BofA added 94k to principal in loan mod that client
Posted: Wed Dec 16, 2009 5:35 pm
Another attorney told me that a similar thing happened to one of his
clients.
On Wed, Dec 16, 2009 at 3:13 PM, Shannon Doyle wrote:
>
>
> Wow that sounds extremely heinous.
>
> Shannon A. Doyle, Esq.
>
> Borowitz, Lozano & Clark, LLP
>
> 100 N. Barranca Ave., Ste. 250
>
> West Covina, CA 91791-1600
>
> (626) 332-8600 Phone
>
> (626) 332-8644 Fax
>
> sdoyle@blclaw.com
>
>
> ------------------------------
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On Behalf
> Of *Daniela Romero
> *Sent:* Monday, December 14, 2009 10:20 PM
> *To:* CDCBAA
> *Subject:* [cdcbaa] BofA added 94k to principal in loan mod that client
> obtained
>
>
>
>
>
> Approximately 9 months ago Client, without anyone's assistance, obtained
> loan modification through BofA (Countrywide loan). However, BofA added 94k
> to the principal. Client states she didn't really understand what was going
> on and she only dealt with a BofA rep on the phone. English is her 2nd
> language and nothing was explained or translated to her native language,
> which is Korean. She has a very heavy accent and even though she
> understands English and can communicate in English, it's obvious that she
> should have at least had a translator since everything was done over the
> phone.
>
> I wrote BofA a letter demanding that they modify her loan again because the
> 1st modification didn't comply with the terms of Countrywide's settlement
> agreement with the Ca. State Attorney General. They have agreed to revisit
> the modification, but I'd like your opinion about what to do if BofA refuses
> to remove the 94k they added to the principal. [I don't know, but for some
> reason I don't think they are going to willingly remove any portion of this
> 94k.]
>
> Client had some arrears---but not even close to 15k, so I don't know why
> they would add 94k to the loan. She now owes about 790k and FMV of property
> is appx. 590k. This is an income property; she also runs a preschool (sole
> proprietorship) at this property and she resides there too.
>
> She had back surgery last year and has about 24k in outstanding medical
> bills; she also has some personal credit card debt.
>
> Any ideas on how to handle this 94k would be appreciated.
>
> Thanks,
>
> Happy Holidays!
>
> Daniela P. Romero
> Law Office of Daniela Romero, APLC
> 1015 N. Lake Ave., Ste. 115
> Pasadena, CA 91104
> Telephone:626-817-2611
> Facsimile: 626-628-1781
> email: dromerolaw@gmail.com
>
> NOTICE: This E-mail (including attachments) is covered by the Electronic
> Communications Privacy Act, 18 U.S.C. 2510-2521. The information herein
> is confidential, privileged & exempt from disclosure under applicable law.
> This E-mail (including attachments) are intended solely for the use of the
> addressee hereof. If you are not the intended recipient of this message,
> you are prohibited from reading, disclosing, reproducing, distributing,
> disseminating, or otherwise using this transmission. The originator of this
> e-mail and its affiliates do not represent, warrant or guarantee that the
> integrity of this communication has been maintained or that this
> communication is free of errors, viruses or other defects. Delivery of this
> message or any portions herein to any person other than the intended
> recipient is not intended to waive any right or privilege. If you have
> received this message in error, please promptly notify the sender by e-mail
> and immediately delete this message.
>
> To comply with IRS regulations, we advise you that any discussion of
> Federal tax issues in this e-mail was not intended or written to be used,
> and cannot be used by you, (i) to avoid any penalties imposed under the
> Internal Revenue Code or (ii) to promote, market or recommend to another
> party any transaction or matter addressed herein.
>
>
Daniela P. Romero
Law Office of Daniela Romero, APLC
1015 N. Lake Ave., Ste. 115
Pasadena, CA 91104
Telephone:626-817-2611
Facsimile: 626-628-1781
email: dromerolaw@gmail.com
NOTICE: This E-mail (including attachments) is covered by the Electronic
Communications Privacy Act, 18 U.S.C. 2510-2521. The information herein
is confidential, privileged & exempt from disclosure under applicable law.
This E-mail (including attachments) are intended solely for the use of the
addressee hereof. If you are not the intended recipient of this message,
you are prohibited from reading, disclosing, reproducing, distributing,
disseminating, or otherwise using this transmission. The originator of this
e-mail and its affiliates do not represent, warrant or guarantee that the
integrity of this communication has been maintained or that this
communication is free of errors, viruses or other defects. Delivery of this
message or any portions herein to any person other than the intended
recipient is not intended to waive any right or privilege. If you have
received this message in error, please promptly notify the sender by e-mail
and immediately delete this message.
To comply with IRS regulations, we advise you that any discussion of Federal
tax issues in this e-mail was not intended or written to be used, and cannot
be used by you, (i) to avoid any penalties imposed under the Internal
Revenue Code or (ii) to promote, market or recommend to another party any
transaction or matter addressed herein.
Another attorney told me that a similar thing happened to one of his clients.On Wed, Dec 16, 2009 at 3:13 PM, Shannon Doyle <sdoyle@blclaw.com> wrote:
Wow that sounds extremely heinous.
Shannon A. Doyle, Esq.
Borowitz, Lozano & Clark, LLP
100 N. Barranca Ave.,
Ste. 250
West Covina, CA 91791-1600
(626) 332-8600 Phone
(626) 332-8644 Fax
sdoyle@blclaw.com
From:
cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Daniela Romero
Sent: Monday, December 14, 2009
10:20 PM
To: CDCBAA
Subject: [cdcbaa] BofA added 94k
to principal in loan mod that client obtained
Approximately 9 months ago Client, without anyone's
assistance, obtained loan modification through BofA (Countrywide loan).
However, BofA added 94k to the principal. Client states she didn't really
understand what was going on and she only dealt with a BofA rep on the
phone. English is her 2nd language and nothing was explained or
translated to her native language, which is Korean. She has a very heavy
accent and even though she understands English and can communicate in English,
it's obvious that she should have at least had a translator since everything
was done over the phone.
I wrote BofA a letter demanding that they modify her loan again because the 1st
The post was migrated from Yahoo.