The number of homeowners in the Obama administration's flagship foreclosure prevention program is growing, but it's not all good news. As 3-On Your Side's Jim Donovan reports, many applicants sit for months in limbo, awaiting final answers from their banks.
Adrienne Ervin has lived in her Drexel Hill home with her son and daughter for nine years. She tells us that she was working non-stop and had a great job with great pay until things suddenly changed in 2009. That's when Adrienne was laid off from her job. Unable to pay her mortgage, she reached out to her lender, Bank of America, for help.
After several months, the bank agreed to modify Adrienne's loan. They lowered her interest rate, gave her a new payment, and also gave her 60 days before she was to begin making payments.
But then, without warning, Adrienne says, "They took it back and said they approved me for the wrong kind of mortgage."
So it was back to square one.
Adrienne says, "I sent my pay stubs about 20 times, I've sent my utility bills, my bank account statements, everything they asked for."
Then one day the Sheriff came by to tell her that foreclosure proceedings had started.
The rest of the article is here.
I feel like we're in the Twilight Zone with The Bank From Hell, Bank of America. I've been misled, put into the wrong mortgage program, run in circles, and been outright lied to since November. I don't believe a single word any of them say to me anymore, especially now that I've learned they give false names and false information to get you off the phone.
They say banks want to help. Don't believe it any more. I think this is just something they say and they're just as happy to foreclose on people. Why else would the situation be like this with so many run around in circles by the same bank. When we were dealing with the company before BOA (Taylor Bean Whittaker), everything was spit spot and on the ball. Unfortunately that company apparently got itself into trouble and sold all their accounts to BOA.
I think BOA would like to dump any of these customers, including us.
I contacted consumer reporter Jim Donovan, who has the "3 On Your Side" series. I mean, I left a message for him. He helped the lady in this article. Wouldn't that be awesome if he could help us?
Right now, I'm stressed and depressed. I feel pretty hopeless but I'm trying not to. I'm trying to see things could still work out.