My story is typical of many it seems. I lost my good paying job of 25 years in August of 2009. I served the printing industry and since about 2006-07 we started to see a slow, and by August of 2008, most of my sale opportunities one by one closed or met with such a decline in business that they where no longer prospects. By the beginning of 2009, commerce in printing equipment had stopped. My wife was also running a successful restaurant/deli, or at least successful up until gas prices shot up and then the November 2008 crash. Sales dropped as our customer base lost jobs, had hours cut and so on. The business went from a robust $33,000 montly revenue to barley squeaking $10,000 by January of 2009. Needless to say we where in a pickle as my income had gone from and average $120,000 yearly to unemployment.
So the first thing I did when I lost my job is call Bank of America to make them aware of my situation. BAC indicated that they had no programs for borrowers who where in good standing. And that they could not help me until I was in default. So the next month I defaulted (Oct. 08). Then for the next 8 months I ran on the Hampster Wheel of sending and resending my documentation. BAC lost my docs, then found them, but by the time they found them they where outdated and so on. So I would resend. The also approved me verbally for a couple modified payments, but would not support the offer in writing. They requested I send the modified payment immediatey, but I refused until they supported the mod in writing. They did not.
Then one day out of the blue in February 2009. I received a congrats letter and a new payment and a bunch of papers to sign. To my suprise, when I reviewed the documents, the payment was actually higher than before I defaulted. Not a modification at all. I phoned BAC and one person was unaware of the mod being offered, the next said the mod was still pending etc.
The whole 8 months of this was just a circus of lost papers, noone at BAC working from the same playbook. Hours and hours of phone time with nothing to really show. And in not one instance was I able to create a paper trail of my conversations, BAC offers, lost documents or anything. Not one person I talked to at BAC had the ability to send an email or letter to confirm anything we discussed. I even went to local Bank of America branches for support, but they where as confused as I.
So now its May of 2010 and I have not mad a payment since October 2009. In all this time I hear very little from BAC. Maybe they called me twice. All the call where initiated by me. So come May, I received the ACT 91/6 HEMAP stuff. I perform as indicated, meet with counsuler, apply for PHFA loan and wait. Now according to HEMAP, BAC must wait a full 120 days (roughly) before filing the Foreclosure, but they didn't. They filed in July using the Philadelphia firm of McCabe, Weisberg, Conway. They filed two months too soon. I phoned this lawfirm every day until they withdrew the foreclosure. The day they withdrew the foreclosure, they file an assignment of Mortgage at the Recorder of Deeds in Montgomery County Pennsylvania.
BAC has not refiled the Foreclosure. It has been 16 months since I made a payment. I never set out to be a strategic defaulter. I simply did what the bank suggested I do to get a mortgage modification.
I have since learning that the BAC Assignment of Mortgage was signed by Michael L Prindle, VP and Attested By Tiaquanda Turner, VP. Both these names have been circulated as robo-signers. Michael L Prindle signed as a nominee for ETrade who according to the Mortgage, was the original lender. This is looking like Assignment Fraud.
I have sinced highered a lawyer to work with BAC. Neither he nor I hear much from BAC since we sent a Qualified Written Request in search of stuff. BAC has not responded to the request. They have not supplied the Allonge for the Assignments. Nor have they supplied a the Promissory Note with Collatoral File. They have also neglected to supply the owner of the obligation, address and so on. My cases appears to have gone quiet.
About every 4 weeks I get two identical FedX packages from BAC requesting my documentation again? They never call, just send these out of the blue FedX's.
If they are unable to foreclose for lack of Standing. I guess there is little chance they can modify without Standing either.
What a mess they have made.
Redemtion of sorts in not paying I guess. If this goes on for much longer, I guess I file to Quiet Title and see what happens.