Need advice on how to counter efforts by BOA to foreclose on a home. After 2 years of working a remodification with BOA, the payments were said to be adjusted downwards by roughly $36. The consultant who worked with the bank, was informed that no paperwork requiring signature had been received. The consultant informed the loan holder to keep making the payments and that the paperwork should arrive. The remodified paypments were said to have started this past September. Today, a letter of intent to foreclose was received from BOA.
What's is very odd is that payments have NEVER been missed. Since the remodification was said to be completed in September, the payments have been made, less the $36 dollars as the loan holder was instructed by the the BOA consultant. The mortgage payments of close to $2000 per month have been paid to BOA with bank records indicating their withdrawal. On a phone call to the number listed on the intent letter - placed this evening - a BOA rep said they intend to foreclose Jan 7. They could not explain what happend to payments that had been withdrawn. The amount stated as being owed roughly $6600, seems to indicated that none of the made payments were applied.
If anyone can provide some guidance on how to proceed, it would be very much appreciated. The loan holder in this case is a very dear friend who is beyond frustrated and scared. She spent almost two years trying to get the remodification done, and thought it was all done but the signing of the contract which was never received and the bank themselves said they could not confirm if it was delivered. Based on the letter receieved today, it doesn't sound as BOA intends try and make any sense of what's going on. My friend is suppose to speak with the consultant who helped with the remodification, but she states that she has very little confidence in that persons ability to help, based on their prior conversations.
The home is a primary residence in Illinois. The loan is an FHA underwritten loan.