Add One More F'closed Homeowner To List Of Those BofA Told To Miss Payments To Qualify For Loan Mod; Woman Was Current On Reworked Plan When Home Sold

In Santa Clara, California, the St. George News reports:

• Bank of America foreclosed on a Santa Clara woman’s home, despite her doing everything she was instructed to do in order to prevent it. Annette Lake resided in her house in Santa Clara from 1986 until May 24, 2011, when Bank of America foreclosed on her home.
• Just after her divorce from her husband was finalized in 2008, Lake was diagnosed with breast cancer. She was laid off from her job during chemotherapy treatments. She began having a hard time paying her mortgage, though she never missed a mortgage payment.
• In 2009 Lake learned that the government had given banks money to assist people experiencing hardships. She called Bank of America, the holder of her home loan, to learn if she could refinance her loan so that her payments would be more affordable.
• “They told me they couldn’t assist me because I was paid up to date,” Lake said. “I had to be behind on my payments before they would give me assistance.” Bank of America representatives told Lake she needed to miss three mortgage payments in order to be eligible for assistance. Lake then missed three mortgage payments, as Bank of America instructed her to do.
• After missing three payments, Lake’s home loan was remodified and her mortgage payments were lowered to $728.50 per month, which she paid on time each month. But in late June 2010, the day after her mother died, Lake came home to find a foreclosure notice posted on her house.

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• Though Lake continued paying her mortgage payments, Bank of America attempted to foreclose on Lake’s house again, and on May 24, the efforts were successful. Lake and her 19-year-old daughter moved out of her house, which has now been sold by Bank of America. Lake and her daughter moved into Lake’s father’s basement, where they share a bedroom.

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• The entire experience has given Lake a different outlook on life. “I honestly understand how people become homeless and how they give up and say they don’t care,” Lake said. “You get to the point where you don’t care. I get it. You just feel like saying, ‘Fine, you win.’”
• Though she’s already lost her home, Lake is hoping to participate in a class action lawsuit against Bank of America.(1) “I know I’ll never get my home back,” Lake said. “But hopefully there’ll be some repercussions, some reciprocation.”

For more, see Bank of America Forecloses on Santa Clara Woman After Telling Her to Miss Her Payments (Annette Lake lost her home after Bank of America told her to miss three payments so she would qualify for a remodification. Lake needed to remodify her loan after being diagnosed with breast cancer).

(1) Beware of "class action lawsuits bearing gifts." See Class Action Horror For Wells Fargo Pick-A-Payment Borrowers As $50M Settlement With Bankster Yields $96 Per Victim, $25M For Attorneys.