I now understand

[Capvin]

To: Mstricer...you may be interested to know that there is hope for us yet. This morning in court I beat Bank of America pretty badly. The Court refused to enter a judgement in their favor and sent us off to Court ordered mediation with the caveat to the bank that if it did not get it resolved that the judge was inclined to throw the entire matter out. With that I think that after more then three years we can probably get the loan reinstated and have the bank eat a lot of the costs that have been built up over the past years.

 

[Chick_In_The_Burbs]

To: Mstricer...you may be interested to know that there is hope for us yet.  This morning in court I beat Bank of America pretty badly.  The Court refused to enter a judgement in their favor and sent us off to Court ordered mediation with the caveat to the bank that if it did not get it resolved that the judge was inclined to throw the entire matter out.  With that I think that after more then three years we can probably get the loan reinstated and have the bank eat a lot of the costs that have been built up over the past years.

Congrats! Sock it to'em!!!

 

[sourland]

To: Mstricer...you may be interested to know that there is hope for us yet. This morning in court I beat Bank of America pretty badly. The Court refused to enter a judgement in their favor and sent us off to Court ordered mediation with the caveat to the bank that if it did not get it resolved that the judge was inclined to throw the entire matter out. With that I think that after more then three years we can probably get the loan reinstated and have the bank eat a lot of the costs that have been built up over the past years.

Well done!

 

[KristyHall]

To: Mstricer...you may be interested to know that there is hope for us yet. This morning in court I beat Bank of America pretty badly. The Court refused to enter a judgement in their favor and sent us off to Court ordered mediation with the caveat to the bank that if it did not get it resolved that the judge was inclined to throw the entire matter out. With that I think that after more then three years we can probably get the loan reinstated and have the bank eat a lot of the costs that have been built up over the past years.

way to go!!!!!!!!!!!!!!! Keep up the good fight!

 

[KristyHall]

Unfortunately too many people go through this. When I volunteered with local crises help centers, I was shocked at how many hard working people were homeless, on aid, or couldn't even get aid. One head of a local shelter said to me " we are all just one day away from loosing everything" It infuriates me how many people blame the victims of such hardships and imply that they did not do everything they can to keep their homes and or credit.

I despise banks, I despise so much of our money now HAS To go through banks. I certainly don
t trust them.This is why I am building my house the way I am. I do not want a mortgage. It takes longer but I am paying as I go and as I can afford it.

First thing you need to do is document everything, names, addresses times, keep your phone records, if it is legal in your state, record your conversations. Any paperwork you send to them, send it registered mail where they have to sign for it and keep the stubs. keep a special folder with everything to do with this including receipts, letters, financial issues, medical issues, etc.

If you can afford it, get a lawyer. Ask around and explain your situation, some lawyers will not charge until after the case, or will ask for payments over a period of time to make it easier on you. Some have been known to go probono if they feel your case is especially egregious.

Go to the media, (if you, unlike me, are not an intensely private person) many news outlets love to talk about how the system abuses the average home owner.

 

[chickened]

The problem on the consumer side is people often want a McMansion when a practical house would suit them fine. People that treated their home like a piggybank are the ones that ruined it for the ones like Don is helping. Banks like BofA are also just as bad. I also try to borrow from people I know and that trust me and will work with me when I am in hard times.

Congrats Don on a good job well done.

 

[mstricer]

To: Mstricer...you may be interested to know that there is hope for us yet. This morning in court I beat Bank of America pretty badly. The Court refused to enter a judgment in their favor and sent us off to Court ordered mediation with the caveat to the bank that if it did not get it resolved that the judge was inclined to throw the entire matter out. With that I think that after more then three years we can probably get the loan reinstated and have the bank eat a lot of the costs that have been built up over the past years.

Nice, I am so glad you are winning this thing. I spoke to the agent involved with my case today and she told me technically, since I made one payment yesterday, that as long as you are under 60 days you are in compliance and that if I fill out a bunch of paper work, it will go to underwriter and they will make a decision on it and whether we can defer the payments, well by the time that, I will be caught up. I cashed in some stock options (I was saving for a rainy day, it's pouring) and the hubby is taking any OT he can snatch up. I will be able to make another payment on Friday and then Decembers payment will get paid a little late. Then they will hound me for late fees which shouldn't be too hard, they send back late fee's if you are behind, which now I have to go and find the checks they sent back and send it to them. Personally, I think Bank of America is a crocked company. They make it extremely hard to contact your rep. they set up those appts. if you miss it because you were a second late picking up, then they can't transfer you to them, What the heck, you ask them for them their phone number and they give you the main # and then you have to set a 2 hour wait appointment. I am just going to catch up, instead of going through the hassle of the paper work for hardship. It will take longer and you will still owe the 3 payments at once...I personally could not come up with close to 3000$ in one shot. That is more then we make in a month.

 

[mstricer]

The problem on the consumer side is people often want a McMansion when a practical house would suit them fine. People that treated their home like a piggybank are the ones that ruined it for the ones like Don is helping. Banks like BofA are also just as bad. I also try to borrow from people I know and that trust me and will work with me when I am in hard times.

Congrats Don on a good job well done.

I don't live in a McMansion, when we got pre-approved for the loan, they told us we could be approved for 250,000$ house....We were smarter than, they were, and knew what there was no way would be able to afford that, we had already figured out how much of a house we wanted which was no more than 130,000$ big difference from what they said, our McMansion cost 126,000$ for a modest 2 bedroom bi-level on about 2 acres. I won't be borrowing from anyone, that is just one more person I will owe. If anything we will borrow from our 401K, which will come out of our pay check. Not all of us were dumb enough to believe what the bank was telling us.
People that treated their home like a piggybank are the ones that ruined it for the ones like Don is helping. I don't understand what you mean.

 

[Chick_In_The_Burbs]

I don't live in a McMansion, when we got pre-approved for the loan, they told us we could be approved for 250,000$ house....We were smarter than, they were, and knew what there was no way would be able to afford that, we had already figured out how much of a house we wanted which was no more than 130,000$ big difference from what they said, our McMansion cost 126,000$ for a modest 2 bedroom bi-level on about 2 acres. I won't be borrowing from anyone, that is just one more person I will owe. If anything we will borrow from our 401K, which will come out of our pay check. Not all of us were dumb enough to believe what the bank was telling us. People that treated their home like a piggybank are the ones that ruined it for the ones like Don is helping. I don't understand what you mean.

I think he means the people who would take their original loan, then turn around and get a home equity loan and play games like that presuming that their home would just keep gaining value and cover all the borrowing in the end. I have a family member who did that. Could have paid off he house years ago if there hadn't been multiple refi's and whatnot.

 

[hemet dennis]

People that treated their home like a piggybank are the ones that ruined it for the ones like Don is helping. I don't understand what you mean.

A lot of people refinanced their homes when the values went up and took money out for boats vacations or other toys.