Early Mortgage Payment Sets Off Foreclosure Outrage AARP Bulletin
Early Mortgage Payment Sets Off Foreclosure - Outrage - AARP Bulletin
Here's how it happened. Bullington and her husband, James, 78, had modified their mortgage, cutting payments on their one-story New Port Richey, Fla., home from $1,400 to $916. She mailed the first check on Dec. 23, 2010 — a mistake.
See also: Photo by Newscom James Bullington, 78, is terminally ill and bedridden. Sharon, 70, is his sole caregiver. In Bank of America's eyes the check was due Jan. 1, and the early check invalidated the modification. "It's like death to me," an emotional Sharon Bullington told the St. Petersburg Times. "I just don't understand why they're doing this."
Desperate, she wrote to bank CEO and President Brian T. Moynihan and was told the foreclosure couldn't be stopped. Bullington's congressman, Rep. Gus Bilirakis, R-Fla., contacted the bank on her behalf. "It is extremely frustrating to hear about cases such as these," he said. Bullington's St. Petersburg attorney, Shawn Yesner, 38, said, "I've seen some crazy stuff, but this is a first."
In August, Bank of America issued a statement admitting it "made an error posting" one of the Bullingtons' mortgage payments. It also offered the couple "a long-term affordable mortgage," and agreed to reimburse the couple for $1,800 in legal fees and waived late fees. That should resolve the matter, Yesner says. Also of interest: Blair S. Walker is a writer in Miami.
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Early Mortgage Payment Sets Off Foreclosure
Bank of America admits to posting error
After making her mortgage payment a week early, Sharon Bullington, 70, was stunned when Bank of America began on her home. Why? Because, she was told, she made the payment too soon.Here's how it happened. Bullington and her husband, James, 78, had modified their mortgage, cutting payments on their one-story New Port Richey, Fla., home from $1,400 to $916. She mailed the first check on Dec. 23, 2010 — a mistake.
See also: Photo by Newscom James Bullington, 78, is terminally ill and bedridden. Sharon, 70, is his sole caregiver. In Bank of America's eyes the check was due Jan. 1, and the early check invalidated the modification. "It's like death to me," an emotional Sharon Bullington told the St. Petersburg Times. "I just don't understand why they're doing this."
Desperate, she wrote to bank CEO and President Brian T. Moynihan and was told the foreclosure couldn't be stopped. Bullington's congressman, Rep. Gus Bilirakis, R-Fla., contacted the bank on her behalf. "It is extremely frustrating to hear about cases such as these," he said. Bullington's St. Petersburg attorney, Shawn Yesner, 38, said, "I've seen some crazy stuff, but this is a first."
In August, Bank of America issued a statement admitting it "made an error posting" one of the Bullingtons' mortgage payments. It also offered the couple "a long-term affordable mortgage," and agreed to reimburse the couple for $1,800 in legal fees and waived late fees. That should resolve the matter, Yesner says. Also of interest: Blair S. Walker is a writer in Miami.
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Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures