Foreclosure Hamlet

Supporting, Informing & Connecting People in Foreclosure

DID YOU GET BACK YOUR FINAL SIGNED ORIGINAL MODIFICATION ??? IF NOT, PLEASE READ!!!

HERE IS A NEW ONE...

AFTER A HOMEOWNER RAN INTO A PROBLEM, 7 MONTHS AFTER HER SIGNED FINAL MOD WITH BAC, AND THIS IS WHAT I WAS TOLD BY BANK OF AMERICA SERVICING:

UNTIL YOU GET YOUR FINAL MOD, ORIGINAL, SIGNED BY THE BANK, ALL PAYMENTS WILL BE PLACED IN A HOLDING ACCOUNT UNTIL FINALIZED BY THE INVESTORS REVIEW AND FUNDING DEPARTMENT.

SHE SUGGESTED TO LET HOMEOWNERS KNOW, THAT UNLESS THEY GET THIER SIGNED FINAL MODIFICATION BACK FROM THE SERVICER/INVESTOR, HOMEOWNERS MOD IS "NOT" FINALIZED, AND THAT HOMEOWNERS "HAVE TO" FOLLOW UP ON THIS EVERY WEEK UNTIL ITS DONE.

 

I DID SOME RESEARCH AND SPOKE WITH OTHER SERVICERS AS WELL, AND THIS IS WHAT I CAME UP WITH: 

 

IT SEEMS THAT SERVICERS ARE SO BEHIND ON EVERYTHING THAT EVEN A FINAL LOAN MODIFICATION CAN ALSO BE SITTING ON THE BACK BURNER WAITING FOR THE INVESTOR, TRUSTEES TO SEE HOW IT ALL PANS OUT IN THE END. KIND OF LIKE BUILDING A SAFETY NET FOR THEMSELVES.

 

SO, HERE IS HOW IT WORKS. FOR THOSE OF YOU THAT HAVE GOTTEN A FINAL MOD, YOU SIGN 2 ORIGINALS, ONE OF THOSE IS SUPPOSE TO COME BACK TO YOU WITHIN 30 TO 90 DAYS TOPS, IF YOU DONT GET IT BACK, YOU NEED TO CALL AND CALL UNTIL YOU GET IT.  ALSO, WHEN THE MOTION AND HEARING DATE TO DISMISS YOUR FORECLOSURE IS SET, YOU NEED TO SHOW UP IN COURT AND FILE A COPY OF YOUR FINAL MODIFICATION DOCUMENTS WITH THAT DISMISSAL, EVEN IF NOT SIGNED BY THE BANK, SO YOU FILE PENDING THE BANKS SIGNATURE. THIS WILL BE YOUR "ONLY" PROOF THAT THE DISMISSAL WAS DONE BECAUSE YOU AND YOUR SERVICER/INVESTOR/BANK, CAME TO A FINAL MODIFICATION AGREEMENT. THEY ARE ALSO SUPPOSE TO RECORD THE MODIFICATION IN YOUR COUNTY'S COURT. JUST LIKE THEY WOULD A MORTGAGE AND A ASSIGNEMENT. IF NOT, THEN, YOU ARE NOT LEGALLY MODIFIED. NOW IN THE END YOU OR A HIRED ATTORNEY CAN CLAIM BREACH OF CONTRACT, BUT STILL, UNLESS YOU WANT THE HEADACHES TO CONTINUE, PLEASE, PLEASE DO THIS.

 

USUALLY, BANKSTERS ATTORNEYS FILE THE DISMISSAL WITH NO PARTICULAR REASON OR WITH THE OBVIOUS REAL REASON AS TO WHY THE FORECLOSURE ACTION IS BEING DISMISSED. SO THIS IS YOUR ONLY WAY TO MAKE SURE THINGS GET RECORDED THE PROPER WAY WITH THE PROPER INFORMATION.

 

BLESS YOU ALL AND GOOD LUCK.

JEN

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