I Got A Scary Letter In The Mail

Today I received a letter from Bank Of America home retention dept. The letter read thank you for your patience in awaiting the modification review process. However I am expected to make my monthly payments on time or it could affect future decisions on my loan. Of coarse I freaked out. So I got on the phone immediately, I spoke with Spencer and was told to ignore the letter and keep calling weekly. I am still in review. Spencer was encouraging saying to save my funds for the program decision when it comes. I am still very confident I will get an affordable work out plan. So I still wait.

Will The Government Help Stop Compound Interest?

Is anyone going to do anything about the added interest in these home loans? The modification process is taking months almost 2 years in some cases. From my experience the lender will not accept payment during this process. Which means that there is compounding interest daily on the past due amount as well as late fees! Who will help the homeowners with this? Why are these corporate investors allowed to do this? Can't limits be set? Homeowners trying to get back their homes after a devastation to their income and pending foreclosure are not in a position to negotiate... Lenders are adding thousands of dollars to these loans. Where is the governments stand on this?
All I can say is GET OUT AN VOTE at the next elections we need to clear the house out and get individuals that have a clear objective to help the consumers and not anyone that comes with drama from the gate like where they were born! Can I say get a clue people! I didn't vote Obama and am proud to say my gut is never wrong. If you pray, now is the time to pray for our future.

Exhaling For a Minute While I Wait

I spoke with David this morning in the home retention dept. David confirmed I am still in review. David was very friendly and I felt support when answering his questions about my hardship and the cause of missed payments. David informed me of the number of missed payments and I confirmed that BAC keeps in mind that number is also due to the Lender not accepting payment of any kind once you go into modification review. David said yes BAC is aware of that and it will have no bearing on the review process. But that they want the consumer to be aware of the figure. That made sense. I felt good talking to David who assured me BAC tries to keep homeowners in their homes. I am told to call every 7 to 10 days for follow up on any updates in the file. So I continue to wait.

Faxed tax documents

I keep my file as current as I can with financial documents.3/11/10 I just did my taxes and sent those in with my most current check stub. This is a never ending but necessary step. 3/12/10 I spoke with Mike in home retention, I was told my account is still under manager review and to call back to extend the sale date next week.
So I do 3/15/10 I speak with Evelyn in home retention Evelyn is able to verify "it looks like all your financials have been received" Evelyn sent a request to extend the sale date via email to the foreclosure dept. I was told to follow up with the foreclosure dept given that number and told to call Wednesday.
3/17/10 I spoke with Amanda in the foreclosure dept. She said no one has been assigned to my acct. yet but that it takes typically 120 business days to completion a review for modification. I am told the sale date has been extended for a month. Finally no more week to week extension. Amanda suggests I call once a week. I will stick to every two days just to be sure...

Finally A Little Breathing Room

This morning I grab a cup of coffee before that tightness in my neck starts upon anticipation of the phone call to Bank of America home retention dept.

I speak with Wayne a very nice young man. I am told there is no sale date or history of postponement in the system. Neal can not verify who the Attorneys are either when he is told the I personally spoke with the Attorneys to verify the postponement. He notes in my account our conversation and the new sale date I give him. And tells me to call on Friday.
Neal "welcomed me on board" and said " I hope you enjoy your stay with us, we will do everything possible to give you a modification" I jokingly ask for this in writing.Neal gives me the number to HUD and says "they also have many programs to offer and B of A does modifications with them" I am feeling hopeful. Thank you Wayne.

Day Of Pending Sale!

I am on the telephone at 5 am. I was told this is when they are open. Customer Service that is.
0500 I spoke with Terri I am still not found in the system "call back at 0900" I requested a Supervisor and spoke to Brandon and was told there shows no sale date and the Attorneys are not in the office yet to confirm. "call back at 0900" He did verify all faxes from me were received.
0900 I spoke with Markita she tried to call the Attorney and got a voice mail. Martika emailed her Supervisor and told me to call every two hours.
1100 I spoke with Neal I am told there is no sale date in the system. Neal tried the Attorneys again but did not get through. Neal said he spoke to "someone about escalating the file" I was given 2 telephone numbers and told to contact the Attorneys directly the numbers were to Sam Shannonberger LPS I got a voice message. I tried the number on the old paper work of over a year ago and was able to speak directly with the Attorneys office and verified the sale was postponed. The number I used was not either of the numbers I was given by Neal.
After a long sigh of relief. I decided to give it at least 24 hours before a follow up call since I was told no one has been assigned to my file as of yet.

Strangers knocking at my door!

My stomach aches beyond explanation. A man at my door wants to ask me questions about my house. At least he turns away easily with an apology offered as well. Others have not been so nice. Investors hoping to pick up my home are pushy and try to get all their words in before I shut the door or hang up on the phone. I am familiar with their disgusting tools. Consumers like me are hoping for a deal. It hurts just the same.
I was just starting to relax and not think about the pending sale to which I am in limbo at stopping thanks to both Wilshire and Bank of Americas poor planning and lack of compassion or protection for home owners currently in modification review. Where do we go and who do we turn to for reliable timely help?

Can I stop the sale of my home the day of the sale?

As per instructed I call this morning only to get a recording telling me the restricted hours to contact and of coarse I did not hear of these restrictions before. I missed them by 2 minutes! They are EST I am PT... So I sit and I wait to see if calling at 5 am tomorrow will stop the sale the same day.

Still praying to stop the sale of my home of 10 years

Friday I speak with Shakir a nice gentleman that insists I have to get the Lawyers info. For B of A to stop the sale as there is no way B of A has any record of my status without the Wilshire records which will not be "boarded" into their system until Sat. I insist I have never dealt with any Lawyer only to find out that who I thought was my Lender is actually the Lawyers for my Lender. So all I know is my "Lender" is a group of investors... I called "The Lawyers and was told that they are the Lawyers for Bank Of America too and to have Bank Of America Contact them to stop the sale. I do and of coarse I am told again no such account is accessible and there is nothing can be done. Call back Sat. to the Home Retention Dept. They are in by 5 am. But I am told to expedite things fax all my financials into B of A so it takes all night to get together but I faxed. So when I call they will have it per Gina in Home Retention. But unbeknown to me Customer service is who handles the upload of faxes and their are not available on weekends so I could not get any information with my call Sat. morning. I spoke with Pryaankka who is in India... She actually was most helpful in quelling my stress. I am told by Priyaankka that it takes 24 to 48 hours for faxes to be uploaded for her dept. Home Retention to get access but that she understands once scanned into their system even if they can not find my account. With the loan number they can still input the financials.And when this happens it is standard procedure to stop any pending sale date. However I am told to call back Monday morning...

There is hope within Bank of America walls

From the blog of http://www.trulia.com/blog/diane_wheatley/2010/03/bank_of_america_permanent_loan_modification_-_approved#c30750 I see a light at the end of the tunnel!
Thank you Dianne.

I spoke to B of A Foreclosure Dept.

I finally got a new account number from the Customer Sales Rep. Sam.He actually asked if I had any urgent concerns, I told him about my sale date and lack of information. He said though my loan documents or other information is not on file he was able to give me a loan number. And said I really need to talk to "the foreclosure dept" then I was transferred to Gerome. Gerome could not find me in his system but said "the sale would most likely be postponed" I asked if Wilshire properties missed the postponement and were sold could happen? Gerome said yes, it happened today! I almost fell out of my chair!. Gerome said it is 100% a legal issue. He said Wilshire has it's own Lawyers and Bank of America has it's own Lawyers. He said since Wilshire is no longer a company Lawyers at Wilshire are working for free once the loans are transferred with B of A. Gerome tried to assure by saying the procedure "should" that the property does not go to sale. But I need to talk to the legal department asap. He gave me the number to call but it will have to be tomorrow when they are open (of coarse my work hours)Gerome asked if I had spoken to the legal department at Wilshire I said never. But I was still encourage to try to get verification from Wilshires legal team. So I tried to call Wilshire but at this hour the line is perpetually busy...
I do not have non tense bone in my body.

A Bank of America search online for success

When I told my brother my new loan servicer is Bank of America he said they will not help me. My brother had many colorful descriptions for B of A. I of coarse am hoping this is not the case. I went online to look for success stories but did not find any other than banking So this is what prompted me to start this blog to seek out support and share my success. As I am working and can afford my home and should not be denied even though Home Affordable denied me...
I did come across this blog
http://www.moveupproperties.com/Nav.aspx/Page=Http://www.trulia.com/blog/rss/diane_wheatley/
It was informative and scary at the same time.

Too Many Missed Faxes

I finally rushed out to fax my most recent check stub to my old loan servicer Wilshire.I was told not to fax to Wishire by their Customer Service to wait for direction from the new servicer BAC but I never got any direction and am in limbo as I stated in my last entry...
So to hopefully avoid the dreaded "we never recieved it" I faxed to Wilshire and as soon as I get a fax number from Bank of America I will fax it to them.
I am trying to be completely up to date to avoid any mis haps.
It cost me $3.00 but I am awaiting Comcast to fix my phone line so my home fax is out of use at the moment.

My mortage modification experience

I like so many others, found myself without a job. I was let go in August 2008. I fell into a bit of a depression I’m sure, before finally finding employment and attempting to get my financial situation back in order. A brief history about me
Shortly after moving to Sacramento I left employment at the hospital that has given me my great job back and hopefully saved me from loss of my home. I had been recently licensed as a Real Estate Agent and my plan was to educate others how they can get an affordable mortgage, explaining options and not over charge people simply because I can. Yes I understand the back end of lending and have seen how corrupt it could be and how driven by the dollar people were. It was ugly, needless to say I was a poor agent. I found out quickly people were not trusting and were easily swayed by “the fast talkers” I was not a sales person I was and am not into convincing anyone I am honest. So when the market crashed I got into trouble with my own mortgage and needed to return to work which I did. Things were looking good. Then I was let go.
Here is my timeline of trying to work out a loan modification starting with Wilshire Credit Corp. a loan servicer. My lender is Quality Loan Service Corp. of San Diego Ca.
While on unemployment I struggled with mailing in whatever I could afford knowing as long as payment was accepted foreclosure was halted. But the threatening loss of lights, heating, and the loss of my vehicle were rearing its ugly head I had to choose family first. I do have two children at home, if it were only me I would have fell to darkness and probably more depression.
5/30/2009 I typed up a letter of explanation and faxed it to Wilshire Loan Workout Dept. This letter explained that I now had two jobs, went in detail of my income from both jobs. Explained how I got into the financial situation in detail that I was currently in. I included both Managers names and phone numbers for verification. I described the loan I was in (a 2 yr ARM principal and interest only) I asked that I be considered for an affordable fixed mortgage with taxes and insurance included(impounds). I added that I missed place my W2’s and would fax them when found. I faxed a total of 43 pages including, all tax documents except mentioned w2’s (but my known income was included), my financial statement, 1 month current check stubs, front and back all pages of 3 months bank statements. I am told this could take as many as three months for review.
7/1/2009 I receive a certified packet, it is my loan modification offer from Wilshire. I am initially excited to see an affordable payment but then am immediately afraid because I do not see how I can get the down payment up in 20 days. I know it’s not a lot that the lender is asking but I didn’t have it. No loan terms are mentioned only that there will be a 5 month trial period. I do not sign it or mail the documents back.
8/7/2009 I received a letter with this date at top. It is a request for income verification documents. The letter told me I am in review for “The Federal Governments Home Affordable Modification Program.
8/19/2009Spoke to Hector at Wilshire, I am told my account is still in review to expect a packet from The Home Affordable Program by the end of August or July and follow the directions in the packet.
9/28/2009 Spoke with Sara at Home Affordable, Sara verified there is no scheduled sale date, but there were no updates noted in my account yet and to call back in two weeks.
10/17/2009 received a call from Wilshire I spoke with Beverly. I was informed there was no sale date. Beverly said I needed to request a VPO to have someone at Wilshire do a Property Value In comparative housing. Beverly spoke with a “Hope Officer” and said call Monday for status.
10/19/2009 I missed Customer Service by 9 minutes when I finally got home to call.
10/20/2009 Spoke to Sara at Wilshire.
11/02/2009 Spoke with Leo who said I have a sale date of 11/12/09 to submit for postponement of sale date 7 days before and that he could not make a request yet. To call back every Monday or at least before 11/19/09.
11/2/2009 I am not really sure what dept. I was speaking with here at one point My lender had to add home owners insurance fees onto my loan because I could no longer keep up with my policy. So When I returned to work I faxed my policy in and thought all was great turns out there are different dept.s that do not communicate with each other and I was charged for several months for homeowners insurance when I had paid coverage. This was a mess. On this date I had my State Farm Agent fax verification to My lender this of coarse took several days to get it right and I finally am told any overage will be refunded to my account, it will take 35 to 45 days to change. Of coarse I have not heard anything and to be honest can’t even think about this.
11/03/2009 Spoke with Jean at Home Affordable who told me I was denied on 10/18/09, I was shocked no one had called me. It turned out that the wrong income was noted in my account. I was told there was no Officer assigned yet to call back on Friday 11/06/2009.
11/16/2009 Spoke with Mike at Wilshire am told sale date is extended to 1/19/2009 and to keep calling every week for status.
11/25/2009 Spoke with Davia at Home Affordable I am told I am in review which started the beginning of Nov. And it takes 45 to 60 days for each review. But that no Officer was assigned yet to my account. Davia said she will try to get an Officer assigned and to call back the middle of
December like the 18th.
12/23/2009 Per Isaac at Home Affordable am told I was denied I never received a call even though they show in the account that someone left a message on 12/21/09. So I was back at Wilshire for review I faxed 2 mo. Bank statements, 2 most recent bank statements front and back, 2 most current check stubs, 2007 tax returns and 2008 tax returns with a letter of explanation. I am told the sale date now is set for 1/19/09 and I must request a postponement not sooner than 1/11/09 but that I should call every two weeks for a postponement date. And after faxing all the docs to wait a week to verify they were received and in the system. I did this. I am told this could take 10 weeks and it started on 12/21/09.
1/05/2010 Tasha at Home Affordable said review time is 6 to 10 weeks, keep sending in all updated documents. I was told the mortgage offered cannot be more than 31% of my income.
1/07/2010 I call the property tax line to assure they are not due. I have been worrying that my modification will not be complete before these are due as I cannot pay until I know what my lender wants each month. First installment will be due 4/10/2010 I pray this is complete before then.
1/11/2010 Spoke with Robert to request a sale date extension and was told to refax my bank statements. Robert informed me that my complaint of no contact( not even on my recorder) was due to the computerized system taking the home number in it’s automation. That it does not recognize any other number in the account even though all letters and calls request contact via cell phone. Robert kindly removed my home number from record.
1/11/2010 Faxed to Wilshire front and back of my 2 mo. most recent bank statements and 3 most recent check stub’s. To both the rush fax line and the regular in house fax line. A total of 37 pages.
1/12/2010 I return a message to Wilshire there is no Home owners insurance on file. Again I rush fax verification.
1/13/2010 Spoke to Laray there is no verification of insurance in file. Can’t request postponement of sale till this is verified! UGH Laray takes the time to clear this up for me and puts in a request for postponement. I am told it will take another 30 days for review, call back on the 18th to verify all faxes received and postponement of sale.
1/20/2010 Spoke to Crystal at Wilshire, updated account info. Postponed till March 8th I am told I can call 7 days before sale date for another postponement request. But to call again at least by Feb. 25th to check status. Crytal confirmed the review usually takes 40 to 60 days I am told I am in 20 days review time which started on 12/21/09.
1/21/2010 most recent check stub faxed to Wilshire.
1/24/2010 faxed most recent bank statements and check stub to Wilshire.
2/12/2010 I received a letter of notice of assignment, sale, or transfer of service to BAC Bank of America.
2/08/2010 – I Spoke with Kevin at Wilshire a Customer Service Rep. I was told my loan was sold to Bank of America for servicing and not to worry that I am with the same lender it’s just the servicing. Like I ever deal with the lender… but I guess that was a good thing. Kevin said that by March first I would be dealing with Bank of America and that I would need to contact B of A 3/1/10 for follow up and that my loan remains in review. Kevin confirmed all my financial documents were received and up to date in the file. Any financials sent in would be forwarded to the new servicer. Kevin kindly commented maybe B of A will have more programs to offer.

2/24/2010 I spoke with Tasha a Customer Service Rep. at Wilshire I was told my loan was sold and the sale date of 3/8/10 would “most likely” be postponed automatically on transfer to the new servicer but she could not guarantee this. The transfer date was 3/1/10 and to contact the new servicer for follow up. It is still in review.
3/2/2010 I spoke with Myra at Bank of America who tells me there is still no record of me in the system and confirms what I was told the day before that access to the Wilshire loans will not be until the 8th. Myra also could not verify if my sale date would be extended. Myra does tell me when I question if it’s common for Banks to by bad loans. Myra says “when batches of loans are sold to B of A, B of A is not told if that lender is making any modifications of those loans or anything else”. Unable to verify if there is an automatic postponement of sale Myra used my social security number to try to find my loan but had no success. I am told to call everyday to see if I may have got into the system earlier. Myra informs me I am not the only one that several people with Wilshire have been calling trying to get more information on their loans. She does her best to console me as I explain the stress and anxiety I am having since being denied twice by the “HOME AFFORDABLE” program Myra explains that B of A has many programs and if I qualify I will go on a short trial period of maybe 3 to 4 months. I feel lost but the kind words helped a little for about two hours. After the call by two hours I am remembering the farce of what I went through with Obamas HOME AFFORDABLE program. A computer system that allows for depersonalization of home owners and attempts to put a round peg in a square hole.

I am now brain dead reliving this, there are no words. Can you say anxiety?

My Lender will not take payments...

I sat down this morning with a cup of coffee. Logged on to my laptop ready to finish writing about my mortgage history when a girlfriend called. She also was let go by the state of Ca. and is in a panic looking for work and trying to maneuver the Employment Development Dept.(EDD) I spent more then two hours on the phone with her listening to her concerns about weather she should take a job that would pay her what she is to receive in unemployment benefits but would require hours that would not allow her to search for employment in her Nursing field. In other words middle of the day and every weekend hours. It is a catch 22 does anyone have the right answer? I feel her stress through the phone. After trying to give her what supportive words I can she asks how I am doing... I explain... she gives me the best supportive words she can find and we decide to meet Friday night for coffee.
My friend said well as long as your making payments they can't sell. I informed her that Wilshire stopped accepting payments when I fell too far behind. At first I was told any payments received will go into a "holding account" until it reaches the amount due at that time would be applied to my loan. But in my situation there were times I had to keep utilities on and could not send anything in towards my mortgage loan. This is the plight on people on unemployment. It just isn't enough to go around. I so much want to send in payment I know what I can afford now that I have been back at work for sometime. What lenders don't understand is that people are living pay check to paycheck and when your financial situation has been devastated by unemployment. You are in a constant state of catch up. Every bill that you have is adding late fees each month and in some cases you are barely making a dent in the past due balances. I consider myself one of the "lucky ones" as I do not have any credit cards so I am not seeing that kind of mounting debt. But as you know there is the constant threat of having utilities shut off... So when my Wilshire finally offered me a modification, I did not have the $3,000 deposit it requested... I will explain that more in detail when I can finally get back to my mortgage time line. For now I have been missing calls from another girlfriend (a Nurse) that also was let go by The State of Ca. and is in a perpetual state of up an down moods. I try to be a rock of support for these women. I will let my brain breathe a minute from my own situation to call this friend back and give supportive words and then I will call my sister who like the rest of my family is unemployed as well as her boyfriend. I haven't talked to my sister in about a week so I need to check in. I hope I can get my mortgage time line on my blog today!

OMG!

I don't believe it! I didn't save the document I started and lost all the writing I did so far. UGH, my brain hurts. I will continue tomorrow the word doc that will inevitable be much much longer then the two pages I lost.
I did make a call to Bank of America and spoke with Jon in customer Service (a woman) Jon could not find me in the system yet either via a social security check and a property address check. I explained my concern about my sale date on 3/8/10 and that no one is able to confirm the postponement. Jon spoke with a Supervisor and returned to say the Supervisor said there is a 99% guarantee that the sale will be postponed. I of coarse am not happy with 99%. Jon read from an side notification verbatim " all loan information on loans purchased from Wilshire will be available 3/8 there is limited information currently" Then Jon went on to say B of A purchased 120,000 loans from Wilshire and any loan in modification with Wilshire will continue at B of A and will not start over.
I am hoping for the same offer Wilshire offered me before sending me to Home Affordable. But I will explain that tomorrow. My mind is swimming for now...

testing post

I have spent most of my morning trying to figure out the best blog and how to get it's feed onto my face book. Needless to say I am not a technical person. So you will read the most recent post today was actually written yesterday because I transferred it from the original blog. I decided to go back to Blogger as I am familiar with this format and I think I can now focus on sharing my story. I look forward to hearing from other home owners. I ask that people who seek to offer their services to the home owner bloggers stay far far away as you will be deleted, denied and told to go away. This is not for you.

I need help

I have a feeling of desperation in wanting to talk to someone anyone that can tell me there is a light at the end of the tunnel. I am actually eager to share my story about my personal mortgage odyssey. As of 3/1/2010 I was told Bank of America owns the servicing on my loan. But both yesterday and today's phone calls to Bank of America have been fruitless. They do not have record yet of my loan. I am told by both to keep checking back. I am exhausted and can not think anymore. I am hungry and tired after a long day of work. Tomorrow I will attempt to share my mortgage odyssey with you in detail. Words of encouragement would be great if you have any... do you have any experience dealing with Bank of America in a home modification?
I think I can blog on facebook with this tool, so I look forward to building supporters I am unsure yet if you can reply back here. I will know more tomorrow.