Bank of America: Stop Vicky Aase's foreclosure
  • Petitioned Brian Moynihan

This petition was delivered to:

President and CEO, Bank of America
Brian Moynihan

Bank of America: Stop Vicky Aase's foreclosure

    1. Vicky Aase
    2. Petition by

      Vicky Aase

      Mission Viejo, CA

Vicky Aase is a grandmother and small business-owner in Southern California. When the economic downturn hit, she was forced to choose between drawing a salary or laying off her employees. She chose not to draw a salary -- and hasn't since 2008.

More than 2 years ago, Vicky sought a loan modification from Bank of America, who owns her mortgage. She spent weeks being shuffled from representative to representative, submitting the same paperwork over and over again. The bank finally said that she qualified for a loan modification, and asked her to begin making reduced payments for an 11-month trial period, promising that after proving she could make the payments, they would become permanently reduced.

But after the making on-time payments for 11 months, Bank of America told Vicky that her they wouldn't authorize a modification. Worse, they tacked multiple penalties and fees onto her principle balance -- increasing her mortgage by $26,000 and bringing her monthly payments higher than they were when she first sought the modification.

Vicky followed the rules, did everything she was asked -- and now she's getting punished for it. The bank has initiated foreclosure proceedings on her home, and a foreclosure auction could begin in as little as 90 days.

Vicky is far from the only homeowner who faces these challenges. Every day, big banks give thousands of homeowners the runaround, refusing to grant them a single point of contact and sowing confusion. They don't need special favors -- they just need a fair break.

Bank of America just posted record profits while refusing to treat homeowners like Vicky with the fairness these folks deserve. Let them know you won't stand for that.

Send a letter to Bank of America demanding that they stop the foreclosure on Vicky Aase's home and work with her to modify her mortgage payments.

Recent signatures

    News

    1. Reached 1,000 signatures
    2. Why Making Trial Mortgage Modifications Permanent is So Difficult

      Vicky Aase
      Petition Organizer

      I just spent 3 hours with a Bank of America loan modification specialist and I was armed to the teeth. The scenarios described in this article are reminiscent of what happened to me. You have to default, make trial payments for 11 months and longer, but the end result is your loan is not made permanent and you still go into foreclosure. Sal explained that defaulting on your mortgage in an attempt to get a modification used to be the case but is no longer. Also, the trial payments were out of control and should only have been for a period of 3 months. He's heard numerous stories just like mine.

      He was very knowledgeable and his goal is to help. He's the first person at Bank of America that appears to have a clue. They offer numerous modification programs based on government guidelines but, in the end, the parties holding the notes have to approve of any modification and they don't always. There are no guarantees!

    3. Reached 100 signatures
    4. Woman taps "Occup' protest to avoid foreclosure

      Vicky Aase
      Petition Organizer

      Another bank who bogged down the homeowner in paperwork only to refuse her request without any logical reason!

    5. Reached 25 signatures

    Supporters

    Reasons for signing

    • monica mitchell CHICAGO, IL
      • over 2 years ago

      I don't really think that it is important as to WHY she got into this situation (ie, did not take a salary et. al), the fact of the matter is that BofA agreed to the modification and then did not honor that agreement. SHAME

      REPORT THIS COMMENT:
    • Chad Norris FAIR GROVE, MO
      • over 2 years ago

      I am siging this because we are going through the very same thing.

      REPORT THIS COMMENT:
    • Pamela McCoy IREDELL, TX
      • over 2 years ago

      Bryan Moyhihan, You are a greedy bastard.

      REPORT THIS COMMENT:
    • Jill Powell MT. PLEASANT, SC
      • over 2 years ago

      I'm in the same situation with BOA.....something has to be done!

      REPORT THIS COMMENT:
    • Samantha Trosky BERWYN, IL
      • over 2 years ago

      Why are banks allowed to lie and make false promises and then try to steal people's homes!!???

      REPORT THIS COMMENT:

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