Legal Question in Real Estate Law in California
Since May my home mortgage company Bank of America N.A. started calling us 3 times a day until we paid them. Keep in mind we always paid within the grace period, except now they start calling us on the 2nd (day after payment due) until we paid it. I asked them to stop calling me so frequently and was told like always they make a note of that in the system. I finally sent a Cease and Desist letter that was delivered on July 19, 2011, and then recieved a letter from them dated July 25,2011 that they had recieved my letter and would now only communicate by mail.
Since my husband lost his job we have missed our August and September payments and they were kind enough to send us a "Notice of Intent to Acceerate" letter. It says if we do not pay our last 2 payments by October 12 that foreclosure proceedings will be initiated at that time.We have gone to them for help (last week) because we want to keep our home. My husband answered all the questions,and we still haven't heard from them. Instead the calls have begun again 3 times a day. What are my rights? Because I feel like we are being punished for doing things the right way.
2 Answers from Attorneys
I find it VERY strange that a bank is calling a borrower about an overdue loan payment at all, much less three times a day. No other client has ever mentioned frequent telephone calls regarding a missed mortgage payment. Maybe they are running a test program on you. Much more commonly, borrowers complain that the were foreclosed upon and the lender never contacted them. Many of these cases, I think, are because the borrower tosses the letters from the lender in the wastebasket without opening them, or if they open them, they don't understand the legalese and lenderese gobbledygook.
It's also interesting that you received a "Notice of Intent to Accelerate" rather than a more conventional "Notice of Default." A standard Notice of Default is a prerequisite to foreclosure by trustee sale under the Civil Code; see section 2924(a)(1), (2) and (3).
Is there anything unconventional about your loan? The bank's procedures don't fit the mold.
Was your loan always from Bank of America?
Or was it from Countrywide, most of those have problems
if you could send more details I could check them.
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