people who have had or are having problems with BOA and their mortgage division. Please contact me.
If you google Bank of America lawsuits, you will see tons of them. If you file a complaint with the Attorney General in your state they will forward it to B of A and B of A will have 30 days to answer the complaint. My other advice is to call the CEO of Bof A and state your requests.
B of A has worked with me to settle my complaint. We only asked for the right things and got them. Good luck. If all else fails, get a good real estate attorney.
get the chance to finalize my modification. She decided that I didn't deserve to keep my home. BofA
has no clue what they are doing. She actually called my cell looking for another homeowner. Unbelieveable!!! Has any one considered a class action lawsuit for people who have lost their homes or about too because of bad banking practices and possible fraudulent acts against their customers
Attorney Generals Office, and Consumer Financial Protection Bureau 1-8554112372 everybody needs to bug the crap out off this people and make them do their jobs if anyone needs more info my e-mail is firstname.lastname@example.org .
Lets take down this bank and and show them we wont quit.
GOOD LUCK TO EVERYONE
I could feel my blood boiling while reading Kim's response and story about her friend. This is completely outrageous! If we let them get away with it, it will continue - you can count on it.
I know it is frustrating, but I think no where in any contract you have with them are the obligated to do a short sale.
However they do have a document called a deed of trust that the owner signed that shows what will happen if they don't make the payments as agreed.
I think that would be an uphill battle....and one that might get you further behind.
If the seller has money to spend on a lawsuit, at this point it is probably better putting it towards restoring credit and building an equity fund so that when they are ready to buy again in the future, there are nice cash reserves there to do it.