We applied for loan modification since 2008. My husband was on disability we both filed bankruptcy and got discharge in2009. I kept on contacting BofA,made acase w/ the OCC, 'til finally in Oct7 2011, got letter from BofA that our loan mod was rejected by Investor -Bank of Melon due to NPV issue.OCC said " we cannot intercede in a private party situation regarding interpretation or enforcement of your contract, we can only suggest you consult with an attorney". We paid from 2008 until Sept 2011 $1000for 1st mortgage (s/b amt$$2863),$594 Escrow (full amt & $360 2nd Morgage (full amt). After we got "Notice of Intent to Accelerate" from BofA and the rejection letter, we stopped payment and saving the money for Atty's fee bec we want to keep our home. Oct28'11 we applied w/KeepYourHomeCA
Due to the complexity of the multiple issues and various disciplines of law involved, this is an ideal case for an attorney with experience and a diverse background, perhaps even a multi-attorney law firm. I may suggest that you contact your local county bar association to get a referral; this is a matter for an experienced attorney and not one you should take on yourself with a few helpful hints from the AVVO attorneys.
Shawn Jackson ESQ. (707) 584-4529
Business Development Attorney EMAIL: Attorneys@CaliforniaBusinessDevelopment.com
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Real Estate Attorney
Sorry, but you have no case against the bank for not giving you a loan mod. The bank never promised a loan mod in writing, and there is no law requiring lenders (loan servicers) to modify loans.
Richard A. Rodgers, Esq.
200 N. Westlake Blvd. Ste 201
Westlake Village, CA 91362
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