1. 2 years+ and no loan modification settlement yet

    I called Bank of American in May 2011 to discuss ways to avoid foreclosure.  Although I wasn’t late on my mortgage yet, I could see the writing on the wall.  I am in the real estate business and my husband is in the car business — both were suffering mightily at the time.  I was told I didn’t qualify for home loan assistance because I had refinanced (to lower my payments) in 2009, after the cut off.  I was also told they would not entertain any discussion of a modification until I had been in default for two months.  I went to the help center in Alexandria, VA and the rep there helped me fill out my application.  Some time later it was denied.  I was told to make some improvements and resubmit.   I was told on several occasions in the interim and thereafter that I should not pay my mortgage or I would have to restart the whole process.  I was approved and then the approval was rescinded.  I then asked my Congressman to intervene.  

    My application was resubmitted and was approved again only to be rescinded once more.  Finally, in March 2012 I signed the final loan modification documents (I was told BOA was doing me a favor when I was surprised that my monthly payment decreased less than $100).  My loan would become current on July 2012 after I paid my three trial payments on time.  I ended up with $22,000 in past due balances on my mortgage and a $6000 tax bill because I had only 3 months of mortgage interest to deduct.  So for a benefit of $1,200 ($100 less per month), I incurred a $6,000 tax bill.  My loan modification cost me dearly.

    Fast forward to February 2013.  I still hadn’t received my final settlement docs.  It turns out that my paperwork was lost because someone had quit.  I had to wait for the documents to be resubmitted AGAIN.  In March 2013, I signed the paperwork but now my credit would only show me current on my mortgage as of October 2012 (instead of the original July 2012) AND I would not receive the mortgage deduction for the interest I paid in all of 2012. Therefore, I could not itemize on my 2012 tax return.  I was told that I would receive the mortgage deduction for 2012 added to the amounts I paid in 2013 but I have no assurances of that in writing.

    I was supposed to receive my final loan docs by June 2013 at the latest.  Today is July 19th and I was just told it would be another 30 days.  That means that this entire process will have spanned 26 months.  No one at BOA can help me, my Congressman’s office is unable to make anything happen and I have the worst credit in the world even though I’ve made my mortgage payments on time for the last 15 months.  The $22,000 past due balance still shows on my monthly statement from BOA.  

    I have 24 pages of notes summarized every phone call I’ve had with five or six customer relationship managers (they keep reassigning me), my Congressman’s office, and Freddie Mac.  I believe there is something “goofy” with my loan that is causing all of these delays.  Perhaps BOA or Freddie Mac cannot find the original loan documents.  I am beside myself with stress over this.


  2. Bank of America Stealing the American Dream

    I had been making my monthly payments when my contractor got behind by 6 weeks paying me for my work. I was late (2) times, but would catch up as soon as I got paid. Then Bank of America sent me a Home Modification Agreement on October 23, 2010.  The due date to have the document back at Bank of America the same date. I sent it back anyway and a few days later received a denial notice.  Then my payments began to skyrocket from $749.00 per month to $2800 per month.  Complaints to the OCC only got me fraudulent letters from BofA stating my payments were not being applied to my account because I was “participating” in a Home Modification Progam.  Of course I could not make the increased payments on my 30 year, fixed loan.  Bank of America fied for foreclosure on June 7, 2011 without any service of process as required by Ilinois law.  Then I discovered the lawyer I had hired was working for BofA.  I am currently fighting BofA pro se.


  3. My story: Why I Went to DC

    During the May 20th Justice to Justice week of action, I went to Washington DC alongside homeowners fighting foreclosure because I believe housing is a human right that should not be bought and sold for profit. When I was in high school (around 2008) my parents’ home was taken by Wells Fargo, and at that point, fighting back or even negotiating didn’t seem like an option. Through my work with Occupy Homes MN and the incredible week of action in DC, it’s clear to me that homeowners and neighbors standing together can fight the fraud, greed, and corruption of the big banks, and they can win! Solidarity!


  4. Blue Star Mom - Pissed

    I have a story unlike any you have ever seen. We had our home for 23 years at the time and had a perfect payment history and ended up losing our house illegally without being in arrears and without any knowledge. No NOD, no Notice of Sale, nor was it published in the newspaper. We had no knowledge until 44 days later when we got a 72 hour Notice to Quit. There was no auctioneer, no Memorandum etc the home was sold with an Invalid Credit Bid. To make matters worse we filed a lawsuit and paid almost $35,000 in legal fees and had a preponderance of evidence and the Judge ignored the proof and Facts of Law and made an unethical Judgment. Our son is a Combat Veteran that fought for our Country and returned from his 2nd deployment to find out the only home he ever knew was gone and we were homeless. I don’t understand how people haven’t made a mortgage payment in years and are living for free and we never missed a payment and illegally lost our home? Why aren’t these Judges being fined or Jailed? They are just as guilty as the Predatory Lenders.


  5. BOA withholds lien transfer from homeowner

    I have been attempting to refinance my home on my VA benefits for over three years to no avail. I have been making payments on my home to BOA and their associates for nearly seven years. I was contacted after AmeriQuest went under. They never provided me with any documents stating they were the lien holders on a payment coupon. In a Oklahoma court order Chase had been declared the rightful lien holder and had foreclosed on my home while I was paying BOA. i did receive a document transferring from Wilshire to BOA, however nothing can be provided on how the acquired the transfer to Wilshire. Nearly two years ago I applied for the EHLP program through HUD. HUD paid over thirty thousand dollars on this home yet BOA never deducted a dime. I was reviewing my taxes and learned that another banks routing number came up as the lien holders. BOA senior VP, Steve Hurdle tried to intimidate me over  the phone after he reviewed the legal court order. Next they sent a letter denying my loan due to the fact they could not product validity of a lien or transfer. Next they said my credit references were not verifiable. Impossible because they ran three credit inquiries over a 6 month period through their company LandSafe in an attempt to reduce my credit score. . Waiting on response from CFPA due today


  6. The Covington 7 were arrested blocking the revolving door at Covington and Burling, the Wall Street law firm where US Attorney General Eric Holder used to be a partner. Now, instead of prosecuting bankers, the DoJ is pressing charges against the Covington 7 for their act of protest.

    Support the Covington 7 by signing this petition or supporting the Covington 7 legal fund.


  7. Foreclosure of My Home

    Ann F. tells her story.

    My story is not unlike several people pre-dating the economic disaster that fell at the feet of Wall Street moguls.  I wanted to get a new mortgage to pay off some credit card bills so, I went to Arbor Mortgage in Grand Blanc, MI.  They said that they could help me.  Seeing that they were licensed by the state, I felt comfortable that they knew what they were doing and if they could help me, that was just great.

    They set me up with a balloon mortgage but told me not to worry because they would put me into a fixed mortgage prior to the balloon going up.  My father and I sat at a table with the Arbor Mortgage representative and a mortgage dealer or whatever.she was.  In effect, the mortgage was to be written up between me, my father and this other mortgage agent.  The stack of papers was at least a foot tall.

    Long story short, I called them many, many times before the balloning interest rate went into effect and they never returned my calls!
     A year or so later when I was a year behind on my property taxes, I heard that I could go to Senator Carl Levin’s office and they would try to negotiate a new interest rate.  Ms. Jackson, Senator Levin’s assistant was very cordial and worked with them while I was a mess emotionally.  They did finally change the interest rate into something that I and my elderly parents who lived with me, could afford.

    Unfortunately, the right hand at Chase Home Mortgage never listened to the left hand at Chase Home Mortgage and they rolled 2 years of taxes into my monthly payment so I was paying even more than when the balloon went up!  My elderly parents, seeing the writing on the wall moved to a little duplex and I had to move also, the farm going into foreclosure.

    Before I moved, the attorney general of Michigan litigated with the first mortgage company (a subsidiary of Countrywide whose name I can’t recall, it starts with an ‘A’), the result was a $25 check for me and my father to share.  Chase Home Finance was the third mortgage company that my farm went through.  Just a couple of weeks ago, I got $300 for Chase Home Mortage’s part in the thievery that affected my parents and I and probably a million more home owners.  That money didn’t even pay for my move and they got my horse farm, my home!

    More and more as I listen about the politics of today, I get an awful taste in my mouth and throw my hands up into the air.  There is nothing that ‘we, the people’ can do.  Our elected officials turn a blind eye to the thievery that went on and in fact, did not only turn a blind eye but gave them more of the citizens of the United State’s money to help them continue to garner their high wages and scoff at the little guy that they kicked from here to kingdom come.  I voted for President Obama twice and trusted that he would do something for ‘we, the people,’ but he’s only slapped them on the wrists with more leniency.


    Ann M. Flaherty, looking for someone who cares


  8. From Tim Franzen of Occupy Our Homes Atlanta.

    I bought a home in 2001. It was one of the proudest moments of my life. I was raised to believe that a home was one of the greatest investments I could make in my future. Twelve years later my home is 30k underwater and I’ve been forced to rent it out because I can’t afford to live there, instead I rent. 

    The mortgage company I got my house from, Countrywide, knowingly sold me a bad loan filled with ballon payments and a terrible adjustable mortgage rates.

    I never thought that the home I was so proud of would be the single greatest financial burden of my life.

    Our government has propped up the banks to the tune of 16.7 trillion dollars(enough to wipe out the national debt or buy every American a home free and clear) while many of us lose our homes, watch rent rise, and sleep on the streets. We are not in a crisis of economic resources, it’s a crisis of economic priorities.

    I’m proud to stand with those fighting to stay in their home, reclaim there homes, or liberate vacant bank owned properties. 


  9. This is what happens when 500 underwater homeowners and foreclosure fighters go the Department of Justice in DC and demand accountability for the Wall Street criminals who caused the Great Recession and stole our homes.


  10. All Monday arrestees from Week of Action released from jail!