Bank of America's error cost Cape Coral woman a house

[Capt. Jack]

Source: News-Press

Melanie Payne • [email protected] • July 22, 2010

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1:10 A.M. — Nicole DePuy thought she was one of the lucky ones when she walked out of Harborside Event Center on Jan. 27 with a loan modification that would save her home from foreclosure.

After waiting hours to talk to her lender at the highly publicized event, the 40-year-old speech-language pathologist had been approved for a trial with the Home Affordable Modification Program.

Under the government-sponsored program called HAMP, DePuy's mortgage payments were cut almost in half, dropping from $2,100 to $1,054.

And best of all, under the terms of the program, all foreclosure action would stop. The scheduled sale of DePuy's Cape Coral home was prohibited under the terms of the agreement.

"I thought my problems were over," DePuy said.

Nothing could be further from the truth. But DePuy didn't know that until John Moffatt of Isla Blue Development LLC put a note on her door March 31 telling her to call about her property. Moffatt told DePuy the company he represented had purchased her home in a foreclosure sale at the courthouse.

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Read more: http://www.news-press.com/article/20100722/COLUMNISTS40/7220381/Bank-of-America-s-error-cost-Cape-Coral-woman-a-house

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These sleaze bags must be stopped!

http://www.foreclosurehamlet.org

[Lightning Count]

1. Why can't the gov't/judiciary just reverse this?

This makes no sense.

[davidinalameda]

2. the judge ruled that the sale was legal

:shrug:

she should sue B of A since they screwed up

[SoapBox]

3. Just WRONG!

Oh come on...there has to be a judge out there that will "stay" Isla Blue from taking ownership.

The "deal" was not done correctly or honestly. Period.

The home needs to go back to the owner...Isla Blue should be dealing with B of A. Period. The woman
did nothing wrong!

WTF is wrong with these judges??????

Outrageous!

[aquart]

9. Bush spent 8 years positioning conservative judges in every crevice.

[saigon68]

12. And Democrat Blue Dogs in the Senate allowed him to do it

[Evasporque]

4. She did remove her home from foreclosure sale list...

Which must be done on the third tuesday from 9:45 a.m. to 10:05 a.m. She must fill out a mortgage modification form and a modification request form which must be filled out with an intent to file mortgage form and non-refundable filing fee of $500.30 six-weeks in advance. Intent to file mortgage adjustment forms are not yet available. Complete instructions are available in a to be announced Bank of America location. Do not visit your local branch or call Bank of America.

[w4rma]

5. Love those instructions. They sound accurate in their attempt to confuse.

Don't miss that 30 cents and don't show up at the wrong place, early.

[superconnected]

6. Can she sue the bank? They should have notified their own lawyers not to sell something the didn't

legally own outright. Since she holds the mortgage they can't possibly legally sell her house to someone else.

[Edweird]

7. If she can sue and win then this might be the best possible result.

The odds are good that B of A was simply going to elect to continue past the three month initial period anyway.

[Pab Sungenis]

8. This seems to be standard practice at BoA.

We filed for a loan modification last June. In July they sent us new forma and asked us to file an application again. A week later they foreclosed without notifying us.

Since then they have postponed the Sheriff's Sale for over a year as this process continues. They've lost our paperwork three times, requiring us to re-file each time. Their collections department, apparently not having been informed either that (a) they've already foreclosed or that (b) we have a pending loan modification, continues to call and harass us twice a week about paying.

Bank of America is a bloody mess, and I think the whole world needs to know about it.

[Delphinus]

10. They are, indeed,

a huge mess.

I pay for my own taxes and insurance and even though they have my insurance noted, every year I have to send them proof or they charge me (get this) $666. I faxed them proof of insurance; a month later I snail mailed them proof of insurance; no matter. I finally got it fixed, but the left hand and the right hand are not communicating.

[sendero]

11. We're in the process of selling our house..

... and our realtor said she advised not accepting offers from people who were prequalified or planned to seek financing from Bank of America or Wells Fargo.

She said both are missing closing dates by weeks, closing comes and goes and no check. It's a nightmare.

I'm going to take her advice.