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

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posted on Aug, 20 2011 @ 11:59 AM
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reply to post by kro32
 


Wow,
I was just wondering what its like...... being perfect.
Come on though are you seriously saying that if you were the same age as her, maybe the old memory is not what it was, and you made the same mistake, you would stand back and let them take your home.
No, its ok, I made a mistake, I deserve this......... really?




posted on Aug, 20 2011 @ 12:03 PM
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reply to post by kro32

What confuses me (and this is not disputed by BoA) is that apparently she had to enter her routing number. This is so commonly mis-entered by people that most direct-deposit forms for new hires demand that the employee include a blank voided check so the routing number can be entered and double-checked by the company. Yet, BoA apparently has no such verification on their phone payment plan, meaning that they are complicit in increasing the chance that such an error can occur.

I would simply expect the bank to send a notification of the problem before foreclosing, or at least be willing to listen to the customer should the foreclosure process start.

As for a delay in notification of a problem, BoA is apparently claiming the January payment made and accepted earlier in December, is the reason foreclosure started when it did. You keep saying the woman should have been more diligent in realizing and informing that there was a problem; does BoA have any responsibility to do the same? Because apparently they never notified her that the January payment was recorded as delinquent until after they started foreclosure...

That due diligence thing runs both directions IMO.

TheRedneck



posted on Aug, 20 2011 @ 12:04 PM
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reply to post by daydoesez
 


If I enter into an agreement knowing the consequence and I don't fulfull my obligation then yes I will accept the punishment.



posted on Aug, 20 2011 @ 12:09 PM
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reply to post by liejunkie01

If you read the story, her husband was striken with illness and they encountered some huge unexpected medical bills. Which, incidentally, they were trying to pay...

That doesn't sound like deadbeats to me. Sometimes bad things happen to good people.

TheRedneck



posted on Aug, 20 2011 @ 12:09 PM
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reply to post by TheRedneck
 


Well a good example is that I noticed more money in my bank account than should have been there once. Upon asking my wife about this she said she didn't make a credit card payment because she hadn't recieved the bill yet. I said to her that it needs to be paid the same time every month.

She said that since we make double payments they must have just taken that double payment and applied it to the current month. After kicking my dog I politely asked her if she had taken the time to double check that with the card company. She didn't and our payment was late.

I didn't hold them responsible because we weren't notified as I knew what my responsibility is and this was clearly my fault for missing the payment. Had I sent the payment in and they received it yet didn't credit my account it would have been their fault.



posted on Aug, 20 2011 @ 12:13 PM
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reply to post by kro32
 


Fair enough.
I really do hope you never have to stand by that statement.
I'm going through the same thing at the moment with my mortgage lender and i think The Redneck is right, it does go both ways.
Mine seems to make up the rules as it goes along.



posted on Aug, 20 2011 @ 12:13 PM
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reply to post by TheRedneck
 


As I stated earlier, if the bank did anything that would apply any of the blame to them than of course this woman should not lose her home. I hate banks as much as the next person but I also don't villafy them when they aren't at fault.



posted on Aug, 20 2011 @ 12:35 PM
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reply to post by kro32

I agree with that assessment. If the bank were not so complicit in this, I would be on your side. Many years ago, in a rush, I sent an unsigned check to the power company. A week later I got a notice of non-payment. My first thought was that the payment was lost in the mail, but when I called I found out I had made a mistake.

I apologized and paid it; it cost me a late fee.

Now, assume that they had not sent me the notification. I would not have known that there was a problem until I checked my account. The bill was small enough at the time as to have not been that noticeable compared to my balance. Without knowing there was a problem, I would not have concerned myself with it. I simply do not have the time (nor the inclination) to worry incessantly about making sure everyone I wrote a check to has managed to cash that check in the time span I expect them to.

Now compare that with my last experience with Dish Network (which I alluded to earlier in this thread). I called to make a payment, one which I could barely afford at the time (I was in pretty bad financial straits at the time). The person I spoke with took my information and accepted my payment. A week later I had no signal and called to see what the problem was, and was told I had been turned off for non-payment.

I should explain here that my basic bill was paid on a yearly basis; the only thing paid monthly was a couple of premium channels.

I explained that the payment had been made, and I apologized for the problem. When I tried to make a payment again, it was refused by my bank. I called the bank and found out the reason I didn't have enough funds was that they had already frozen the payment amount, but had not sent in the request for actual payment.

I called Dish back with all the information from the bank and asked that they either complete the payment I had made or release the funds so I could make the payment again. They refused, saying that I was lying about the bank info. I got my bank on the line in a conference call and had them repeat what they told me. Dish still didn't believe me. I then asked why the pre-paid package had been turned off and the reply was, and I quote, "Because that is the only way we have of making you pay this payment."

I told them our relationship was over unless I received what I had paid for. They again refused, so I hung up. As soon as I could afford it, I subscribed to DirectTV. I use any bills or offers from Dish as kindling to start fires in my wood heater.

Yes, bills. Despite canceling my service, my prepayment was forfeited and the bills they had frozen accounts for were continued for three months. Over the years, interest has been added as well. I have received a couple of calls from collection agencies; I have informed every one that nothing would make me happier than be be called to court to defend my actions. None have ever called more than once.

Due diligence works both ways. I cannot, and this lady cannot, force anyone to accept payment. There are actually laws on the books (and I hope her attorneys use them) to have debts erased because the creditor refuses payment.

Apparently you have never experienced such a situation. Congratulations, and I hope you never do. But please don't think that just because you have never experienced something directly it doesn't exist. I, for instance, have never seen the Eiffel Tower with my own eyes. Yet, I believe it exists based on the reports of others.

TheRedneck



posted on Aug, 20 2011 @ 12:42 PM
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reply to post by daydoesez

Please accept my fervent hope that your situation is resolved.

I discovered many years ago that the real name of the credit game is "Redneck loses". I own my home free and clear; it's not much, but it keeps the rain and wind out. I own my car. My bills each month are TV, phone/DSL, electric, and cell phone. I have no credit card; I use a bank card for online purchases. When the depression started, it hurt but it didn't destroy me; I have nothing a bank can take because no bank owns any part of what's mine.

It took a while to get there, but believe me there is no greater feeling than being asked who holds my mortgage and being able to honestly give them a confused look and say "What mortgage?"

Hate the banks? Do something about it. Stop using them.

TheRedneck



posted on Aug, 20 2011 @ 12:55 PM
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Originally posted by TheRedneck
reply to post by liejunkie01

If you read the story, her husband was striken with illness and they encountered some huge unexpected medical bills. Which, incidentally, they were trying to pay...

That doesn't sound like deadbeats to me. Sometimes bad things happen to good people.

TheRedneck


I do not believe I called them deadbeats. I beleive that I said they were living outside of their means.....If they are a older couple they really need to think about this a little more. The money is not going to flow like water all of the time........Cheaper house=more money for medical expenses............



posted on Aug, 20 2011 @ 01:35 PM
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BS kro. Do I believe BofA gets together to come up with ways to screw people?? ABSOLUTELY!!! I had a problem with them several years ago. I had a bank account with "overdraft protection" which basically means that they get to screw you when your account goes under balance. I know blah blah, "you shouldnt let your account go under", but when bank cards first came out, if you had not the money to cover a transaction, then it was declined. Worked for me....but then they found that if they allow you to draft extra, but charge exorbitant amounts for it, they make lots of money! Regardless, the point is that some months I would realize that i was going to go over, as I wasnt making much money at the time and had lots of expenses, struggling to get by.

SO....I would plan for this by making my smaller purchases first, and then paying my rent last, so the large payment would be the only thing I got an overdraft for. I eventually noticed a discrepancy in my files so I went in and asked BofA why i had multiple overdrafts, rather than just the one on my rent charge, which i payed last. They informed me that they reverse all the processing through so that large charges go through first, and small ones last!!! This way, i got many overdrafts rather than one because they change the order of processing! Do I think it was a scam? Hell YES!! They claimed that they figured people wanted to be sure that their big bills went through first, but since all the bills eventually go through, the only difference was I wound up paying them hundreds of dollars rather than 30 dollars. THIS is why they have a huge class action lawsuit right now. I have waited years for justice, and am happy to see it done. Do I think this was intentional, just to steal money from people? Yes.



posted on Aug, 20 2011 @ 02:56 PM
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reply to post by liejunkie01

No, you never used the word but I believe others have. The idea is the same though: someone living outside their means, sponging off the system. But this couple is reported to have had no problems before the medical bills came in.

Medical catastrophe is not something anyone can plan for financially. When it hits, one simply has to do the best one can. In this case, they did not run out and start maxing out credit cards in order to make good for this month and not worry about next; they went to the bank and stated their problem, then worked out a solution. The problem came when that solution was then used against them to force an improper foreclosure.

BoA is thus far reported as
  • requiring the couple to default in order to adjust the mortgage

  • Accepting the first adjusted payment early, yet allowing it to show as delinquent on their computer records.

  • Providing a payment method that can stop payment over a single unrealized and common error.

  • Failing to communicate the fact that any problem existed with the customer.

  • Using the above to institute foreclosure proceedings.
So I ask you: could there ever be anything BoA is truly responsible for? Or are they allowed to act however they want whenever they want, regardless of reason and legal considerations?

And if they have any obligations whatsoever, what would those be in your opinion?

TheRedneck



posted on Aug, 20 2011 @ 03:19 PM
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Originally posted by TheRedneck
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.


Just gotta point out - computers don't make mistakes - people do.

As a programmer it's my duty to point that out when I see it



posted on Aug, 20 2011 @ 03:33 PM
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Originally posted by illuminatislave
Kro do you have stock in BoA?

Otherwise, there's no way that you can defend their actions.

Unless you're a sociopath, of course.


I was thinking narcissist. Maybe Kro ought to go look those big world words up as his words seem to fit the description.

OP, this is a sad story of which is happening every single day, except to those "too big to fail", this world is not "too big to fail" and it will happen if we do not stop the banksters and the corporations.

We talk about the poor and middle class who "should" take care of their own business while ignoring the narcissism of corporations, then we wonder what is going wrong.

Harm None
Peace



posted on Aug, 20 2011 @ 03:52 PM
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reply to post by TXRabbit

You're absolutely right... computers don't make mistakes; people do. Computers just amplify the mistakes people make.


So who wrote the software for BoA? An employee of BoA? Someone contracted by BoA? Either way, BoA takes the responsibility.

TheRedneck (who also does a little coding from time to time)



posted on Aug, 20 2011 @ 04:18 PM
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Originally posted by kro32
reply to post by TheRedneck
 


As I stated earlier, if the bank did anything that would apply any of the blame to them than of course this woman should not lose her home. I hate banks as much as the next person but I also don't villafy them when they aren't at fault.


I can't remember being quite this disgusted, or angry, after reading a series of posts from somebody here.

I think an earlier poster nailed it...you are, without a doubt in my mind, a sociopath. An unfeeling robot of an individual who is unable to feel compassion for a fellow (you are as flawed as her) human being.

The error she made was trivial, and easily correctable. The punishment does not fit the "crime". If this was/is a fair resolution for a supposed late payment (and I assume that could be argued against as the bank system will have a record of her inputting the wrong number prior to the payment date)...then she should have been able to walk away from her mortgage the month before because she made a payment a month early but the bank had accepted it.

If, in fact, her contract allows for the bank to instantly foreclose after one late payment after her never having made a late payment over the years she had the mortgage - then the contract itself should be contested as being fundamentally unfair (as one can do when the parties to the agreement have a wide difference in power to make contract modifications during negotiation).

People at the bank should be fired for this injustice...and their basic lack of common sense. Laws should be changed (if they need to be) to ensure that this kind of thing cannot happen.

And you sir...well...need to take a serious inventory of your ability to feel compassion for other people...and your lack of an ability to see them as real flesh and blood beings who need support, and forgiveness, from time time - especially when a human error is clearly made without an intent to injure their contractual partner.

You are coming at this from a very strange and jaded place...



posted on Aug, 20 2011 @ 04:42 PM
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reply to post by kro32
 


so just so we're clear, BOA takes tens of billions of dollars in taxpayer money to prevent them from failing after risky lending, jumps through tax loopholes to avoid paying a single cent in tax, and you paint people like these elderly couple like THEY are the drain on society?! yeah man! give em what they deserve, damn commies expecting a handout. 'MERICA! GREATEST COUNTRY IN THE DAMN WORLD YEEEEEHAW NUMBER 1!


edit on 20-8-2011 by thedeadlyrhythm because: billions.



posted on Aug, 20 2011 @ 05:44 PM
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I've seen this before from BOA on houses that they can sell short and still make a nice profit. If that is the case here the owners will go through all kinds of hell trying to keep the house because BOA will not give up.



posted on Aug, 20 2011 @ 07:14 PM
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reply to post by Vitchilo
 


Welcome to the Right Wing world of small government and little regulation.

Well done TeaBags. Oh wait, this is where someone touts Ron Paul getting government off our backs.

Useful idiots.



posted on Aug, 20 2011 @ 07:24 PM
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Originally posted by kro32
reply to post by illuminatislave
 


She obviously doesn't have the mental capacity any longer to pay bills correctly. If I had been under this plan and knew the consequences of a payment not being made you can make sure I would check than double check to make sure they got it.

This woman needs to be in an environment where people will do these simple tasks for her since she no longer has the ability.


I wish I could be around when YOU get to that age.
From your tone, I'm left to assume that you are infallible.
You won't be ill.
You won't have to care for anybody that is ill, & you won't have to rely on others to care for you.
You won't develop age related diseases, dementia, heart disease, diabetes & the like.
You will always be as sharp mentally, as you are at this moment.
You will always understand legal documents etc, that are DESIGNED to be confusing & misleading ,as it works to the corporation's advantage.
You will never struggle financially, as you would be prepared for ANY circumstance.

If my tone drips with sarcasm, it is because yours drips with zero compassion, tolerance or goodness.
Life has a way of delivering a lot of curve balls, that can neither be foreseen, nor prevented.
I hope that if you ever do find yourself in a situation that you weren't prepared for, that people show you the kindness , compassion & help that you are so reluctant to show your fellow man at this time.

That way, you may actually learn.



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