Bank of America & Taylor Bean and Whitaker mortgage company Four Years of Hell - and still no resolution Springfield Oregon

 In March of 2007, I refinanced my primary residence, paid off Chase Bank, and obtained a mortgage

from Taylor, Bean & Whitaker Mortgage Corp. I entered into an accelerated payment plan wherein TBW

withdrew ½ of my monthly mortgage payment every two weeks from my checking account. The last

automatic transfer was taken from my account in July of 2009.

In August of 2009, I went on an extended business trip and when I returned in mid-September I received

a letter from Bank of America saying I was in default on my mortgage and they were going to initiate

foreclosure proceedings if payment wasn’t received within 10 days of the letter. I received the letter

two days after the ten day deadline. I immediately called the number listed in the letter for BOA and

was told that this notice was sent in error. I was informed that BOA purchased the assets of TBW

and CountryWide Financial but how that impacted upon my particular loan was unknown and BOA could not accept

payment from me until they determined whether they actually owned my mortgage or not. They

recommended I make deposits into a personal account and hold it until the investigation was complete.

I received letters from BOA informing me that my account was delinquent and they were going to

initiate foreclosure proceedings in both October and November of 2009. I called BOA both months and

attempted to make payments but was informed on both occasions that they could not accept payment

from me.

In November of 2009, I spoke with an attorney for BOA who informed me that this situation could

potentially take years to resolve and recommended that I seek personal legal advice. I consulted with an

attorney who advised me that this would likely require a lawsuit to quiet title to the property and could

be very expensive. He also suggested that since I was upside down on the mortgage, I offer to give up

any interest I had in the property in exchange for any future claim.

I eventually negotiated an agreement ( I thought) with BOA where I agreed to provide them with a quitclaim deed

to the property. I signed the deed and returned it to them in May of 2010. In September of 2010,

I received a trustee’s notice of sale saying ReconTrust was going to sell the property in February of

2011. I lost my job in December of 2010 and became unemployed on January 1, 2011. The sale was

subsequently postponed to April of 2011, then August of 2011, and then it just disappeared from

ReconTrust’s website. I continued to live in the residence until October of 2011 when I relocated to

Portland for my new job. I notified BOA that I was moving out and the house would be vacant.

I was unemployed from January of 2011 until November of 2011. As a result of my extended

unemployment I filed for a chapter 13 bankruptcy in June of 2012. My credit report did not show any

record of the BOA mortgage but the quitclaim deed had not been recorded and the County deed records

still reflected that I owned the property. My attorney was adamant that I needed to list Bank of America

as a secured creditor on schedule A of the bankruptcy and so I did.

Attorneys for BOA requested a written confirmation that I had moved out and was surrendering the

property to them. We provided them with the confirmation and they then filed a motion for relief

from the automatic stay. We did not oppose the motion and it was granted in September of 2012. The

chapter 13 plan was confirmed in October of 2012.

In May of 2013, I received a call from a reporter asking me about a fire at the property. I discovered

that squatters had moved in and set fire to the property. I notified BOA and was told I needed to file

a claim with the insurance company BOA had taken a policy out with. They provided me with the

contact information and I filed a report. I received an insurance settlement check in June of 2013 for

the amount of $106,396.77 made payable to my ex-wife, myself, and BAC home loan. Both my ex-wife

and I endorsed the check. I have called several different people at BOA during the last five months and

everyone says they cannot accept the check, nor can they endorse the check so we can get the house

repaired.

In August of 2013, my new wife and I talked with a mortgage broker about buying a home. We disclosed

the BOA situation and the bankruptcy. He pulled credit and verified that BOA had never reported the

loan to any reporting agency. He then issued a pre-approval letter for a VA loan with the understanding

that we would need to get approval from the bankruptcy court to make the purchase.

We made an offer on a house and it was accepted. The closing date was set for Sept 25, 2013. Notices

were sent to my creditors and no one objected. The bankruptcy judge signed an order allowing the

purchase of the property.

During the underwriting process, it was discovered that BOA had reported the loan as delinquent to

FHA and therefore my SSAN was flagged in CAIVRS. The CAIVRS flag meant that I was ineligleble for any

federal loan program. The underwriter sent a request for waiver due to extenuating circumstances

to HUD and we received a written response back from Mr. Jim Sorrentino on Sept 24th

had confirmed with the Albany processing center that the CAIVRS would be automatically cleared on

October 1st.  The CAIVRS was not cleared on Oct 1st and since the government was closed down we could

not reach anyone to clear this up. Once the government shutdown was ended we received another

response from Mr. Sorrentino saying that since BOA was reporting the mortgage as actively delinquent

there was nothing they could do to clear the alert.

We both, lost the house and incurred a financial loss as a result of this. During the last few weeks I’ve

had multiple conversations with BOA people. The first person informed me he was my account manager

and that he’d put in a request for review and someone would contact us within 7 – 10 days.

I informed him I’d been told this before and he said that if someone didn’t call me back I could call him

back and he’d submit another request for review.

I eventually received a call from a Falisha Ward in the short sale department who informed me that I

was not eligible for a short sale since my credit score was too high. She referred me to customer service

who informed me that I could not do a deed in lieu of foreclosure until after I had attempted to do a

short sale. I explained that the house burned down so there really wasn’t anything to sell other than

a burned out shell and the land. I also explained that my credit score was over 620 which apparently

means I can’t do a short sale. According to the customer service rep (Kevin) the reason BOA is not

reporting the loan as delinquent to the credit reporting agencies is that the file is marked as paid in full

and closed. However, there is a separate FHA file which reflects the loan as being delinquent.

Four years now and no closer to getting anything resolved.  BOA won't close the case and file a claim with FHA, We can't buy another house until they do, and our former neighbors are left with a burned out house bringing down property values.