Posted on: 06th Jul, 2011 02:12 pm
08/2000 my mother took a home loan through countrywide.
10/2002 we called countrywide and asked about adding me to the mortgage and were told to do a simple assumption by adding my name to the deed and sending $100 assumption fee. done- name was added to mortgage under my mothers name and started reporting to my credit report as well. my mother moves back to philadelphia and i assume all responsibility for the home.
04/2004 mother files chapter 7 and discharges debt for the home loan.
04/2009 i file bankruptcy but reaffirm the home loan.
04/2009 boa takes over servicing the loan and does not change anything on the loan.
05/2010 i speak to a woman at the home loans dept and she suggests we get my mothers name off the mortgage. i receive a paper from boa for my mother to sign making me the primary borrower and she the co borrower. we never mailed the paper as we were fine with the loan the way it was.
12/2010 boa removes my name from the mortgage claiming they have no record of me ever doing a simple assumption. after several faxes and requests for documentation, i go into my local branch who agrees to waive the simple assumption fee of $100.
06/2011 all documentation and a letter from my mother requesting i be added back to the mortgage as we had originally worked out with countrywide is faxed over to boa simple assumption dept.
07/2011 i receive a letter from boa that states they reviewed my request and that they will allow the title transfer this once instance without accelerating the loan payable upon sale but if i want to be financially responsible i would have to refinance.
i was on the mortage for 8.5 years before they just deleted my name and told me to prove i did a simple assumption. cw never provided any paperwork for verification, i couldn't get a copy of my cancelled check for the assumption because it was past the legal sol. i sent the original quit claim deed where my name was added, the florida homestead exemption from me taking over the house, insurance declaration pages showing both of us as homeowners going back to 2003, copy of my credit report showing it was reporting to my credit, my reaffirmation of the debt thru bankruptcy, birth certificates and social security cards. i more than proved i was a co borrower for the last 9 years but they absolutely refuse to cooperate. they didn't even offer to do the simple assumption for the $100 fee.
this was all done years ago so that when my mother hit end of life my son and i would have a place to live. she is in that period and boa is basically telling me too bad, so sad unless you can refi in your own name we're not putting you back on the loan. if my mother passes away, i will lose the house because i have no way to refinance the loan in my name. it just doesn't seem right that they can just delete my name on a whim and i'm wiped out of 10 yrs of payment history, equity and homeownership.
10/2002 we called countrywide and asked about adding me to the mortgage and were told to do a simple assumption by adding my name to the deed and sending $100 assumption fee. done- name was added to mortgage under my mothers name and started reporting to my credit report as well. my mother moves back to philadelphia and i assume all responsibility for the home.
04/2004 mother files chapter 7 and discharges debt for the home loan.
04/2009 i file bankruptcy but reaffirm the home loan.
04/2009 boa takes over servicing the loan and does not change anything on the loan.
05/2010 i speak to a woman at the home loans dept and she suggests we get my mothers name off the mortgage. i receive a paper from boa for my mother to sign making me the primary borrower and she the co borrower. we never mailed the paper as we were fine with the loan the way it was.
12/2010 boa removes my name from the mortgage claiming they have no record of me ever doing a simple assumption. after several faxes and requests for documentation, i go into my local branch who agrees to waive the simple assumption fee of $100.
06/2011 all documentation and a letter from my mother requesting i be added back to the mortgage as we had originally worked out with countrywide is faxed over to boa simple assumption dept.
07/2011 i receive a letter from boa that states they reviewed my request and that they will allow the title transfer this once instance without accelerating the loan payable upon sale but if i want to be financially responsible i would have to refinance.
i was on the mortage for 8.5 years before they just deleted my name and told me to prove i did a simple assumption. cw never provided any paperwork for verification, i couldn't get a copy of my cancelled check for the assumption because it was past the legal sol. i sent the original quit claim deed where my name was added, the florida homestead exemption from me taking over the house, insurance declaration pages showing both of us as homeowners going back to 2003, copy of my credit report showing it was reporting to my credit, my reaffirmation of the debt thru bankruptcy, birth certificates and social security cards. i more than proved i was a co borrower for the last 9 years but they absolutely refuse to cooperate. they didn't even offer to do the simple assumption for the $100 fee.
this was all done years ago so that when my mother hit end of life my son and i would have a place to live. she is in that period and boa is basically telling me too bad, so sad unless you can refi in your own name we're not putting you back on the loan. if my mother passes away, i will lose the house because i have no way to refinance the loan in my name. it just doesn't seem right that they can just delete my name on a whim and i'm wiped out of 10 yrs of payment history, equity and homeownership.
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I'm sorry did I say something to offend you Markomaznik? Did you have something constructive say about my post? I would appreciate any help I could get here.
Its a scam. Dont click or contact that person...To answer your post, you are on title correct? If you are on title to the property along with your mother, and you can prove for the last 12 months that you have made the payment on the loan, then any lender should take this as a refi. No offense, but BOFA is worthless. I have heard they could be exiting the lending market. Anyways, if you have been on title for the last 12 mos and have the cancelled checks to show you have vested interest, then you should be able to quitclaim your mother off the title, get the loan in your name, and then add your mother back to title, if she would like. Let me know if you need a contact for your area. Good Luck!
Yes I have been on the title since 2002 through a quitclaim deed that was forwarded to Countrywide as soon as it was done. My name was on the mortgage thru countrywide for 8.5 years before BofA took it upon themselves to delete me. I thoroughly agree with your opinion of BofA. I've never dealt with such incompetence in my life!
My mother could really careless about the property as I've been 100% responsible for it since 2002. It makes no difference to her whether her name is on it or not. Our whole purpose in adding my name to the title and doing a simple assumption of the mortgage was so that when she came to end of life, as long as I made the payments, the house would automatically transfer to me along with the remaining liability because I am not in a position to finance anything being low income. If I were able to go out and get refinanced, it would have already been done just to avoid having to deal with the unprofessionalism at BofA.
I just want to make sure that if my mother passes away BofA can not force me out of the home because I cannot qualify. Gees, we're talking about $17k owed on a property worth about $30k BUT it is a mobile home and land financed with conventional jumbo fanniemae mortgage.
I wouldn't mind talking to that contact here in Florida. I'm in Marion County. Thanks so much for your reply.
My mother could really careless about the property as I've been 100% responsible for it since 2002. It makes no difference to her whether her name is on it or not. Our whole purpose in adding my name to the title and doing a simple assumption of the mortgage was so that when she came to end of life, as long as I made the payments, the house would automatically transfer to me along with the remaining liability because I am not in a position to finance anything being low income. If I were able to go out and get refinanced, it would have already been done just to avoid having to deal with the unprofessionalism at BofA.
I just want to make sure that if my mother passes away BofA can not force me out of the home because I cannot qualify. Gees, we're talking about $17k owed on a property worth about $30k BUT it is a mobile home and land financed with conventional jumbo fanniemae mortgage.
I wouldn't mind talking to that contact here in Florida. I'm in Marion County. Thanks so much for your reply.
Your best bet is to go to your county recorder and make sure you are still on title. Have your mother put together an airtight will. Have the title set up as joint tenants, so that when she passes, you are the person holding right of survivor-ship. If you continue to make the payments, the lender will not foreclose, even though your mother may have passed. Protect yourself with the title. Maybe contact a RE lawyer to make sure your title and will is tight.