70 years old pay mortgage too early, faces foreclosure from Bank Of America

you'd be surprised by what happens on the customer service side of things.

reply to post by illuminatislave


I'm sure they had staff meetings where they developed a conspiracy against this old woman to lose her home. Silly me why didn't I realize that.

reply to post by illuminatislave


CIA... Nothing surprises me these days. Every where we turn, every word we hear seems to be an extension of someone's agenda through subliminal manipulation. Sometimes I reminisce on my youthful days of ignorant bliss for then there was only wonder and beauty all around. At least I have that memory even though it has since been tortured into forlorn dreams waning in the shadows. Thy beating heart never sleeps as it listens to the sounds of all that is good and all that is not... I have found a truth and it is a truth by more than one, in this dimension we no longer belong. Hhhmmm I kid you not !

Listen the same c-suckers that threatening to take this womans house got a government bail out cause they SCREWED UP,so why not give her a chance.


If you don't like that analogy of well.

I learned the hard way not to use credit at all. It is hard when it comes to a mortgage on a house though. The funny thing about this is we all pay for the scammers and criminals who defraud companies weather it is insurance, credit, government assistance like medical fraud. Looks like she made a legitimate mistake and from what i have heard the first time they overlook these kinds of errors...even still she should get another chance.

reply to post by kro32

From what I can gather from researching the story:

High unexpected medical bills caused the couple to have a financial crisis. That is beyond anyone's control. Up to this point, they had a perfect payment history.

Rather than defaulting, they asked BoA for a mortgage readjustment, not an unusual request. BoA told them to default so they could start the paperwork on a Federal readjustment program. They held the payment, the readjustment was approved, and they immediately made the first payment in December, which should have been applied to their January payment under the contract. This payment was accepted by the bank.

In February, an error was made during the payment process. This error resulted in the payment not going through. No one alerted the payee of the error; it was discovered through diligent attention to their account balance.

Default was declared before the payment could be made, partially in the basis that the January payment was made in December. This is a case of the computer not having any common sense; the computer did not apply the payment as being made early in the payment history file, because the months did not match.

Attempts to make the February payment have been refused.

Now considering that you apparently believe this elderly couple should lose their house over a bank computer error combined with an unknown error on entering a number, I am guessing you are either a very cruel person or a very young person. Giving you the benefit of the doubt that it is the latter, I hope and pray that you never are forced into a situation where your entire life's work, health, and peace of mind are ripped away because you were overly diligent and missed hitting one key. Most of us are not perfect; we make minor mistakes which are correctable. They are called 'typos', and I personally could never consider severe punishment for a 'typo'.

If I ever did, karma has this way of coming back at you later with a vengeance.

TheRedneck

When companies like this do not have enough common sense to resolve an error in payment in a reasonable way it is no surprise things are a mess. To some how consider that the disruption caused by 1 week of payments is equal to the value of the home contains no logic or fairness. Considering how 9/11 can go on for so long unresolved of truth it does portray this perverted sense of justice where power is valued over social cohesion.

sounds like crow32 has a chip on his shoulder?

Surround the bankers houses, they will notice.

Simple eh?

If they dont, set them on fire.

Isnt that how they did it with castles?

reply to post by kro32

I'm sure they had staff meetings where they developed a conspiracy against this old woman to lose her home. Silly me why didn't I realize that.

No one has said that was the case. BoA has a history (as does CitiBank) of a serious lack of customer service and total disregard of their own liability when errors arise. This is simply a result of that.

Incidentally, you should have either a semicolon or at least a colon between the words "me" and "why" in the above quote. If you really believe that errors should be punished so severely, you should now go quit your job, execute a quick-claim deed giving your home to the mortgage holder, and live on the street. My position is that, what the hey, you missed a punctuation mark. No harm no foul, don't mention it.

I like my position better, and if the truth be known, I would bet you do too.

TheRedneck

The rules this woman had to follow were very simple. The fact that she did not verify that the payment went through and just assumed it was done correctly, especially with her house on the line shows that she wasn't very diligent at all.

I'm assuming this payment would be deducted relatively quickly from her account which she apparantly did not bother checking till long after the fact. She has no one to blame but her own laziness.

I just find it ironic that this woman can get lawyer, make all these phone calls now but the day after she made the payment she couldn't look at her bank account and call the company and say "I made a payment yesterday so why is the money still in my account?"

Instead she doesn't notice it for weeks? Sorry but she's a grown woman and it's nobody's responsibility to keep track of her.

reply to post by kro32

Financial payments are not immediately reported. It is common to be told to wait two to three weeks to verify a payment is not processed before making a report.

TheRedneck

reply to post by TheRedneck


Never have I run across that but regardless she could have recieved confirmation from the bank that indeed the payment was authorized and just not processed yet which she did not do.

more tyranny by bankers

reply to post by kro32

Apparently that is exactly what she did. The bank declared her in default before the situation could be resolved, partly because the computer logged a payment made a month early as being delinquent.

TheRedneck

reply to post by TheRedneck


If there is any discrepancy on the part of the bank than of course this should be reversed and the situation put back to normal. If the only problem is that she did not make her payment on time for entering the wrong number and not verifying it than she should lose her house.

Not much more I can add beyond that other than I hope it works out for her.

This is a sad story! It truly makes my stomach turn. All of this over a simple computer glitch or clerical error? I will never do business with these callous behemoth banks. We have seen how they conduct business, and customer service. This is not an isolated incident by any stretch of the word, but widespread poor behavior by the Big Banks.

This couple have never missed a payment, and now because of a mistake on the banks end they have worry about getting thrown out on the street? Hopefully, they can get this settled in court before the inevitable happens. Furthermore, they had ought to file a civil suit against the bank and immediately work to get their loan off the books of Bank of America. Take it to another reputable financial institution. This whole situation is insane, and for the life of me I cannot understand why the bank is dragging their feet on this issue? As one consolation for this couple, BOA is having troubles of its own as well. As of late, their stocks are falling off the cliff, and they are facing litigation from American International Group for billions in fraud.

Bank of America stock plunges 20%

Bank of America shares plunged 20% Monday, fueled in part by a steep selloff in the broader market and news that insurer American International Group is suing it for billions of dollars over alleged mortgage securities fraud.

What goes around comes around? So much for being to big to fail? One way or another the markets sort things out. That may be the case with the recent financial woes being experienced by BOA? BOA is also slashing jobs as well. To the tune of over 3000.

Bank of America to cut 3,500 jobs

Bank of America, the nation's largest bank, plans to eliminate 3,500 jobs during the third quarter, part of a broader effort to cut costs at the bank, whose stock has fallen more than 50 percent since January. The bank has already cut 2,500 jobs this year.

Muscling the little guy has its consequences. Apparently, we are seeing a behemoth wobble under its own weight? Hopefully, there will be no more government intervention and the economic correction that was supposed to take place in 2008 is allowed to take its course? My hope is that this couple is allowed to remain in their home, and a deal can be met. This whole case is ridiculous!

It sounds like someone is living outside of their means.

She should not have had a $1,400 mortgage if you cannot afford it. I have to agree with kro on this one.......Why could'nt she had a smaller house with a smaller payment? Crying becase you cannot afford a $1,400 payment I do not feel sorry for her. Sorry