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In January 2013, our Chapter 13 case was confirmed and out monthly Bankruptcy payment was $1000 per month. We started to experience medical bills and home repairs (plumbing issues). We started to fall behind in our mortgage payments. In May 2013, Bank of America had the “stay” lifted. We worked out a repayment plan with Bank of America’s lawyers and we were waiting for them to approve it. In July 2013, after waiting for over a month, we decided to apply for a loan modification in Bank of America instead. Also during this time, I was able to get my Bankruptcy payments reduced to $600 per month. In August 2013, while we were in the process of a review for a loan modification, we received a letter from Bank of America that our loan was transferred to Selene Finance. I called Selene Finance to let them know that we were in the process of applying from a loan modification with Bank of America and if they have all the documents that they need to continue the process, I was told that they had everything and will review the documents. From August 2013 to December 2013, I was constantly calling Selene Finance for status on the loan modification and I was told that they needed to enter the paperwork into their system and then they would review the documents. In December 2013, I called Selene Finance and they told me that I would need to complete new documents to request a loan modification.
In January 2014, I submitted to new documents for a loan modification to Selene Finance for review. From January 2013 to May 2013, I was constantly calling Selene Finance to check the status of the loan modification and I was told that it was in underwriting. In June 2014, I received a letter stating that my request for loan modification was denied. I called Selene Finance and they told me that I would have to wait until August 2014 to re-apply for a loan modification. On Friday, July 17, 2014, I called Selene Finance and spoke to my account manager to get the documents to reapply for a loan modification. He informed me that as of June 2014, I was in active foreclosure and that my sale date was September 1, 2014.
Right now, I am beyond frustrated for several reasons. I feel that as a homeowner, my husband and I have done everything that we needed to do in order to save our home. I think it was unfair mortgage practices for Bank of America to transfer out loan during the review of request of a loan modification. Also, if they knew that I could not apply for a loan modification for 24 months, why would Selene Finance have me submit a request for and new loan modification and have us wait for 10 months just to deny the loan modification. Lastly, even if the “stay” was lifted (we are still in active Bankruptcy – Chapter 13) how can Selene Finance put us into closure even though we didn’t receive any notice in the mail.
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