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Well, I too lost my job. Had high mortgage payments and fell within the 31% so I applied for the Home Modification. Looked like things were going well as I did everything I was suppose to do. I got fed-x paperwork to finish and had to set up a time to sign final papers at my home so the new modification could be finalized with the new monthly payments. I did all that and Bank of America continued to call me to see when I was going to finish the paperwork. I called them and discussed with them that I has done this. Oh, so they see yes they did get all the required paperwork back. Now I was told it would still take awhile but sometime in November they should have it all finalized and I would start seeing my payments on my monthly statements. Well, November 3rd, they send me a letter to tell me I was denied(after I had made 3 of the new revised payment set up in their letter I signed in front of the notary)

So I call them again to see what this denial is all about. I can't get a straight answer from them. The letter I received isn't posted in their system yet so I have to wait another week.

Mind you, through all this process, we are all getting deeper in depth and farther behind because if you're denied, you now owe the rest of the payment from the smaller trial payments you made(I made four of them) plus I made 3 of the new payment plan that was $120 less than my original payment so now we'll owe late fees on top of this until we have it all paid up.

Tell me this is "saving the dream". The only people making out on this is Bank of America.

Good Luck to everyone in trying to find somewhere to live that you can afford!

Product or Service Mentioned: Bank Of America Mortgage.

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Anonymous
Merrillville, Indiana, United States #234449

Massachusetts Court Voids Two Foreclosures

Seizures by U.S. Bancorp and Wells Fargo overturned

01/10/2011 | Mark Huffman | ConsumerAffairs.com

"The Massachusetts Supreme Court has overturned the foreclosures on two homes in the Bay State, sending a shock wave through the banking industry.

The Massachusetts justices ruled that neither U.S. Bancorp nor Wells Fargo have proved they had a legal right to evict homeowners when they filed foreclosure papers on the two properties in 2007.

Legal experts were quick to point out that the issues raised by the justices were specific to the two cases in question and won't impact other foreclosures, but it was nonetheless viewed as a legal shot across the bow of the banking industry. Bank stocks sold off sharply in Friday's trading after the decision was made public.

The courts ruled that both Wells Fargo and U.S. Bancorp had not actually been assigned the mortgages before they filed papers to foreclose. Instead, the banks began the foreclosure proceedings, then gained ownership of the mortgages.

The ruling comes at a bad time for banks, but provides some measure of hope for homeowners fighting foreclosure. Revelations of lender abuses and sloppiness have triggered a number of investigations. In fact, late last year ALL 50 STATE ATTORNEY GENERALS launched a joint investigation into foreclosure practices. In addition, some states have unilaterally sued various loan servicers.

As a result, fewer homes are the subject of foreclosure, reducing the inventory of foreclosure properties coming to the market. The U.S. Government reports foreclosure activity fell 21 percent from October to November, the largest one-month drop in five years.

Ironically, a slowdown in foreclosures could actually provide a respite for the beleaguered housing market, which has struggled to gain traction over the last two years. With fewer foreclosures coming to market, most of which are priced well before other homes, housing experts say it could help real estate prices recover faster."

CALL YOUR STATE ATTORNEY GENERALS OFFICE AND FILE A COMPLAINT NOW!

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