Hundreds rally at Bank of America to stop home foreclosures

[billyoc]

CHICAGO – Elia Santana lives here on the southwest side with her husband, four children and mother. In January 2008 Santana’s father passed away putting an emotional and financial strain on her family. The Santana family was unable to make payments on their mortgage and became two months overdue.

Santana tried several times to contact Countrywide, their loan department to resolve the situation. They said someone would contact her soon. After waiting for a month with no reply, Santana called back and continued to get no additional information.

Frustrated, Santana went to the nearest Neighborhood Housing Services (NHS) of Chicago where a counselor was finally able to access Countrywide personnel.

After four months working with Countrywide a Partial Claim was offered to make up for missed payments. At one point Santana had to resubmit paperwork, which took weeks to prepare because she was missing the middle initial from her signature. The negotiations took so long, in fact due to lost documents, missing faxes, and staff turnover on the part of Countrywide, that the Partial Claim offer had expired.

...

http://www.pww.org/article/view/15676/

[izquierdista]

1. Thus the reason for cramdowns

It is not enough to just urge banks to listen. They must be forced to accept new terms set by an impartial third party (the judge).

[pnutbutr]

4. I want new terms

with that nice looking 2% interest rate I keep hearing about even though I have been paying on time. If the banks write up new terms for people in risk of foreclosure they need to apply it across the board to all loan holders. Why should those who have been responsible and been able to pay be overlooked? I've struggled all my life with high interest rates and being denied credit due to my financial situation. I think spreading the help to more people would be a great way to boost the economy by reducing mortgage payments allowing more people to have more money to spend.

[izquierdista]

5. Why don't you go read some "Left Behind" books

[teenagebambam]

2. Good luck. Bank of America is the devil.

I saw trouble brewing with my ability to pay my mortgage last SEPTEMBER and started trying to talk to Bank of America, who services my loan. They wouldn't even discuss it with me because I was not yet delinquent.

So in January I stopped paying, seeing as how that was the only way to get someone on the other end of the phone.

My house has been on the market for two years, and now has a contract for a short sale that was written March FIRST. BoA finally acknowledged receipt of all necessary materials after three weeks and re-faxing SIX TIMES. They will respond to the short sale offer "when we get to it", despite the fact that the offer officially expired 21 days after being written.

NOW they are calling telling me they can maybe re-work my loan so I can keep the house, which is what I wanted to do when I called them last September....but they won't even run theoretical numbers for me unless I cancel ALL short-sale negotiations.

[Greyhound]

3. Not the Devil, just business as usual.

Born in crime and continuing to engage in criminal activity for it's entire existence, it has grown to become one of the largest parasites on earth, largely through political protection provided by the numerous "representatives" it owns.