Much has been broadcast in the media as to how the Bank of America, after accepting tax payer dollars, has been negligent: negotiated with its clients in bad faith; has been guilty of misrepresentation; and has violated consumer rights. Our friends and associates in the media call my parents the "poster children"; of what is wrong with today's economy and the so-called loan modification process.
My parents, a semi-retired interior designer and film and television director/producer living in Oregon, are being foreclosed on by Bank of America even though they can afford to pay their mortgage. My parents, George and Victoria Mendeluk, have always been responsible homeowners and never missed a single mortgage payment until recently advised by BofA to do so to prove hardship! When construction around the store they owned cut in to their business profits, my parents needed to modify their loan in order to keep up with their payments.
In 2010, the Home Affordable Department recommended to my parents that they not pay their loan in order to prove “hardship.” Now, they are being told that this act placed them in default. This is all so they could foreclose on my parents.They were actually told by their customer representative that they would not be placed in foreclosure if they were actively applying for a loan modification, but this was also untrue.
My parents were served a Notice of Default while in the application process and their forced sale date is scheduled for February 14, 2012! Throughout the process, the Bank has continuously switched the point of contact for my parents. At one point, they were told to contact a new woman in charge, a representative whose voicemail stated that she would “not be available until further notice.”
In November 2011, after almost two years of application processes, roundabout dialogues, lies and repeated denials they spoke with Bank of America’s case workers who had clearly not read their file. At one point during the conference, BofA’s underwriter excused herself to “go to the printer” and, unbelievably, returned half an hour later. This was while my parents’ attorney was waiting on the line at a cost to them that they can ill afford. Finally, they were informed that they were declined for a loan modification and never told why.
Most importantly, my parents can pay their mortgage! Their debts have recently been discharged. They are even cleared of their obligation to their first mortgage which they can reaffirm if granted a loan modification. On top of all of this, I run a successful business and am willing to provide my parents with a substantial portion of their mortgage payment per month so that they don’t miss any payments.
However, despite my parents frustrating and stressful experience with the bank, they still remain steadfast that change can happen. Change.org is now my last ditch effort to give my parents an honest and straightforward opportunity to save their home that they worked all their lives to own. Will you join me in asking Bank of America to stop foreclosure and save my parents’ home?
The Occupy movement has turned its attention to Bank of America - READ
Margarita Ramirez lost her home to foreclosure, she now rents the same home she once owned: READ