Posted on 08/20/2011 1:19:15 PM PDT by InvisibleChurch
A 70-year-old woman and her terminally ill husband face losing their home because she paid her mortgage a week early. Sharon Bullington, of New Port Richey, Florida, says that Bank of America has filed to foreclose on her and husband, James, 78. Mrs Bullington said: 'It's like death to me. My husband is bedridden. It's almost more than I can bear.'
The couple moved to Florida 15 years ago after Mr Bullington retired from General Motors in Flint, Michigan.
Their home is now valued at $133,464, though they owe about $177,000. When James became ill, the couple encountered financial difficulties because of high medical bills.
The couple asked Bank of America to modify the loan. The bank told the couple they would have to first officially default on their $1,400-a-month payment.
The Bullingtons did that and entered into the modification plan, which reduced their payment to $916. Mrs Bullington made the January payment on December 23, and the bank accepted the money, according to court records.
(Excerpt) Read more at dailymail.co.uk ...
Looks like BoA just lost a ton of money.
We’re not in America anymore Toto! This is a fascist communist state.
Never, never, never, never, never make a payment over the phone or the internet.
The banks love for you to do this because you have no receipt.
It is up to the bank to decide if they will provide one for you.
If it is not in their interest to do so, they will not.
BofA is a fungus, a blight that should be knocked out.
How do you not get a receipt?
Within seconds I get an email receipt and conformation number.
The home is underwater it seems and 15 years of payments would be half of the original loan plus interest. They owe 177,000 and don’t have insurance to back it up. It would seem as though they never had a plan to take care of this mortgage.
Did you mean "only the internet"? Every bank I've ever dealt with e mails me a receipt right away.
Seems like the banks would be setting themselves up for a massive and painful class action lawsuit.
Their is more to this story. 15 years ago would be breaking even about now.
Yes. I read down to the point it said “Bank of America” and it all became clear. I fired them over a year ago and am SO glad.
I get mine too ASAP. Being a 1099 on some businesses, it’s like garlic to the IRS vampires.
Old Nations Bank that bought BoA’s good name and proceeded to destroy it.
If anyone thinks that the banks sneeze without regulatory approval, they’re kidding themselves.
This “in the month in which it is due” wording comes from the Home Affordable Modification Program’s Trial Period Plan Notice provided to loan servicers by the government:
https://www.hmpadmin.com/portal/programs/borrower.jsp
If anyone should be berated, it’s the government bureaucrats for drafting this idiotic language and for putting the fear of god in the banks about deviating one single iota from the exact parameters of the regulations under which they labor.
My house payment is automatically deducted from my checking account each month, on the due date.
Nations Bank was known for being one of the worst customer service banks.
Their employees are rude and they could give a rats behind if a customer needs help. To much work.
Worst decision the REAL BoA made was to sell to Nations.
You must work at the post office where they NEVER lose anything. How's that job workin' out fer ya, BTW?
“Mrs Bullington said: ‘I just don’t understand why they’re doing this. It looks like they’re out to get us.’ “
It sounds like you do understand.
I’ve been using electronic home banking since before the Internet came along, that is, at least 20 years.
Not once have I had my transaction get lost or the bank claim I didn’t make the payment. Just the opposite. I repeated had a particular mortgage company claim I didn’t make the payment on time and the bank stepped in and corrected the mortgage company painlessly for me every time. Try that with a check in the mail...
When I get home I’m cancelling my BofA accounts.
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