Bank Of America is no help

[rob83]

In a nut shell my Wife and I filed chapter 7 bk in 2009 it was discharged on July 20, 2009 we surrenderd our house to the bank. We moved out before our 341 hearing.
Fast forward to today the bank still has not taken the property, our put it up for short sale. We are still on the title of the property, Taxes are current. We have called the bank asking them (begging) to either foreclose or sell it (we still get payment forms for our first loan from countrywide). They said the had no plans to do either of the two.
So my wife called them and said we were going to move back in since they refuse to do anything.
They said no problem we will close your file... WTF now what do we do? I just covered the house with insurance again. We are no longer responsible for the loan amounts of 264,000 (first) or 78000 (second).
Do I start paying the property taxes and take them to court, and tell the judge I started paying the taxes, and they haven't done anything for almost three years.

[helpme2010]

Why can't my bank be like yours. I would kill for them to delay the foreclosure of my house. They gave me a 2 week notice to auction my house just weeks after my discharge. Some on this board get booted out fast and others get years of free rent. In your case being stuck with the taxes and insurance.

[rob83]

Maybe they would of booted us out if we stayed after discharge. I really don't know, one of the reasons we moved back was the house seem to just sit their with nothing happening to it. We felt if we moved back in the bank might work with us? But I don't know how that is going to work. Since our debt was discharged. The free rent doesn't hurt either
I know we don't qualify for HAMP because the payment on the first is still 31% below our gross income.
The whole thing is just confusing

[basketsbears]

My husband has a mortgage (9+%) on his old house that we rent. We are upside down and losing money every month even with the renters. Mortgage is with BOA. The reason I'm writing is that he has called numerous times, on the phone for hours and since it is not our primary residence they said there was nothing they could do. Well he wrote them a very "colorful" letter and this week they called and said they want to work something out and will be sending him a proposal. Crazy!

Good luck, who knows what BOA will do?..

[ValleYum]

Why can't my bank be like yours. I would kill for them to delay the foreclosure of my house. They gave me a 2 week notice to auction my house just weeks after my discharge. Some on this board get booted out fast and others get years of free rent. In your case being stuck with the taxes and insurance.

helpme2010? Read this article - it kind of tells you about what ScreenTest mentioned on another thread - the reason why OWB (Old IndyMac) is so hot to foreclose. http://www.freerepublic.com/focus/news/2420418/posts Ugh.

[slam22]

In a nut shell my Wife and I filed chapter 7 bk in 2009 it was discharged on July 20, 2009 we surrenderd our house to the bank. We moved out before our 341 hearing.
Fast forward to today the bank still has not taken the property, our put it up for short sale. We are still on the title of the property, Taxes are current. We have called the bank asking them (begging) to either foreclose or sell it (we still get payment forms for our first loan from countrywide). They said the had no plans to do either of the two.
So my wife called them and said we were going to move back in since they refuse to do anything.
They said no problem we will close your file... WTF now what do we do? I just covered the house with insurance again. We are no longer responsible for the loan amounts of 264,000 (first) or 78000 (second).
Do I start paying the property taxes and take them to court, and tell the judge I started paying the taxes, and they haven't done anything for almost three years.

If BofA said they have no intention of taking the property back anytime soon then I would move back in and live rent free until they eventually foreclose. DO NOT pay any property taxes. If BofA is paying them now then let them continue to pay them. If the taxes are not being paid they just attach to the property and not to you. You have no personal liability for them. Move back in and take advantage of the opportunity.

[discouraged]

I sure would move back in. I purposely quit paying my mortgage in June (at the advicee of a lawyer) and am still waiting for notification of a sheriff's sale. Here, in MN, there is still another 6 months after the sale before they foreclose. My brother has contacts in Illinois that can help me find a job and they would let me live there until I found one, but I don't dare leave my house vacant until it is the bank's responsibility, not mine.

In the meantime I am still looking for a job or temp work until this house is out of my name. Once it is, I can move but I'm not moving hundreds of miles away until I know it is out of my name.

[rob83]

We've moved back in. It work out great because our lease was up on our rental, and their also selling it. It just amazes me that the Bank doesn't want to work with us. My Wife and I would a agree to a deal if they would at least talk.... But its like usual we tax payers bail them out, and we get the shaft.

[discouraged]

Agreed.

[ItsJustMe]

We went over a year w/out payments and never got more than a few letters and a note on the front door. We ended up selling as a short sale, but I did wonder how long BofA would have taken to foreclose had we not worked out a short sale. They seemed to be in no hurry at all.

ETA: *and* the previous 9 months payment was spotty. We stopped paying in early 09 so they would modify, made 2 payments post modification, then filed, stopped paying, and 13 months later we sold as a short sale.

[Billssuck]

I agree with another poster...move back in and don't pay the property taxes/insurance. BOA has been paying mine for me and I have heard nothing from them yet and am sitting in the house saving money until they decide to do "something". The only contact I have had with them was when we modified our ch13 plan (May 2010) to surrender our house after my husband lost his job in October 09 (and our trustee aprroved the surrender).