Bank of America Halts Foreclosures in All 50 States

[tobee43]

My mortgages weren't with the lenders who have halted foreclosures, but it was amazing to see the exact clockwork precision that the mortgage lenders went about lifting the stay and then going through the foreclosure process. They did things as soon as they could without delay. I always wondered how could they keep on top of all these filings and still file everything so promptly; with these robo signers I can see how it happened. This foreclosure precision is in sharp contract with the way they dealt with my short sell proposal. There was delay after delay, sending the same documents multiple times, and no one knew what was going on. In my case I was finally able to have them agree to a short sell, but this was 15 months after my initial request. But in the end it I didn't care much about the short sell since their delay caused me to file bk.

red...yes, it appears, perhaps that they foreclosured prior to all this mess starting. so you were lucky as far as i am concerned to get it done and over with already!!

good luck to you...can you throw some my way please!

[redhunter]

My mortgages weren't with the lenders who have halted foreclosures, but it was amazing to see the exact clockwork precision that the mortgage lenders went about lifting the stay and then going through the foreclosure process. They did things as soon as they could without delay. I always wondered how could they keep on top of all these filings and still file everything so promptly; with these robo signers I can see how it happened. This foreclosure precision is in sharp contract with the way they dealt with my short sell proposal. There was delay after delay, sending the same documents multiple times, and no one knew what was going on. In my case I was finally able to have them agree to a short sell, but this was 15 months after my initial request. But in the end it I didn't care much about the short sell since their delay caused me to file bk.

[ozarkmiss]

LOL I feel absolutely NO guilt. I have been trying to do a workout since July 2009, before I had a single late. They made me wait until I missed a payment. That was in October. They lost my documents and switched negotiators so many times that I just gave up. Not to mention that my house in now $40K underwater. Not worth it!

This is identical to our situation. Underwater 44k. Tried endlessly to seek relief while current -in 09 when hubs lost job. What a waste of time. Meanwhile I got buried deeper in debt / spent savings to stay current on the blood oath that is a mortgage note. A partner in our atty firm really wants to litigate the FC proceedings on our walked away house. Am not convinced it's worth it.

(I don't think a mortgage is a blood oath any longer. Stopped paying in May - sure the house has started to erode.
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[tobee43]

No, we plan on staying for the time being. We have 3 kids and just aren't willing to rent an apartment. We're basically renting our home, but at least we get a home out of the deal!

oh! then that makes sense. we knew we were going to leave there.

[Stilltheone]

well if you KNOW for your certain you are going leave, i just wouldn't pay. but if you plan on staying then it's worth it.

i know there different ways of thinking about this. but i just can't see you wasting money if you plan on leaving in the future. i would just bank the payment for your moving date.

No, we plan on staying for the time being. We have 3 kids and just aren't willing to rent an apartment. We're basically renting our home, but at least we get a home out of the deal!

[tobee43]

I keep paying mine....and BOA has my SECOND mortgage, which, if I stopped paying, they wouldn't get a single red cent because I am so far upside down. BUT, I love my house and am not willing to take that chance of losing it right now!

well if you KNOW for your certain you are going leave, i just wouldn't pay. but if you plan on staying then it's worth it.

i know there different ways of thinking about this. but i just can't see you wasting money if you plan on leaving in the future. i would just bank the payment for your moving date.

[Stilltheone]

I feel dumb for continuing to pay my discharged, non re-affirmed "mortgage" with BofA each month. We are still flat broke because of this mortgage (aka rent payment), but we continue to pay because it the "right thing to do." How dumb am I? I could be pocketing this money and living here rent free for months & months and MAYBE just MAYBE I'd have a savings account and be able to sleep in peace at night...... but NO !!!! I pay it. How dumb am I ? I feel pretty dumb about it .....

I keep paying mine....and BOA has my SECOND mortgage, which, if I stopped paying, they wouldn't get a single red cent because I am so far upside down. BUT, I love my house and am not willing to take that chance of losing it right now!

[tobee43]

What we were told is we couldn't include the payments of the things that we were giving up in bankruptcy. So couldn't include house....credit cards....We were told this by different attorneys. We needed to file. But it worked out. We found a beautiful home that was $800 less than what the bank wanted for the house that we own. Go figure.

that's great you found a nice place we did too!! actually we are so much happier now

....but our atty DID in fact count the old mortgage amount!!! and, are you sitting.....the cc's too....i remember the firm went back and fro with the trustees office and the trustee kept saying you have to PUT the cc's payments disposal income....the firm kept arguing well then if they didn't have the mortgage and cc's they wouldn't be here and of course look beautiful on paper....

i have no idea how they did it, but somehow the firm got the mortgage taken off...but i think they counted the cc's...we were well under the means then.

[tanya0525]

we heard the bank also changed the locks on our old place also...but don't know about any of the signs ...we had posted about 10 before we left.

also...what do you mean they didn't count your mortgage payment on your means test....?????they did with ours because that's the payment we couldn't make????

it's so odd how in one place something counts towards the means and in other places you cannot put it in....i.e. UI....it's really confusing for many.

What we were told is we couldn't include the payments of the things that we were giving up in bankruptcy. So couldn't include house....credit cards....We were told this by different attorneys. We needed to file. But it worked out. We found a beautiful home that was $800 less than what the bank wanted for the house that we own. Go figure.

[tobee43]

I forgot to mention that the bank had changed the locks on the house. They also placed a vacancy/no trespassing sign on door. That's all that had happen.

we heard the bank also changed the locks on our old place also...but don't know about any of the signs ...we had posted about 10 before we left.

also...what do you mean they didn't count your mortgage payment on your means test....?????they did with ours because that's the payment we couldn't make????

it's so odd how in one place something counts towards the means and in other places you cannot put it in....i.e. UI....it's really confusing for many.

[tanya0525]

Because we were giving up our home. By not having a housing payment we didn't qualify for chapter 7. It looked like we had disposable income. We back and forth over this. We couldn't pass the means test without including a house payment.

I forgot to mention that the bank had changed the locks on the house. They also placed a vacancy/no trespassing sign on door. That's all that had happen.

[tobee43]

Oh wow - my house is in WA State as well and I'm only on one full year of non-payment. Ugh! I requested a Deed-in-Lieu and BOFA won't do it unless I try a short sale first. Not gonna happen.

it would be a warranty deed not a deed in lieu... (deeds in lieu) which does not clear title...and NOPE..i'm been trying with chase forever and day and they will not budge!!!

looks like this county is in stale mate until the banks fix all these problems.

[tobee43]

So what does this mean? BOA just filed foreclosure on my house on 9/28/10. I haven't been served yet, but a writ was issued on Tuesday. I am 12 months behind. Will the case proceed as usual?

Joe's correct...we were served by chase 2 years ago....and it still hasn't gone through. so just because they filed it doesn't mean it will proceed...and now that they have temporarily stopped foreclosures everywhere until these paper trails get straighten out, it just going to buy you more time.

[tanya0525]

Oh wow - my house is in WA State as well and I'm only on one full year of non-payment. Ugh! I requested a Deed-in-Lieu and BOFA won't do it unless I try a short sale first. Not gonna happen.

Our loan was with Countrywide. Then BOFA took over. The whole reason we filed is because of the house. It drives us nuts because we still get statements in the mail. My husband said someone called him regarding payment options WTH!!! We have called..sent letters...nothing. We stopped paying our sewer bill when we moved out. We got a letter from them stating about foreclose. Heck that was 6 months ago. I would like to buy a house again...someday. At this rate, it may be in our next lifetime.

[hedgecat]

Our last payment was October 2008. We moved out july 2009 when we filed BK..couldnt file 7 unless. Still nothing...I'm so flipping pissed off by this.

Oh wow - my house is in WA State as well and I'm only on one full year of non-payment. Ugh! I requested a Deed-in-Lieu and BOFA won't do it unless I try a short sale first. Not gonna happen.