CW/BOA getting desperate...Anyone have a similar situation?

[Stilltheone]

So, we included our house in the bankruptcy, no reaff. We've been paying on time until recently.

I got a notice dated August 5th, telling me BOA was going to foreclose on me....because my June 20th payments and July 20th payments were late. Are you frickin' kidding me??!?!? I'm 45 days late on June's payment and they're going to foreclose on me??

Is it just me, or are they getting desperate?? Of course, I paid June's payment and plan on paying July's and August early September, so I will be caught up...I was just SHOCKED that they sent that to me for being not even 2 months late!!

[DebtEnder]

I have boa via CW and filed chapter 7 myself, discharged back in jun. At the time thought about keeping the house but since changed our minds. Have not made a payment since April.

Here's the kicker I have full access to my account on BOA again during the BK with CW they locked me out. Once the changeover occurred BOA gave full rights. And for the REAL kicker the statements they are sending are just for that months balance, no late fee's, no past due reminders just the normal principal/interest/escrow amount. The only way to see that I am in fact past due is to go online and see that the last payment I made was back in April. Even that does not say anything about being past due just that I have not made a payment since April. Very odd.

Goes to show that even in the same bank things can work out very differently.

[Stilltheone]

That's so funny how you haven't paid in months, not a peep. I go 45 days without a payment and get a notice of intent to accelerate. <shakes head> The kicker is if they ever DID foreclose on me, they wouldn't get a dime b/c I'm so far upside down!

[DebtEnder]

Well today I get the letter saying in 30 days they intend to accelerate. o well serves me right for saying something

[Stilltheone]

I'm sure I will get another intent to accelerate here shortly. They mailed mine out on August 5th, with 2 payments behind. I have since made one payment, but now my July/Aug are behind, so I'm assuming on Sept. 5th, they'll mail another one out...which is fine. On September 10th, my husband gets paid and I will pay it in full.

I just can't believe how desperate they are....45 days late with one payment and they're ready to kick me to the curb.

[Tom_Mi]

I'm confused by "acceleration".

Don't you have a redemption period etc, that you're still entitled to?

or does the redemption period (if you occupy the home) go away on a discharged mortgage?

[DebtEnder]

In this case accelerate mean push up when all funds are due. IE they don't want payments anymore, just the full balance of the loan. Legal process to begin foreclosure.

Redemption is buying back assets that you could not otherwise exempt. In my case I was just hoping for a few months to save a few thousands bucks for an out of state move.

[Stilltheone]

When I received my "intent to accelerate", it basically stated that both payments were due by September 9th or else they will start foreclosure proceedings.

When I called, they told me that if I at least make one payment, then they won't start foreclosure proceedings because then I'm not as far behind as I was when they sent out the letter.

So, I made my June 20th payment and am now late with my July 20th and August 20th, which will both be paid on September 10th. The thing that gets me is with both of those payments, we technically have a 10 day grace period....so if you include the grace period, I am right now not even 30 days late with July's payment.

[DebtEnder]

Man once they get started they don't pull any punches. Got the letter today saying "your property that you live in is about to be foreclosed on, blah blah, in about 60-90 days the property will be transferred to HUD who will NOT allow you to live there. Blah blah. It goes on about possible rental stuff for hardship, wife is pregnant and due in a little over a month but anyways. On the back it then says if you don't leave they will have to start eviction process. Well duh

O well. Still figure I got at least another 3 months. Maybe I can start the new year with a move fun fun.