• Petitioned Bank Of America

This petition was delivered to:

Brian Moynihan, President & CEO
Bank Of America

Bank Of America: Complete the foreclosure process on my condo so I can start rebuilding my credit

    1. Petition by

      Chris McGratty

      Charlotte, NC

Several years ago when the Charlotte, NC housing/condo market was at an all time low, I was unable to rent or sell my condo for a reasonable price or any price for that matter. My wife and I had recently bought a house nearby so this was not our primary residence so I approached Bank of America about modifying the loan to be more affordable. They refused to help and told me that the only way they could offer assistance was for me to STOP making the monthly payments. As much as I didn't want to ruin a very good credit score, I had no choice as I could not afford that mortgage in addition to our primary mortgage and other bills. Thus began the process of foreclosure as a deed-in-lieu option was declined as BOA requested an additional outlay of $10,000 cash from me in order for them to accept the deal. Had I had an extra $10,000 in cash, we wouldn't have been talking in the first place. The deed-in-lieu process dragged out over several months with numerous people taking over primary contact on the loan, all requiring a rehash of the circumstances leading up to that day.

Prior to this, my credit score was top tier and I have never missed a payment on anything in my entire life. As BOA moved forward with the foreclosure process on the condo, I was originally issued an auction/hearing date at the Mecklenburg County Courthouse sometime back in September 2009. That day came and went with the only news being that BOA didn't have all the necessary documents needed so the date was pushed out to January 2010. Here we are approaching the end of 2012 and BOA has still not completed the proceedings on the foreclosure thus keeping my credit score in the lower ranks. Had they kept their word and met the dates, my credit would be on the road to recovery and not anchored to the bottom rungs thanks to what appears to be a combination of incompetence and a lack of courtesy to a long time customer who holds multiple accounts with them.

Due to my current credit rating, we were not able to qualify for the lowest APR's on a new car loan and have a rather high APR instead. I am trying to refinance this loan now but will most likely be declined due to the foreclosure showing up on my credit report even though my long term history is immaculate. We are unable to refinance our primary mortgage on our home for the same reason.

Bank of America, please do the right thing and complete the proceedings on my foreclosure so I can rebuild my credit and provide for my family. I watch as you and other banks rake in record profits in the billions. I used to work for the bank many years ago so please take care of a long time customer, an alum and a hard-working dad who is trying to support his family.

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    1. Reached 100 signatures

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    Reasons for signing

    • Larry Jackson WASHINGTON, DC
      • 10 months ago

      This is very important to me because I move out of my condo November 7, 2007 and Bank of America has not forclosed as of this date (01/04/2014) My credit score has gone from 800's to 510. I have tried everything. 12 short sale offerings the bank would would not accept one of them. No Deed in Lieu and the Bank won't even talk to me. I have been sued for $35000 in conco fees after filing bankrupcy. Nothing I can do. BOA ruined me.

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    • Melissa Peterson OREGON CITY, OR
      • over 1 year ago

      We should just let Bank of America go bankrupt, everyone withdraw your money and close your account, only then will they maybe get it.

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    • Duane S CHARLOTTE, NC
      • almost 2 years ago

      Didn't BANKS GET taxpayer money (disguised as government money) to address the foreclosure crisis already? Get a move on BOA! Quit dragging your feet.

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    • rebecca ferraioli CHARLOTTE, NC
      • almost 2 years ago

      We have left BofA because of vulturous practices. I am happy not to be with them anymore!

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    • kathleen blanchard CHARLOTTE, NC
      • almost 2 years ago

      This is important for everyone, but Bank of America isn't the only one doing this. It's any mortgage company and they do the same things. To get a loan modification this is what happens. IF you finally get it the dollar amount that the mortgage is reduced is minimal. What a waste of time. BOA is paying employees for playing a game. There is no value to this service. It's bad business.

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