Friday, April 22, 2011

BofA F'closes On Homeowner After Promising To Hold Off During Loan Modification Review; Home Auctioned Out From Under Him While On Phone w/ Servicer

In Arvada, Colorado, KMGH-TV Channel 7 reports:
  • An Arvada man’s foreclosed home was auctioned off, while he was on the phone with the bank. The sale comes after reassurances that his case was under review. "It's not just property to me. It represents my life's work,” said Ray Vigil, who has owned his home for nearly 14 years.

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  • Vigil said he went through tough times but said Bank of America agreed to possibly modify his mortgage. In March a spokesperson sent 7NEWS confirmation that the sale was on hold. "As long as the modification was under review, that foreclosure sale will not go through," said Vigil.
  • On Wednesday afternoon, the home was sold at an auction as Vigil pleaded for help from the bank. He said he was never told that anything had changed. "As recently as this morning, they still requested documentation,” said Vigil.

For more, see Foreclosed Home Sold While Owner On Phone With Bank (Man Says Bank Told Him Sale Was On Hold).

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