For almost 15 months, my wife and I had been attempting to work with Bank of America on either a mortgage modification, a short-sale, or a deed in lieu of foreclosure. We were now coming down to the wire, as our house was scheduled to be foreclosed on June 7th.
Even so, we felt confident that we were going to get a modification offer from the bank. Not only we were told that an offer was coming, but for months we’d been told that if we had an open file in review within two weeks of a scheduled foreclosure, the bank would postpone the action.
So on May 31st, we spoke with our bank contact, who at that time said that we did indeed qualify for a postponement, and she just needed to get the paperwork signed to make it official. As I checked in regularly to see if our postponement had been approved, to my dismay, the answer was repeatedly no.
By this time, I had reviewed many lawsuits against Bank of America in the Cobb County records. I was amazed to learn the number of wrongful foreclosure lawsuits that the bank had against it, some of which were extremely egregious in the way that the bank had directly contradicted the assurances it had given to their clients.
On the Friday before our scheduled foreclosure, 2 business days before we were to lose our home, I called in to see if our postponement had been approved. Again, the answer was no — it was still in review.
It was in this moment that we decided to file a lawsuit against the bank. We would no longer wait on pins and needles, hoping that the bank would live up to their verbal assurances, and we would take control of our destiny.