Wednesday, June 6, 2012

Faerie Cottage and Bank of America

I am trying to stay in my home and am making my monthly payments but the financial burden of a loan with an exceedingly high interest rate on an over-encumbered (underwater) property, is taking a huge toll on my mental and physical health. Since I went public with this, BofA has been very polite and I have been working with a very pleasant gentleman who has been trying to help me. However, I am still in the exact same position as before, being told that there are problems because I am current with my loan and because the loan is not in my name, even though I am the sole owner and have made all the payments for five years. I hope that BofA will continue to work with me. Here is the new time line:
3/9/12 Called Office of President. 2:15 left word with A. that I would go public if I did not hear back
3/13 Call from L responding to my online complaints. Rec’d 2 calls from J.E. in modifications responding to same. Said I could apply for a modification again and would need to send in all new paperwork.
3/14 called JE and left message to see when application packet would arrive.
3/15 call from MG, J.E.’s supervisor to say I could contact her if I need help. Package arrived
3/17 Got rejection form Qualified Assumptions due to problem with credit. This does not make sense as my credit rating is high.
3/19 spoke to JE who asked if I “Minded if loan is modified but kept in Jill Block’s name?” I said okay. (In other words: we would be working for a modification rather than an assumption and keeping loan in her name ) Mailed packet
3/21 called JE re: fraud that had been committed on my Chase bank account.
3/23 Called JE. They confirmed they had rec’d my packet
4/2 8:am called JE and left word
4/3 9 am left word for JE 4:30 left word for JE
4/5 called 2:30 left word for JE
Received packet from D.H. saying I was “ineligible because had not submitted proper docs” and it was over thirty days. I had not submitted a packet to D.H. but to J.E.
3:00 called DH to confirm the mistake. Left word.
Called M.G. and told her about the confusion. She said she would leave word for J.E.
4/9 Called M.G, supervisor who told me “DH is handling your case.” I said that I had been working with J.E. She confirmed he had rec’d my packet. She left word for both DH and JE to call me.
faxed and certified mailed letter asking who my investor is
4/11 Rec’d certified mail receipt that my letter requesting to know who my investor is had been rec’d by BofA on thi sdate.
4/9 JE called back and said to disregard the letter from DH and that he had been sick. Would get back to me in a week and a half
4/18 Called JE who said “The underwriters are requesting something else from me.” I asked what. He said he didn’t know and would get back to me
Called me later that day and left message
I called him back and left message
4/19 Called JE and he told me that the underwriter does not usually work with “current” accts. Meaning that because I am paid up, they usually wouldn’t modify but he was going to “escalate it” and get back to me next week.
5/1 4:30 called , left word
5/2 9:23 called and left word
5/3 9:20 called JE and left word
called MG she said je would call me back in ten min
9:55 called je no answer left word to call me on cell as i was leaving 10 je called me back at home number
10 43 i called him back from home and asked him to call my cell
5/4 called JE and he said 9:37 to call him back next Wed. and he should have answer by end of the month thank you very much
5/10 called 9:15 spoke to je. Requested a large packet of documents be sent to him and underwriters.
5/10 4:55 robo call requesting more docs
5/11 called je 10 am called 11:30 called 1:20 called his supervisor VE but voice mail had not been set up called me and left word (incorrect phone number had been given to me)

5/14 9 am called JE got questions answered Fed Exed packet off and faxed it as well. Still haave not heard back as to who my investor is. Past thirty days. Waiting…
5/21 called told packet had been rec’d and was being looked at by underwriters. Told to call back 5/30 promised he would know from underwriters by then.
5/31 called and left word
6/1 9 am called je called mg called ve called k? left word
je called back at 3 pm while i was out
6/3 called je 7 am
6/4 got message from social media team on twitter
got message from je but
6/5 called je and called social media team. Left word.
6/6 called je
got call from social media team to set up phone meeting with je
je called back told me “The underwriters are saying that you have to assume the loan before they will modify it so we are going to discuss this with assumptions.” I asked why, since I thought we had been over this before (see above 3/19). He said there is a gov’t mandate that has changed regarding mods on property not under your name.
6/13 called Je 7:30 am and left word
6/14 tweeted and got call back from KG who said she would get back to me Monday
6/18 kg called me back and said she would look into what is happening and get back to me on tuesday. She was very polite and helpful. I hope this works out.
6/19 8:30 am got call from JE asking for financials (again?) and needed some time to go over them. i had to take son to school so we arranged to speak at 3
called him at 3 no answer
called kg she said she would im him
kg called me back and said he would call in 20 minutes3:40 talked to je who asked me for earnings and expenses once again (same as I had submitted earlier). Am concerned b/c income is so low now since I am paid in chunks, money is in savings.
5:23 k g called back to check that he had called told me to contact her in 30 days if no progress
6/22 3:30 ish got cal from Je asking if i could afford a certain amt. per month but not telling me the interest rate. he said he coldn't tell me that until i said i could afford the amt. i said i would let him know monday.
6/25 called 7 am, 9 am, 12 noon and left word . got call back @ 2. Asked for slightly lower monthly amt. to make sure I could afford everything for next 30 years. he said he would try. asked if there wer hidden costs in loan and if i could see paperwork. he said there were some costs that would come up at end of loan. i dont undestand this. he said trial period would begin before we establish final terms. i'm confused but this is still progress.thank you for being my eyes.
Here is the old time line:

August of 2007: Purchased home in Culver City CA using two Countrywide loans (30 year fixed interest only and 7.25% interest rate and interest only 3.25% interest rate.) Both loans added up to 10% down. I always paid monthly mortgage on time. .
Sept., 2008: Mother diagnosed with bladder cancer that had metastasized to her colon.
Jan., 2009: I suffered spontaneous perforated retina. Had emergency surgery and have permanently lost half vision in one eye.
Sept., 2010 Mother passed away.
April, 2011: I assumed the full title on property. Applied for Making Home Affordable program.
I was repeatedly told to resend and that bank had not received my documents. I sent at least three times from my brother’s fax and local Bank of America fax at two branches.
May-June, 2011: Assigned to work with RC, my package was accepted, though not approved. I asked him how long it would take and he said about ten weeks maximum before I heard.
July, 2011: I still hadn’t heard and called. RC said to wait.
Oct., 2011: I still hadn’t heard. I called RC who told me that my application had been summarily rejected because, due to the death of my mother, the mortgagor of my loan was now an ”estate of” Property. This type of property was not entitled to modification under the Making Home affordable Mod program but I had not been informed of this. RC told me to wait until I got a final rejection from the bank to move to the next step and assured me there WAS a next step and that someone would be assigned to my case to help me with it.
Late Oct., 2011: Called back. RC was out of town. I emailed him but he didn’t respond.
Nov., 2011: Called for clarification about my situation. The customer service representative told me no one was able to help me. I asked for a supervisor. She told me, “You do not own the house. It is in your mom’s name and she’s dead.” (Direct quote). Our conversation escalated to raised voices. I asked to speak to someone else and she again told me there was no one else to speak to. I insisted and she put me on hold. Finally, not having any response, I hung up distraught and crying. Her rudeness was inexcusable, not to mention that she was wrong—although the mortgagor of the loan is now in the form of an estate of, the title of the house is fully in my name as sole survivor of the Joint Tenancy.
I have never been treated so badly by anyone in customer service in my life.
Nov., 2011: Called RC again but he no longer had a direct contact number. The customer service person this time said that he did not know who Romulo was or how to reach him. Finally I was able to have the customer service person email C. RC called me back and I found out that even though I still didn’t have final word from BofA I could try a traditional or in-house type of modification and gave me customer service number to call and try to work with them to get this.
A few days later I called to speak to someone about this. I spent two hours on the phone being rerouted to different people. One man said there were no other type of mod programs besides the Making Home affordable mod. Also, he had “never heard of” an in house or traditional mod. Someone else said that this wasn’t true, there was a modification that came along with assuming the loan but at a fair rate for the loss in value. She sent me to another dept. but it turned out to be customer service again. I went round and round all morning. In the afternoon I spent an hour trying to reach RC, asking two different people to email him for me, which I did, but HE NEVER RESPONDED.
11/9/2011 at 2:15 PM, having been advised by an attorney to keep track of all my exchanges going forward, I called Customer Service and spoke to J who tried to put me through to Modifications. He said, “They are not available, call back.” I asked to speak to the president’s office. He tried to put me through to Modifications again. The phone disconnected at 2:36. At 2:41 I called again. M answered. I asked for the president’s office and told her my story. She said she could not put me through and finally gave me this address and fax.
11/22/11: 9 am Called office of President and complained, threatened to go to press. I had written attached letter* but didn’t send it since I was able to speak to someone on the phone and convey my concerns. Was put through to LA who said he could help me and asked for relevant paperwork, which I sent. PD was assigned to my case. The plan was to assume the loan and then modify it.
11/30 Phone tag with PD
12/12 Left message for PD and called his supervisor and left word.
12/13 Called PD and supervisor, BW.
12/14 Called PW and BW and left word. Called AB. Left word.
12/15 PD called me and said he was no longer my point person but it had been assigned to JA.
12/20 Mailed package to bank to try to assume loan.
12/21 spoke to JA who asked where I had sent package.
12/21 Charged two times for mortgage because I had sent an unsigned check that was sent back to me so I replaced it with a signed check. The unsigned check was returned but also deducted and replacement check was also deducted.
1/3/12 S in Accounting explained I was paid up. They had applied unsigned check that they sent back to me to next month’s mortgage
January ? Received notification packet had been received by bank with paperwork to try to assume loan. Was advised by attorney, realtor, broker and friends not to assume loan at current high, interest only rate but request modification to fair market rate to avoid future foreclosure.
1/4 Called JA.
1/5 Called JA.
1/8 Called JA
1/9 Missed JA’s call and called back, left word
1/10 spoke to LA and asked, as a customer in good standing who is trying to avoid the eventual loss of the property, to assume loan at modified, market rate. We spoke for twenty minutes and I explained the complex nature of my situation. He denied my request. He told me I should try refinancing. I did not think I would qualify due to underwater nature of property. He assured me I could and gave me number of someone in refinancing, MP. I called MP who told me I would need about 150,000 to refinance and over the next few days did not return my calls to check on any other options. JA did try to call me back a few times on this day but after speaking to LA I realized any discussion with JA would be useless.
Feb ??Called to speak to someone about Obama program. Put through to my account supervisor and then disconnected
Feb. 29th, 2012 Received call from W at Bank of America Qualified Assumptions to see if I wanted to go through with assumption. Was told I would have to qualify for original loans with very high income and 12 months mortgage set aside if I wanted to assume the loan. He didn’t think I would qualify based on my income and I do not have 12 months mortgage set aside after being hit with a huge tax bill this year.
March 7: In last ditch attempt, called office of president and complained, threatened to go public with this. Was put through to AR and told her the story. She promised to get back to me Friday, March 9th at @2:15 PM and told me to continue to pay my mortgage.

March 9: Called AR At 2:15. No answer. Called again at 3:09. No answer. Left word both times.

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