I have been a mortgage-holder with Bank of America Mortgage for approximately 15 years. In May, 2005, at the suggestion of their website, I contacted them to let them know that I was in the process of applying for SSDI, and that I could not make my mortgage payment. They asked when I would be able to make my payment. I told them that I did not know, because I didn't know how long the SSDI process would take. They told me not to worry about it; to contact them when I had an answer from SSDI.
The middle of July, 2005, I contacted them again, because I was concerned about my mortgage, and asked what my options might be. They told me they would send me a "loss mitigation form" to fill out and file. Three weeks later, I received a form. I filled it out, along with all of their required paperwork, and mailed it to them on August 8, 2005.
On August 16th, I received a letter from them dated August 11, 2005:
We are writing to inform you that the above referenced loan is being referred to our legal counsel to initiate foreclosure proceedings.
You may still be able to avoid foreclosure by paying the total due including attorney's fees and costs. Or, you may qualify for one of several programs available to help you avoid foreclosure (referred to as a "loan workout".
Please be aware that foreclosure action will continue while you loan is under review for a loan workout..
On the same day, I received a letter from a local attorney stating that they have been retained to collect the debt stated.
I received a letter dated August 24, 2005 stating, "that they received my request for assistance with an alternative to foreclosure. A loss mitigation specialist will contact you after review of your application for assistance. While your loan is under review, collection activity, including initiation of foreclosure will continue on your loan.
On September 7, 2005, I was served a "Petition for Mortage Foreclosure and Receiver", stating that BOA "has elected foreclosure without redemption".
I have yet to hear from their "loss mitigation" department regarding my request for a "loan workout".
Des Moines, Iowa