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  1. #1

    Bank Of America Foreclosure Month Month 53 Not Payment

    Ok guys I am new here and need help. This all started when I lost my job of 15 years back in 2010 making over $150k a year. Mortgage in my name only not husband's. Asked for reduction of payement, told I needed to be 90 days late for help blah blah blah. Anyway no help, they filed for foreclosure 12/10. I responded with interrogatories and they sent my note, (only my signature) assignment of mortgage, and mortgage copy. This is a countrywide loan fixed 6.5 percent 30 years. Now after responding to my interragatories they did nothing for about 16 months. Then sent the notice we could apply for modifcation. Tried 4 times, of course they lost this and that when we have proof of the faxes. Now Ceo office been involved since March. Now we started new loan mod july sent all docs and then they wanted hubbys info since he makes majority of money now, and it was all due on 8/23. Got in all in by 8/18. Meanwhile I check county records and 8/13 Korn Law Firm filed for Record Of Hearing. We are in SC Judicial State. How can they do that when they have not even reviewed our dang docs for modification? I emailed CEO again, nothing. All AJA Risher nothing. Email Julie Levick, nothing and then just a few minutes ago another lady from CEO office called and left message, I called right back and got voice mail. Meanwhile filed complaint with CFPB and BBB. What else do I need to do? I want my foreclosure halted and reviewed for modification! How dang hard is that? Also why is MERS a defendant in my case? The assignment of mortgage was signed 12/21/2014 by Countrywide attorney and filed foreclosure 12/28. Can someone clue me in an what we need to do now?

  2. #2
    Hello and welcome to the LoanSafe forum. We appreciate you telling your story.

    This is called dual tracking and one of the very reasons why banks like Bank of America who owns Countrywide were sued by the government for billions of dollars. There are now 'new rules they are supposed to follow, but there appears to be no teeth or penalties if they do not follow these same said rules below.

    Hence, all you can do is exactly what you have been doing all along and do not give up the fight, Keep sending the emails and making noise. There are no magic formulas or methods to get a loan modification approved. You just have to make your case. But please keep in mind that there are now laws saying they have to give your loan modification and once you have defaulted on a mortgage, all laws are heavily on the lenders side.

    I'm not sure why MERS would be named as a defendant. Maybe they had originally assigned it to them and now they are taking back these rights?

    Maybe you can emphasize to them the information below and tell them they are violating these rules. Make a complains with the Consumer Protection Financial Bureau.

  3. #3
    The CFPB’s mortgage servicing rules ensure that borrowers in trouble get a fair process to avoid foreclosure. Borrowers shouldn’t have to worry about mortgage servicers cutting corners or losing applications for relief. They should be told about their options and given time to apply and be considered for loan modifications and other alternatives. Most of all, they shouldn’t be surprised by the start of a foreclosure proceeding until they have had time to explore all available options. If they act diligently to seek alternatives, they should not face a foreclosure sale before their applications have been evaluated.

    The new protections for struggling borrowers include:

    Restricted Dual-Tracking:

    Under the CFPB’s new rules, dual-tracking – when the servicer moves forward with foreclosure while simultaneously working with the borrower to avoid foreclosure – is restricted. Servicers cannot start a foreclosure proceeding if a borrower has already submitted a complete application for a loan modification or other alternative to foreclosure, and that application is still pending review. To give borrowers reasonable time to submit such applications, servicers cannot make the first notice or filing required for the foreclosure process until a mortgage loan account is more than 120 days delinquent.

  4. #4
    Servicers must let borrowers know about their “loss mitigation options” to retain their home after borrowers have missed two consecutive payments. They must provide them a written notice that includes examples of options that might be available to them as alternatives to foreclosure and instructions for how to obtain more information.
    Direct and Ongoing Access to Servicing Personnel: Servicers must have policies and procedures in place to provide delinquent borrowers with direct, easy, ongoing access to employees responsible for helping them. These personnel are responsible for alerting borrowers to any missing information on their applications, telling borrowers about the status of any loss mitigation application, and making sure documents get to the right servicing personnel for processing.

  5. #5
    Thank you for your reply. I did just that. I made a complaint to CFPB. I called the lady at CEO office that left a voicemail that I can't even understand and left 3 messages. Also I guess she is now my new account manager. Wonder why the change and why does the attorney not communicate with their lender? It is so frustrating! I will file BK 13 and drop it later when it gets to that point. I need to ride this out until March when our financial situation improves and will do whatever I have to until then to do just that. Any other ideas let me know. Thanks!!

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