Reader Comments                                                                                                                Report an offensive comment

return to story

Faulty Foreclosures May Prolong the Slump

All Reader Comments

page 1 of 3

Daniel Oct 14, 2010 12:52 PM GMT I have received notice of motion for default judgment of foreclosure on behalf of Bank of America mailed out on the 12Th of Oct. Scheduled for the 3rd of November. The by representation of Blommer Peterman, SC 13700 W. Greenfield Ave. Brookfield, WI 53005 262-790-5719. I called them to inquire why I was receiving the notice of motion when BAC had stop foreclosure proceeding in all 50 states. The response I received was well BAC is only doing this for 1 month. The date I am scheduled to be in court is prior to the month being completed. I believe this is just a facade BAC is putting on to pretend like they are concerned with the dealing of the robo tactics. that have been going on. I was approved for the making homes affordable almost 13 months ago. BAC has avoided any contact with me since this time. I have called 17 times in 13 months to inquire about the status of the account and have been getting the 90 day response reply each call. BAC is 10 months past the deadline they gave me to help with my loan... then I started receiving foreclosure paper work.
Link to this comment

Dana Gibson Oct 6, 2010 3:13 PM GMT Though this my slow the foreclosure process in some states, it really should force the lenders to give the short sales pending the attention they need AND make it easier for the homeowner to get out of a bad situation avoiding foreclosure. Http://fortcollins-shortsales.info
Link to this comment

Haubassuddy Oct 3, 2010 7:47 PM GMT Вот еще немного ссылок на тему, как похудеть.похудеть http://tylerleonard.t35.com/
Link to this comment

Daniel Diaz Oct 3, 2010 3:15 PM GMT This story is so true. I myself am in the same boat. Countrywide, now BOA. I tried modifying denied the first time. I after being retired was told to find a job for more income. Denied!!! I did, now the application was resubmitted, I was told, I made too much money. Denied!!!!! Mean while the value of my propert was devaluating to a point that the appraised value is less than almost half of what I paid for the the house, $630.500 as said by the attorney, worth $337,000 two years ago. Is it worth me keeping the house? I had to file chapter 7. Whatever little money I had saved up for retirement went down the drain , waiting for answers and trying to keep up with taxes, association, mello-roos. The garbage people do not want to let me out of paying the fees, unti I supplied information as to who presently owns the home, there is no garbage produced, the association still wants to collect the fees even after I moved out of the property and community. What the hell is there to do??? Where is all the help that was promised. Where has all my taxes gone that was supposed to help us out of this jam. What has my taxes done for me!
Link to this comment

Daniel Diaz Oct 3, 2010 3:12 PM GMT This story is so true. I myself am in the same boat. Countrywide, now BOA. I tried modifying denied the first time. I after being retired was told to fined a job for more income. Denied!!! I did, now the application was resubmitted, I was told, I made too much money. Denied!!!!! Mean while the value of my propert was devaluating to a point that the appraised value is less than almost half of what I paid for the the house, $630.500 as said by the attorney, worth $337,000 two years ago. Is it worth me keeping the house? I had to file chapter 7. Whatever little money I had saved up for retirement went down the drain , waiting for answers and trying to keep up with taxes, association, mello-roos. The garbage people do not want to let me out of paying the fees, unti I supplied information as to who presently owns the home, there is no garbage produced, the association still wants to collect the fees even after I moved out of the property and community. What the hell is there to do??? Where is all the help that was promised. Where has all my taxes gone that was supposed to help us out of this jam. What has my taxes done for me!
Link to this comment

Craig Oct 1, 2010 9:50 PM GMT The banks made no effort to work with distressed homeowners. The ineffectual Obama plans were completely voluntary. Hence, the banks did nothing to assuage the foreclosures debacle. Our corrupt congress, being in the pocket of banking lobbyists, dared not attempt to formally legislate a reasonable plan to help distressed homeowners avoid foreclosure.Personally,I am overjoyed that the evil banks are now faced with some legal redress as a result of their rigging the game.Not until there is principal reduction can the debacle be ameliorated. Even if you have half a brain as so many of our politicians do, you can easily see that this is the only answer.
Link to this comment

Amanda Oct 1, 2010 7:27 PM GMT Wilbur, Your post reflects your ignorance. The problematic housing issues began under Clinton's watch. Stop blaming Republicans. There are many government and private sector entities who are responsible for this mess. Ultimately, the realtors, lenders, homeowners, etc are responsible for making irresponsible decisions. Homeownership remains an earned right, NOT an entitlement. Check your facts before you post inaccurate comments.
Link to this comment

DoubtingThomas Oct 1, 2010 11:50 AM GMT Am I the only one who doesn't understand why the government owns 56% of GMAC / Ally, and is only "pressing" lenders to reduce foreclosures? Obama, you own, and therefore run, GMAC. If you really wanted to fix this problem, you can pick up the phone and make the call. Don't give me this "our hands are tied" BS. Completely incompetant.
Link to this comment

J.J. Oct 1, 2010 9:48 AM GMT I HAVE to add...I hope someone straightens this mess out so that people who have been paying and making an effort stay in their homes and that people who have lost their jobs in this bad economy can work out something as well. Obama just crossed the country in small town tours to address the unemployment numbers and poor economy. There is a reason people are having troubles with their house payments... lack of jobs, the economy and the big bank bailouts that apparently didn't help main street but kept CEO's bonuses going. Remember, not all people in this mess were "just not paying" on their loans and living in houses they couldn't afford in the first place. The country in the last several years has changed the lives of a lot of people and not in a good way. Good people are facing situations that are totally out of their control....
Link to this comment

J.J. Oct 1, 2010 9:43 AM GMT Can I just say, we are in this boat with Chase. My husband was injured on the job in October of 2008 and Chase recommended we modify our loan due to loss of income and the fact that I own my own small business. They took our $3,000/mo payment (we do not live in a HUGE house, we live in Seattle) down to $1,600.00/mo and I have paid that on time, every month for 23 months.Chase has cited "incomplete paperwork" 3 times despite my sitting on the phone with someone while she checked my paperwork in as I faxed it. We have owned our house for 9 years. I have paid (approx) $325k on a $350k loan.We got our auction papers last Friday. Even though I've been paying. Even though I have submitted my paperwork THREE times (if not more), even though I have done every single thing they have asked of me in this whole nightmare process. "lost paperwork, 17 months behind(?!?) and a demand for $52k
Link to this comment

BW Mall - Sponsored Links

Buy a link now!