Woman Says Bank Foreclosed On Her Home Despite Making Mortgage Payments
(Running time: 1 minute 37 seconds)
Here in her own words is Ms. Kim Shibles telling her story in her own words about her experience with Bank of America before she found Denbeaux and Denbeaux. After hearing her brief one on one with CBS Producer Mary McKeever, you can click the link at the end of her video and see the CBS feature that ran in November. If you want to skip Ms. Shibles and the CBS feature is below:
CBS New York / Pittsburgh November 17, 2017 (Running time 2 min 31 seconds)
“I purchased my home Feb.20, 2004. In 2010 I received through the mail an offer from Bank of America (my mortgage bank), soliciting me for the Making Homes Affordable program, which was a President Obama sponsored mortgage modification program at the time. I was approved within two weeks to be part of a trial program, with a three month stipulation that if the payments were made on time the new modification would remain intact and be made into a permanent fixed loan. Prior to this offer, my history of making payments to Bank of America was impeccable and I had no knowledge of nor had ever attempted to contact Bank of America to modify my loan. During this same time period, I was experiencing a disruption of Survivor benefits for one of my sons, which would amount to a loss of roughly $12,800 for the year. This was a tremendous loss considering I am a widowed mother of three and have sole custody of and exclusively care for my severely handicapped grandson. Needless to say this modification was a god send to me at the time. In fact, it was this hardship that made me eligible for the modification in the first place, according to Bank of America.
For the entire three month trial period I made my payments perfectly on time and in compliance with my agreement with Bank of America. For reasons unbeknownst to me, Bank of America never notified me after the trial period had ended, and never sent any forms or statements reflecting the new modification payments. After contacting them on the telephone, I was instructed just to keep making the same payments as I had done for the last three months. This lasted for ten months. On January 1st, 2011, Bank of America sent me a bill for roughly $8,000, reflecting the difference from my original mortgage payments and the modification payments that I had been making.
Along with this billing notice, Bank of America stated that I was no longer eligible for the modification program and they were intending to foreclose on my home if l did not pay the $8,000. At the time raising $8,000 seemed like raising a million.
After a lengthy conversation on the telephone, a representative from Bank of America advised me if I filed a Chapter 7 bankruptcy, I could clear some of my debts and now be eligible for a second modification. Based solely on their advice, I filed a Chapter 7 bankruptcy case, and in June of 2012, cleared most of my debts and refiled for the modification with Bank of America. Two weeks later Bank of America sent me a notice, stating that I was not eligible for a modification.
In March of 2014, after many, many telephone calls and conversations with Bank of America, I went through the arduous process of sending form after form, and request after ridiculous request from Bank of America for piles of information concerning the application for a third mortgage modification. At the same time Bank of America was still going through the foreclosure process and assured me that they could stop the foreclosure or any sheriff’s sale, once the modification was approved. It was becoming apparent to me that Bank of America was never going to modify my loan and that I could really lose my house, and the stress of this was taking it’s toll on me. What I didn’t understand was why Bank of America would do such a thing. I had done everything that I was instructed to do, but it seemed like it was never going to be enough.
Several months later I received a notice that my home would be going to sheriff s sale on July 23rd, 2014. On July 16th, I went to the sheriff’s office and gave them a payment to postpone the sale. At 3:30 that same afternoon, I received a call from the sheriff s office, informing me that I could come and pick up the check that I had paid for the postponement, because Bank of America canceled the sale, due to an incomplete FHFA certificate. At 6:30 p.m., on the same day, I received a call from Rayne Lynn Sykes’ assistant. Rayne Lynn Sykes is the Bank of America representative that had been helping me with the modification. Her assistant informed me that I would be very happy to hear that they canceled the sale of my home, because the underwriter was putting the mortgage together. I started to feel relieved but was still apprehensive. Interestingly, another date for sheriff’s sale came and went on August 20th, 2014, and again another postponement by Bank of America. I would like to make it clear that these postponements by Bank of America were not made on my behalf or for any sympathy on their part for me, but due to lack of paperwork and procedural issues on their part.
After that call, I did not hear from Bank of America until October of 2014, when they informed me that a company called BSI would be the new servicer of the loan. Shortly thereafter I was served papers from the sheriff s office giving me a new date of December 10th 2014, for the sale of the house. At this point I just did not know what to believe, because all along Bank of America had deceived me into thinking that I would never lose my home and that the modification would take place.
On December 9th, 2014, I went to the sheriff s office again to postpone the sale and was able to get a postponement and a new date of January 7th, 2015. As suggested by the sheriff s office, I returned at 8:30 a.m. on the morning of January 7th, 2015 to submit and pay for my second (official) postponement. Representatives at the sheriff s office told me to call in at 1:00 p.m. and check to see the status of the sale. They informed me that Bank of America again postponed the sale and that I would get my check back and not be charged for the second postponement. Ironically, right around the same time, I received a certified letter from BSI, stating that there was help for me and still time to get a loan modification.
The stress and anxiety from all of this is really affecting my health and my family. I will be 50 in April, and I’ve raised my three boys by myself since they were one, three and eight years old. In 2012, I went to Louisiana to get my grandson out of foster care and bring him to my home. My grandson Logan is severely handicapped and I was the only person that was willing to take on the responsibility of his care. Logan is the light of my life and we live day by day not knowing what’s coming next or whether we will be homeless tomorrow. Basically, I feel like I am a victim of a fraudulent mortgage. I cannot be put out in the cold with this child. I thank you for any help that you may extend to me on this matter.”
This is Kim in Josh’s office discussing her case with CBS. She is a brave and courageous homeowner to stand up for her rights and also come forth and talk about her case publicly. These next videos are about loan modifications, loan servicing and the banks.
Josh answers the question how his approach to foreclosures is different.
Short answer : the firm takes into account contract law. He suggests that other lawyers offerring foreclosure defense haven’t held loan servicers to account for breach of contract is a tool they should be using. (Running time 2 min 28 seconds)
In this recorded phone call Josh answers the question about how the intake of documents and analysis is the foundation of the claim. (Running time 1 min 44 seconds)
In this video Josh answer question of what are the ways to challenge a foreclosure case. (Running time : 1 min 39 seconds)
Download a copy of the Foreclosure Guide to know the steps involved in a foreclosure and the exact legal process.