Bank of America: Fix Our Loan & Stop Foreclosure Proceedings On A Disabled Veteran's Home
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Due to the repeated mishandling of our mortgage by Bank of America, we are currently in danger of losing our home to foreclosure.
For many years my husband was a Lieutenant with the United States Public Health Services Commissioned Corps (a branch of the US Uniformed Services, like the Army, but comprised mainly of doctors, nurses, and other health care workers). In 2007, he unexpectedly suffered a service related injury, became 100% disabled and was given early retirement. Luckily, we had a little in savings at the time which allowed us to hold on for a while and continue to make our mortgage payments.
In 2009, however, we began to struggle financially. We had gone through all of our savings and were still waiting for my husband's disability payments to completely kick in. After getting 2 months behind on our mortgage payments, we contacted Bank of America and began the process of trying to modify our loan. This process continued for the next 8 months. When we called, each month, to check on the progress of things, we were either told that our paperwork had been lost and to resend it, or we were simply told to call back in 30 days. When we asked if were possible to send in as much money as we were able to, for our mortgage payments, we were told that they would not accept payments while the loan modification was 'in process'.
Finally, in 2010, they agreed to modify our mortgage and stop the foreclosure proceedings if we agreed to send them the past 10 months of mortgage payments that were now due. If there had been any way to comply with their request, we would have been happy to do so, but it was impossible. We simply didn't have $10,000 on hand to give them. So they continued to take the steps necessary to foreclose on our home and we did the only thing we could think to do to stop them.
In July 2010, I accompanied my husband, a man who had served his country faithfully and had never been late on his bills before becoming disabled, to a lawyers office to sign paperwork filing for Chapter 13 bankruptcy. I will never be able to put into words how much the memory of my husband's face, on that day, still breaks my heart.
In 2013, right before our case was set to be dismissed, we were informed by the court that our house had been released back to Bank of America for foreclosure. I called the court and was horrified to learn that Bank of America never returned the proof of claim papers that had been requested of them by the bankruptcy court when we first filed so that they could get paid. We had just spent the past 3 1/2 years and paid in over $70,000 to the bankruptcy court believing that a large percentage of these funds had gone to pay our mortgage with Bank of America and we were devastated to discover that this wasn't, in fact, what had actually happened.
Over those three years we had heard very little from Bank of America, other than a letter letting us know that the note to our house that they were supposed to keep safe had been 'accidentally lost or destroyed'.
Our case was dismissed upon completion earlier this year. I have searched for a lawyer to look into this for me, but have been unsuccessful. I have contacted banks to try and find one willing to refinance our house, but because of the bankruptcy, no bank will touch us. We received a letter from Bank of America last month threatening foreclosure if we don't pay them the four years of mortgage payments we now owe, in one lump sum. The fact that we HAVE been trying to pay them for years and that they have repeatedly found ways to not take our money is apparently irrelevant to them.
We are not asking that Bank of America forgive or reduce the amount of our loan. We are not asking to be held less responsible for our loan, in any way, than we originally agreed. All we are asking is that Bank of America modify or refinance our home so that we can pay back the money that we owe them. We are asking that they remove any fraudulent late fees, inspection fees and foreclosure fees, as well as any charges for their own personal home owners insurance through Balboa Insurance that they added to our loan without our consent. We are asking that they put the time and energy into servicing our loan now that should have been given to us much, much sooner.
There are thousands of stories out there about people, just like us, who have already faced or who are still facing the threat of foreclosure from the Mortgage Meltdown. Each one of these stories matter, and will continue to matter as long as so many of us are still facing the events that created these stories in the first place. Despite the efforts of state and federal governments, new laws and accountability hearings and national settlements, some of the big banks are still plundering through the ashes of their customer's financial ruin, looking for gold. Despite every attempt made to hold them accountable and every court ruling demanding that they make amends, many of these banks just won't quit. They pay their fines, while finding new and improved ways to continue taking our homes.
The fortunes of these banks were made, in part, by agreeing to service one individual loan at a time. We are simply asking that they honor their original promises by responsibly and ethically servicing our loan. By renewing their commitment to their customers, we believe it is possible for them to redeem themselves in the eyes of the American people and to be worthy, once again, of the trust we placed in them when we first chose them to be our mortgage lenders.
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