I am now not getting timely return calls from my HUD Counselor. I imagine he is swamped with his case load of homeowners in the same situation as I am. And I also imagine his phone calls to Bank Of America like mine are also not returned in a timely manner... All I can think is common sense tells me my HUD counselor has not received any response to his telephone calls either and therefore has no new information to provide me with.
I try not to read the news on home owners struggles with their banks as I rarely come across any positive out comes. I am reading things like the bank reneged on the agreement and foreclosed the home right under the homeowner who made all the agreed upon payments...
What are we too do? Suing has not made any welcome changes for the communities. Who will give us the help we need to take back the homes we have lived in for years or even decades?
Monday, November 29, 2010
Sunday, November 14, 2010
Faxing Financials Diligently And Getting No Where.
When I have not posted to this blog for a few days it is because I have no news to update with. For now my life consists of weekly to bi weekly faxes of any and all financial documentation that I have or receive. I forward everything to Andre at The Sacramento Urban League HUD Counseling Center. I have started to receive monthly mortgage statements, I got another one in the mail yesterday. All I can do is fax to Andre and continue my prayers that with my due diligence and commitment I will eventually get a satisfactory modification from Bank Of America. I am as terrified as the next home owner in my situation.
Nothing makes sense, I read so much in the media, on other blogs, in the newspaper but nothing gives even a hint as to how we are all going to reap the benefits of the financial bail out. What I am reading is how "the investors need to approve the modifications". How "it must look good to the investors" when really I think why is the investors bottom line the deciding factor? Why if the government bailed out the financial institutions and are holding them accountable to providing homeowners with modifications. Shouldn't "the investors" that bought up mortgage bundles in droves hoping to capitalize on the homeowners long term payments also be held accountable? By not examining those bundles closely before buying they were telling other investors it's safe and lucrative follow my lead all they cared about was their bottom line and that they make money. This drove the market "Those investors" should also be held accountable and not be protected by our government. Bottom line is homeowners need to stay in their homes and the ones that need to take a loss if any should be the financial institutions and the investors. People that not only themselves but the community hold to a higher standard of education and understanding of long term effects for the global financial future of our country.
Nothing makes sense, I read so much in the media, on other blogs, in the newspaper but nothing gives even a hint as to how we are all going to reap the benefits of the financial bail out. What I am reading is how "the investors need to approve the modifications". How "it must look good to the investors" when really I think why is the investors bottom line the deciding factor? Why if the government bailed out the financial institutions and are holding them accountable to providing homeowners with modifications. Shouldn't "the investors" that bought up mortgage bundles in droves hoping to capitalize on the homeowners long term payments also be held accountable? By not examining those bundles closely before buying they were telling other investors it's safe and lucrative follow my lead all they cared about was their bottom line and that they make money. This drove the market "Those investors" should also be held accountable and not be protected by our government. Bottom line is homeowners need to stay in their homes and the ones that need to take a loss if any should be the financial institutions and the investors. People that not only themselves but the community hold to a higher standard of education and understanding of long term effects for the global financial future of our country.
Wednesday, November 10, 2010
Still Getting Nowhere With The CEO Asst. at BOA
I spoke with Alicia Corosco yesterday and she had no information for me on my account. She did say she left a voice message for Colby Gilbert my account reviewer and that she has not received a call back yet.
I told Alicia that I had faxed copies of letters I received on Friday the week before from Bank Of America. One that looked like it was one of those automatic computer generated letters. It was an "important message from Bank Of America about my loan saying that if I was having problems paying my loan to give Bank Of America a call right aways so that I could consider several options 1. loan modification 2. repayment arrangements 3. deed-in-lieu 4. short sale/ payoff. Really are they serious!? And also on Friday I received a second letter. This one is a mortgage statement, yes a regular mortgage billing statement. I wondered if it would be to my benefit to mail in a payment and see if they would accept. But of coarse I fear never getting a resolution which would be a travesty and BOA would keep my payment...
Of coarse I'm angry that it is clear BOA is so disorganized and the departments do not communicate with each other that it is a waste of my time and theirs. Imagine the costs involved. BOA is paying out thousands to unqualified account "reviewers" that do not even know what their doing. If this were not the case why then are home owners still up in arms going nowhere, life on hold, unable to make important decisions while putting everything on hold awaiting the outcome of their future? A decision made my half a system half un educated people many of whom don't even live in America!?
At one point in a conversation with Alicia she had noted "maybe the investors had not made a decision on my account yet" who are these investors and why can't I speak with them? If Bank Of America is going to blame the hold up on "the investors" shouldn't we be communicating with them and hold them accountable?
I told Alicia I faxed copies of everything to Andre my HUD Counselor. This time Alicia was not so personable or professional. She seemed annoyed with my call Alicia told me " well Bank Of America is not going to stop what their doing just because you asked for a modification" I don't think she understood what I was asking. I wanted to know why a letter and bill would be generated when I was never in their billing cycle in the first place and that since being bought from my previous lender had been in "modification review" again Alicia was condescending and said "even if you ask for a modification the bank is not going to stop what they do" And this is the Assistant to the CEO! WOW doesn't that say a lot about the kind of people and there level of professionalism? Just who do these people think they are? I bet if they were in our shoes they would be just as desperate as the rest of us for answers.
I didn't even tell explain to her that my life is on hold until BOA makes a decision. I can not enroll in college classes, college is expensive these days and I need to know what I can afford to make those kinds of choices. I would like to purchase a used motorcycle ( a longtime dream) but of coarse that would be deemed a frivolous irresponsible purchase...
It seems the David Write lawsuit is not fearing any better.
Would standing out in front of the banks with huge picket signs naming names of those we spoke with that are getting us know where help?
I told Alicia that I had faxed copies of letters I received on Friday the week before from Bank Of America. One that looked like it was one of those automatic computer generated letters. It was an "important message from Bank Of America about my loan saying that if I was having problems paying my loan to give Bank Of America a call right aways so that I could consider several options 1. loan modification 2. repayment arrangements 3. deed-in-lieu 4. short sale/ payoff. Really are they serious!? And also on Friday I received a second letter. This one is a mortgage statement, yes a regular mortgage billing statement. I wondered if it would be to my benefit to mail in a payment and see if they would accept. But of coarse I fear never getting a resolution which would be a travesty and BOA would keep my payment...
Of coarse I'm angry that it is clear BOA is so disorganized and the departments do not communicate with each other that it is a waste of my time and theirs. Imagine the costs involved. BOA is paying out thousands to unqualified account "reviewers" that do not even know what their doing. If this were not the case why then are home owners still up in arms going nowhere, life on hold, unable to make important decisions while putting everything on hold awaiting the outcome of their future? A decision made my half a system half un educated people many of whom don't even live in America!?
At one point in a conversation with Alicia she had noted "maybe the investors had not made a decision on my account yet" who are these investors and why can't I speak with them? If Bank Of America is going to blame the hold up on "the investors" shouldn't we be communicating with them and hold them accountable?
I told Alicia I faxed copies of everything to Andre my HUD Counselor. This time Alicia was not so personable or professional. She seemed annoyed with my call Alicia told me " well Bank Of America is not going to stop what their doing just because you asked for a modification" I don't think she understood what I was asking. I wanted to know why a letter and bill would be generated when I was never in their billing cycle in the first place and that since being bought from my previous lender had been in "modification review" again Alicia was condescending and said "even if you ask for a modification the bank is not going to stop what they do" And this is the Assistant to the CEO! WOW doesn't that say a lot about the kind of people and there level of professionalism? Just who do these people think they are? I bet if they were in our shoes they would be just as desperate as the rest of us for answers.
I didn't even tell explain to her that my life is on hold until BOA makes a decision. I can not enroll in college classes, college is expensive these days and I need to know what I can afford to make those kinds of choices. I would like to purchase a used motorcycle ( a longtime dream) but of coarse that would be deemed a frivolous irresponsible purchase...
It seems the David Write lawsuit is not fearing any better.
Would standing out in front of the banks with huge picket signs naming names of those we spoke with that are getting us know where help?
Wednesday, November 3, 2010
Wrong Alicia at Bank Of America
My last post talked about Alicia the Assistant to the CEO of Bank Of America. After a bit of phone tag I finally spoke with Alicia yesterday and it is Alicia Corosco not the one named in the last post. i explained to Alicia C. My predicament and Alicia was very professional(maybe on the first call she was having a bad day. But at first she said she could not find my account as even being in a modification review. But then she finally did find my file. She said that there were no notes in my account stating that I have been reviewed and denied for any programs. She did state she was glad to hear I was now being reviewed for an in house modification as opposed to the HAMP. Alicia confirmed what Andre my HUD Counselor said which is that an "in house modification" is usually quicker and per Andre in some cases can be a better modification in terms then the HAMP. Alicia said that she would see if she could get more information on the status of my modification process "maybe the investors had not made a decision yet" And that she would get in contact with the third party helping me, meaning Andre. So today I spoke with Andre who said he has not received any messages or calls from Alicia yet. And all Andre could tell me is the same thing he has been telling me since I started working with him. Which is "he has not heard anything new yet, I am still in review, no new documentation is needed at this time and my sale dates has been postponed. I am hoping that with the actual complaint filed directly online with the bank as well as to the CEO bryan.t.moynihan@bankofamerica.com and the mention of the lawsuit that I support John Write vs. B of A lawsuit. I will get some finalization. Alicia at least was understanding of my dilemma and gave some comfort in that. I now await a phone call from anyone that will help me.
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