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Home Owners With Mortgage Risking Foreclosure

March 31, 2012
Group owner Richard Martine

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Discussion of Bank of America Mortgage to Lease program

By: Richard Martine   Post Date : March 31, 2012
Bank of America has recently announced a pilot trial of a Mortgage to Lease program, which is designed to help home owners who are at risk of foreclosue to stay in their home, and make lease payments for three years. If members of the group have any experience with this, or have any suggestions for others, please share your comments. Please help the improve community to share, grow, learn, and educate.

Showing 5 Comments

  • User_image
    Huong Phan
    April 01, 2012

    During the loan modification the house was sold- was confirmed by some manager of review application "do not need to leave the house, need to wait for result from reviewing" asking them to send bill for reinstate then few days later received a few evictions notice and 24rs notice- what a sad and scary do not know where
    to move in 24rs!!!!
    Thank you for Joy Consulting Group and ATT. Frank RUSH helping me to go thru this period-
    now house is owned by fe. m. after this was receiving several letters from BOA offer to help -called BOA let them know house is not with my name- even got call from executive office to offer help did not even know house was not with my name
    Then agree to turn key with condition 50 percent about a month ago and 50 percent - nothing in my hand and still in the house- paid too much to much to move in .
    Because the foreclose on credit report very hard to rent or buy.
    Now with waiting and may be a few hrs notice to move even wit agreement. Wish to stay in house for 3yrs.
    Need help by some?????

    1
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    Raeann Gilbert
    April 01, 2012

    How can this be ok ? 3 years I have been in review, 16 applications , using the help of Hud housing counseling and the Attorney Generals office of Mass as well. I do not believe BofA even holds my promissory note and I have multiple acts of fraud done by BofA in writing, as well as A great case for a 93 a claim! This appears to be a new scam by BofA to work around the fact that they continue to try to foreclose on homeowners fraudulently , never sign over lue of deeds ! They get pick who they want to help , they get you to sign over your title, and then maybe you can rent your house back PLEASE ! Thanks anyway Who wants to rent their own house, and still hope not to get evicted ! Just another trick to get you and I to sign over lue of deeds , I SAY NO WAY !

    2
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    Joan Cohets
    April 01, 2012

    My business went down and i could not pay for quite some time, also countrywide to Boa, sent for modifications and said they never got paperwork. It was sent fed ex with receipt, now fees are higher and payments accelerated everyone said do not send anything you don't know where your money is going. Now what!

    3
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    Francine
    April 17, 2012

    When is our gov't going to stop spending our tax dollars? When is enough, Enough? If BOA is going to "forgive" homeowners delinquent mortgage balances, what about the rest of us that are responsible enough to pay our mortgages? Are we going to get a break? Whose paying for these "forgiving delinquent balances? Oh, yes, of course we the tax payers. Please remember that the banks cannot "survive" without "WE THE PEOPLE", "WE THE TAX PAYERS WHO BAILED THEM OUT IN THE FIRST PLACE" Thanks Washington, for your poor decisions. Just because those politians have those big, expensive, fancy college degrees do not mean that they can make responsible and wise decisions. Anybody knows that this gov't cannot keep spending like this and the country not go bankrupt. I think the country is already bankrupt, they're just not telling us. Whose going to pay the taxes, the homeowners insurance, the maintenance on these rentals? Oh, yes, the tax payers. Why should I keep paying on my mortgage then?????? Maybe I should just rent my home from my mortgage company. If a house needs a roof replaced, whose going to pay for a $10K or $15K or more roofing job? The banks and gov't need to know that the people still paying on their mortgages are getting really sick and tired of the "NEW" gov't welfare! These banks say that they are going to help people complete a short sale, loan mods, etc, but don't. Its always, "what's in it for them". The banks should not get any incentive for remodifying a loan. They are going to get paid to do a loan ANYWAYS. Just more money for the tax payers to pay out. WOW! Its so easy for our gov't to spend "OTHER PEOPLE'S MONEY" EXCEPT their own. I know that the way this country is being run, is diffently a deciding factor on how I'm going to vote. I can't wait until the tenants, don't pay the rent or the maintenance costs goes through the roof. (Oh, maybe the gov't is going to allow the banks to "write off" or "write down" taxes, homeowners insurance and maintenance, more gov't welfare).

    4
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    Francine
    April 17, 2012

    LISTEN EVERYONE! The gov't has a TIGHT GRIP AROUND THE BANKS THROATS by having the banks hold all of these toxic/distressed properties from the housing market to make an impression (false positive) that the economy is getting BETTER! HOWEVER .... there are billions of distressed properties that are sitting either vacant, rotting due to differed maintenance, or people are just living in properties, not paying on their mortgages all over the country. We need to stand up and demand that our gov't stop getting into everyones business. Our gov't is so worried about their constiutents paying them campaign money to "keep" their companies running and not paying taxes. Wake up people! If our economy and country was doing so GREAT.... then why would the banks have to rent out homes?

    5

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