Confirmed victory

Bank of America, I have fulfilled my end of the bargain, now you need to fulfill yours. Grant me a loan modification and restore my credit.

This petition made change with 101 supporters!

My name is Katharine Ridley and, like many of you, I live in an underwater home due to the market manipulations on the part of  big banks like Bank of America. For 5 frustrating years I have been stuck in limbo trying to get a loan modification with B of A, not knowing whether my house is mine, and unable to go elsewhere due to ruined credit. I have put up with a revolving door of customer service representatives, misleading and contradictory statements, and plain bad faith.  This is the third time that I have signed documentation that states that I WILL get a loan modification at the end of my trial payment period, and the third time I have made payments far beyond the end of the trial period.  This is the third time I have been told first that my papers would be there within 30 days, then 60 and then 90 days and beyond - but they never came.  In my latest round, B of A offered me a contract for a loan modification that states: “If you successfully complete the Trial Period Plan by making the required payments you will receive a modification with an interest rate of 4.000%, which will be fixed for 40 years from the date the modification is effective.” I made all the payments on time, and I have the bank records to prove it.  Now B of A has denied me again, saying I missed payments.

As many of you know, B of A is in the news on a regular basis due, in no small measure, to the kind of behavior I have experienced.  After being bailed out by tax payer dollars, B of A has been negligent, negotiated with its clients in bad faith, and has violated consumer rights.  A complaint filed in U.S. District Court in Colorado on July 10 2013, alleges that B of A masterminded a scheme which allowed it to deny help it had promised customers in exchange for $45 billion it took in bailout funds.  An additional lawsuit alleges that B of A employed contractors, including co-defendant Urban Lending Solutions, who repeatedly lied to B of A’s customers. Former employees, according to the complaint, have confirmed that B of A instructed them to delay modifications, claim it had not received paperwork and payments when it had received them, and declined modifications en masse in periods known internally as “blitzes.” 

I did not want to go public with my story, but the latest actions on the part of B of A impel me to do so.  Please sign my petition, not just for me but for the tens of thousands of home owners who are in a similar position. Help me send a very clear message that this kind of behavior on the part of  B of A is unacceptable.

In the latest denial my customer relations manager (CRM) called on March 4th to tell me my loan modification was denied (after making on-time payments for 8 months) because I missed my November payment which is patently not true- I made my payment on October 29th for November.  I called on November 27th to check on the status of my loan mod before making my December payment which would make 5 (two more than required in the loan mod).  The person who helped me on behalf of my CRM could not give me any information.  Recognizing December 1st was fast approaching, and learning that I could not talk with my CRM before that, I asked about payment timing and was told that after the first three trial payments,  I could pay any time during the month. So, I made my December payment on December 3rd.  In fact I was told twice that my payments could be made any time during the month (after the trial period) rather than preceding the month in which they were due.  Now I am being told by one person that I did not make my November payment, and by another that I did not make my December payment.  

After complaining to a supervisor two levels above my CRM,  I was told on March 5th that B of A had made a mistake and that he would get things back on track ASAP.  He called on March 7th to say that the loan modification was back on track and that they will rush the documents to me after they determined the best way to push forward.  He said he would call Monday, March 10th with an update.  He did not call and has not responded to the numerous voice messages I left over the following week.  Frustrated with the lack of communication -which has been an ongoing problem- I managed to find the telephone number for the CEO on a consumer website.  I called the office of the president on March 17th, and after refusing to be transferred to my CRM (because of the misleading and incorrect information from her) I was finally told that my loan modification had been denied effective March 5th (at the same time that I was being told that B of A was in error!) but I was welcome to go through the process again if I so chose. In addition I was told it was my December payment that was late, not my November payment as stated by my CRM.

Credit damage has impacted my ex-husband, whose name is on the loan, me and our children. We were unable to be guarantors on an apartment lease for our son so that he might attend university in Los Angeles and had to have a friend step in and help. 

Those of you in my position, who have spent countless hours trying to get information about what your future holds know how hard it is to live with so much uncertainty, and likely share many of the concerns I face on a daily basis. Please sign my petition, not just for me but for the tens of thousands of home owners who are in a similar position. I do not want a free ride, I want B of A to grant me a loan modification, and restore my ex-husband's and my credit ASAP.  Help me send a very clear message that this kind of behavior on the part of  B of A is unacceptable.

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