Bank of America

[Mommyof3boys]

I am sorry to hear about your struggles. I can totally understand your situation having been there myself. Our story is so similar to yours it is amazing! The current status on ours is that when we were actually one week away from our 3rd auction date this last year, BofA called us to see if we would be willing to start a new modification!. We were so shocked because that is what we had been trying to do for over a year! We have since finalized all of our new loan docs and were able to stay in our home. Prayer changes things, because our Father in Heaven loves us more than we can ever imagine. It is amazing where He moves when we surrender it to Him! Sending up prayers for you and your family!

[HisHands]

I will definitely keep you in my prayers. God has taken care of us so many times when the situation was out of our hands. Here is something I always like to remember when I am troubled and worrying about things I should leave up to God. "Fear knocked at the door.....faith answered.....and there was no one there." You did the perfect thing by giving it up and over to God!

[Lotusflower]

The power of prayer is indeed life changing , and my prayers are with you that we see this RV happen by 2-1-12 and you get to pay the mortgage balance in full. I read recently a good quote, "A match instead of a light switch". Sometimes we have to accept we can only see the path for our feet for one day at a time, and be okay with that.

Take Care.

[rvb4jan1]

rvb4jan1......God really does hear us when we lay our problems in his hands!!!! I have another avenue for you also......Have you looked into having your mortgage loan modified?? If you ask your mortgage company, they can't deny you this option but many don't know of it and they sure don't advertise it. I did it approx. one year ago and it saved my life. At that time I was self employed and my business hit the ground....The modification is free to do and it not only lowered my payments, but my interest rate dropped to 2.5% which will increase yearly until it hits the cap and the good part is that the cap will never go above 5.5%. I love it because now I can make extra if I want to or just the new lowered payment....Check into it...You will have to call your mortgage company directly and tell them you want to speak to the loan modification department. They cannot deny you unless those laws have been changed also. It's worth a try cuz it worked for me!!!! Good luck and God Bless!!!

Thank you for your suggestions, B of A offered a non-traditional modification which increased the monthly mortgage payment! Didn't help at all. God Bless You.

[patb1]

I am the Administrator for My Aunts (small estate), her house has been in foreclosure since she passed in 2009,

I cannot afford to purchase the property since it would be investment property and would require Minimum 20% down

so the mortgage company has started sending me letters , about every 3 months (since 2010) each time lowering the amount of settlement that would give her estate Clear title to the property,

Basically it went from the Mid 70s to the Low 20s.

Pretty amazing I know,

3 things here

1 God does answer prayer (if you pray to him for something and then let it go, ) I did and I have and the mortgage company has been very patient.

2 THEY DO NOT WANT most of the properties they are having to foreclose on

3 GO RV, and when it does RV I pray that God will Grant me the wisdom to handle my financial windfall in A prudent manner

[rvb4jan1]

This is great defense; I would also like to say the market in Florida is going to get even worse over the next 5 years; partly because of the HOA laws that where passed in June of 2010; by then governor Charlie Christ; giving the HOA's the power to foreclose and get in front of the first & the second, with really no defense. Our GOP candidates should be addressing how they can fix the housing issue & foreclosures; instead of contraceptives being controlled by the state & gaay marriage rights & god being taken out of everything, from schools, government buildings, prayer, etc.. Jmo.

Lol, MERS is the Beneficiary! However, in order to use that scenario to beat the bank, I need an attorney skilled in RESPA law and evryone one I spoke to charges a minimum $5,000 retainer. So,.......thank you for knowing the inside story on what these banks are doing to homeowners like me. God Bless You, always.

[tampa1000]

Thank God and Amen to that story!!!

[brbrlocke]

God hears our prayers and meets our needs.

God is Good

[rvb4jan1]

I am sorry to hear about your struggles. I can totally understand your situation having been there myself. Our story is so similar to yours it is amazing! The current status on ours is that when we were actually one week away from our 3rd auction date this last year, BofA called us to see if we would be willing to start a new modification!. We were so shocked because that is what we had been trying to do for over a year! We have since finalized all of our new loan docs and were able to stay in our home. Prayer changes things, because our Father in Heaven loves us more than we can ever imagine. It is amazing where He moves when we surrender it to Him! Sending up prayers for you and your family!

What a powerful response! I used to be so afraid to ask God for anything but these past several years have opened my eyes to the amazing power of prayer and how all any of us have to do is ask Him for help. May God continue to bless you and your family..

God hears our prayers and meets our needs.

God is Good

All the time. And, all the time, God is good! Thank you.

The power of prayer is indeed life changing , and my prayers are with you that we see this RV happen by 2-1-12 and you get to pay the mortgage balance in full. I read recently a good quote, "A match instead of a light switch". Sometimes we have to accept we can only see the path for our feet for one day at a time, and be okay with that.

Take Care.

Yes indeed, my thoughts exactly. People choose, God decides. Whatever happens, I know God will take care of me and my family. He always does!!

I will definitely keep you in my prayers. God has taken care of us so many times when the situation was out of our hands. Here is something I always like to remember when I am troubled and worrying about things I should leave up to God. "Fear knocked at the door.....faith answered.....and there was no one there." You did the perfect thing by giving it up and over to God!

Thank you. I had to let it go, or I would be in the hospital from all of the stress. God Bless You.

I can understand your pain , I know you think your property wont sell but you should try anyway and list it with a realtor as a short sale and it will delay the sale. B of A has a program called a cooperative short sale program and if your home sells through the program they could give you up to $20,000 for moving expenses and to get you on your feet ( prehaps with an apartment ) also they will not pursue the deficiency balance on your loan meaning the difference of what you owe on the loan and what it sold for. I know of someone this worked for , his house sold and the bank cut him a check for around $9000, I hope this can maybe help, call the bank and ask about the program you have nothing to loose.

Thank you. I am calling today! God Bless You for sharing that info with me.

I hope that for your sake and many others here this rv comes in time, we just have to keep praying and the lord will protect us, thanks for posting your story.

Thank you for listening. God bless you.

Hang in there good buddy...

We are close to an RV. Our prayers are with you.

Thank you Luigi!. God Bless you.

This is great defense; I would also like to say the market in Florida is going to get even worse over the next 5 years; partly because of the HOA laws that where passed in June of 2010; by then governor Charlie Christ; giving the HOA's the power to foreclose and get in front of the first & the second, with really no defense. Our GOP candidates should be addressing how they can fix the housing issue & foreclosures; instead of contraceptives being controlled by the state & gaay marriage rights & god being taken out of everything, from schools, government buildings, prayer, etc.. Jmo.

I agree. You would think that the light would come on inside some of these politicians' brains and 'saving homeowners would be a priority. I wish Obama had just paid off people's mortgages instead of bailing out the banks. I know that would have made a huge difference! God Bless You.

Keep Your faith and your positive attitude. I feel your pain. I,m reading a great book by Shawn Achor called the "Happiness Advantage" he mentions that virtually all avenues of success are dictated by this thing called an "explanatory style." It's how we evaluate and make sense of what has, is and will happen to us. Not to sound to corny but, You are a child of God and he will never leave or abanded you.

Peace and Love2U

I know it and I thank you. God Bless You.

Amen. Thank you for sharing.

Thank you for listening and God Bless You.

Thanks for sharing. The first of Feb. would be great for a lot of us. Hang in there.

Today would be better, lol!! God Bless You..

I feel your pain. Will have you in my thoughts.

Go RV

Thank you and I really enjoy your posts. You and DinarThug have me crying with laughter!!! God Bless You.

Hi all, I can't stand these big banks, they pay minimum interest on monies that you deposit in their bank accounts but expect people to continue to pay high interest rates for their loans. I know that was what people signed up for, however, the real estate market has tanked. Most honest people realize that yes, I said I would pay this much, however, circumstances have changed, I've lost my job, etc. will you accept a lesser payment. NO SAYS THE BANKS!! WE WILL FORECLOSE AND MAKE YOUR NEIGHBORHOOD WORTH NOTHING. Instead of working with people so that they can stay in their homes, no we want the property. What good does that do to communities, absolutely nothing in MO. People strip their homes and nothing is left but a shell, is the bank making money at this point NO!! There are families in Florida who have lost their homes, who are living in vans and whose children wash up at different gas stations before going to school, all this from the BEST COUNTRY IN THE WORLD? Work with the people, delay the increases in variable rate mortgages, what are we doing?

Yes, a variable rate mortgage should only be done when the borrower is a risk taker and understand the stock market. But this country will sell an adjustable rate mortgage to anyone without thought of the grave consequences for people on a fixed income. Why? Because that type of loan product sells big on the secondary market and can be sold many times. That is why Wall Street crashed. bad loan product backed by worthless securities.

Good luck to you and your family.

I don't remember if I thanked you yesterday but thank you especially if you are in Iraq defending or in support of our way of life. America might be all screwed up, but at least we have the freedom to make mistakes and come back wiser and stronger for the lessons we learned. God Bless You and please be safe.

...My prayers are with you, friend. My 80-yo dad purchased three houses about four years ago when the housing market started the slip & slide in his town. for a while there he could not get anyone interested in renting any of them. Since I was doing all of the adminstrative work on his properties and other investements he has-i challenged him to try renting out the properties, per room-per bed for x amount of dollars per month. Sort of like those sober living houses do it. well, so far so good. we have been able to rent one out to a woman and her brother but the others are roommate housing. it ends up being much cheaper for each renter, everyone splits the responsabilities of maintaining a clean, safe and healthy environment and everyone is happy.

my point being-you may want to consider renting some of your rooms out to stay afloat.

Also, I read somewhere, where divorced couples (some with families) were moving in with each other again just to stay afloat as well...

God Bless

Thank you for suggesting renting out rooms. I will start looking this weekend for suitable tenants. God Bless You.

[machcobra]

What is really sad is a few years ago when banks were loaning to people that could NOT afford the home they were buying but were being told by that very bank, OH don't worry about it, you can't afford it but the prices keep going up and within a year or two your home will have appreciated a lot and worth much more, it is like having a savings account. Sounded good to many and how many here heard just that?

Well in reality these very same banks, took out insurance, betting you will lose your home and they make more money than ever. Not only that they have the backing of the FDIC. This is a total freaking joke what has happened in our Country!

IMO if you are in foreclosure and you get that dreaded letter to move out, spend the money, get an Attorney and ask them to prove they even own your mortgage? My guess is if you financed from the time period of around 2004 to 2008, they cannot. Your loan was shuffled around and put into derivatives. If any thing this may help you stay in your home for months longer while waiting on the proof.

Banks are for the most part, GREEDY SOB's backed by a very faulty system. What ever happened to, if you want to borrow money, give collateral and at least have a job!

Get pisssed America and wake up.

Edited January 13, 2012 by machcobra