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I was told by Country Wide that I qualified for a modification and the papers were coming by FedEx. When I received my package it was a letter stating that Bank of America owned my home. After 2-3 years of messing with the modification and re-sending paperwork my checks were sent back to me and I was foreclosed on. Now they want me to sign my home over to them or a short sale or come up with 20,000 to bring my loan current. When I was contacted by country wide about the modification I was only one payment behind. I was given a temporary modification until my permanent modification was completed. The difference between the temp amount and the original payment amount accrued interest late fees and eventually I was too far behind to catch up and when the temporary period was over the refused to accept my house payments at all and started sending them back to me. The filed the foreclosure as soon as I got the temp modification. I Dont know what I should do but this is so unfair.
1 ANSWER
Bankruptcy Attorney serving San Antonio, TX
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Law Office of Kenneth L. Wake, Jr.
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I agree. It's very wrong but I have seen numerous people get lured into the same situation. Since they haven't actually went through with a foreclosure (which is apparent from their requests that you deed the house to them or short sale it to them), you could file a chapter 13 bankruptcy and catch the house up over the next 5 years. I also would take a hard look at the equity in the house and seriously consider whether or not it was worth trying to catch up before I put another cent into saving it.
What Texas County do you live in? This would determine what Court had jurisdiction.
Thanks...Ken Wake
Answered on Jun 10th, 2013 at 4:03 PM