Replies to This Discussion

Permalink Reply by Wendy Smith on July 26, 2010 at 9:09am

it's interesting that the county posted payment for 2009 taxes without the 2008 taxes being paid. I thought the oldest tax bill was always paid first. what state are you in?

Permalink Reply by Dave Halpern on July 26, 2010 at 9:25am

Judy, I'm looking on this site for best escalation numbers in BOA. I remember noticing them as I surfed posts but can't seem to find them now. If any one can point me in the right direction will be much appreciated.

Judy Chapman said:

Look for names higher up the food chain. Contact Fannie Mae if this is one of their loans. Talking to the lower level people is a waste of time. I'm sure you'll find resources right here!

Permalink Reply by Dave Halpern on July 26, 2010 at 9:27am

Wendy,
Jefferson County, Kentucky. The 2008 property taxes were sold to Nebraska Alliance, tax lien buyers. The seller for some reason paid the 2009 on his own and skipped 2008. Not escrowed with BOA.

Wendy Smith said:

it's interesting that the county posted payment for 2009 taxes without the 2008 taxes being paid. I thought the oldest tax bill was always paid first. what state are you in?

Permalink Reply by Arthur Chatroo on July 26, 2010 at 3:48pm

I don't believe that BofA really cares.

They're likely just servicing the loan, so its not their loss if it goes into foreclosure.

In fact, I believe that they are conflicted. That Is, I understand that they get paid about twice as much for servicing a loan that is in default versus a loan that is current. So, the longer it takes, the more they get paid.

In any event, there is a WordPress Blog that provides BofA contact information. I believe the page is entitled "Bank of America Loan Mod Diary", The phone number they list for the BofA Office of the Chairman is 800-669-2443 x2773.

I recommend that you be prepeared with an estimate showing what the difference is likely to be in the net proceeds from a foreclosure vs. the short sale that you have submitted. That may introduce some rationality into the process.

I hope the above is helpful..

Permalink Reply by Dave Halpern on July 27, 2010 at 7:09am

Arthur,
Thanks for the tip. Here's that blog you referenced with BOA contact information:
http://diaryofaloanmod.wordpress.com/the-bofa-contact-list/


Arthur Chatroo said:

I don't believe that BofA really cares.

They're likely just servicing the loan, so its not their loss if it goes into foreclosure.

In fact, I believe that they are conflicted. That Is, I understand that they get paid about twice as much for servicing a loan that is in default versus a loan that is current. So, the longer it takes, the more they get paid.

In any event, there is a WordPress Blog that provides BofA contact information. I believe the page is entitled "Bank of America Loan Mod Diary", The phone number they list for the BofA Office of the Chairman is 800-669-2443 x2773.

I recommend that you be prepeared with an estimate showing what the difference is likely to be in the net proceeds from a foreclosure vs. the short sale that you have submitted. That may introduce some rationality into the process.

I hope the above is helpful..