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TJ, Esq.
TJ, Esq., Attorney
Category: Real Estate Law
Satisfied Customers: 9833
Experience:  JD, MBA
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I was approved by Bank of America a loan modification last

Resolved Question:

I was approved by Bank of America a loan modification last May 28, 2013 after I have gone through 3 months trial period. They have sent me an agreement paperworks that state my new monthly mortgage almost very close to my 3 months monthly payments. However, the loan account was sold to another bank "Green Tree Servicing LLC" in June 2013 and Green Tree doesn't appear to recognize the loan modification that BOA I have agreed upon. I have faxed twice and post mailed to Green Tree the agreement contract but they keep claiming that they have not received anything. Green Tree sent me letters every week stating I am at default therefore is now facing a foreclosure. What do I need to do now? This situation takes too much of my time and it seems like banks are playing games with me.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  TJ, Esq. replied 1 year ago.
Hello and thank you for allowing me the opportunity to assist you.

When was account sold? Was it before or after you accepted the loan mod and mailed back the signed documents?
Customer: replied 1 year ago.


Thank you for your quick reply. The answer is after the loan mod and mailed back the signed documents.

Customer: replied 1 year ago.


Just to make sure I answer the question correctly, Bank of America informed me on the phone after they have received the loan modification agreement I signed (around May 23,2013) , that the loan will be soon be transferred to another bank. The manager assigned from BoA told me that I will receive notification/ statements from the new bank around mid of June 2013.

Expert:  TJ, Esq. replied 1 year ago.
Hello again.

Since the loan mod was executed and mailed back to BoA before your account was sold, I think that you have a strong argument that the loan mod is enforceable. The reason is simple: BoA offered you a loan mod, and you accepted it while BoA still owned the account. Whatever happened to ownership of your account after you accepted the loan mod is irrelevant to the loan mod. The loan mod became enforceable when you delivered the executed documents to BoA.

Unfortunately, it is not at all surprising that Green Tree lost the documents that you sent it. That is so common I would almost be surprised if they acknowledged that they received the documents.

If I were you, I would try to get BoA involved. I would request copies (if BoA has them) of what you sent it. I would ask for a manager at Green Tree, explain what has happened, and get the manager's contact info. I would then ask BoA to send the documents to the manager, and I would send copies yourself as well. If Green Tree still gives you the runaround, then you could retain an attorney to handle this for you. It would probably cost you $1000 (give or take), but the attorney would likely get results because requests from an attorney generally get the attention of upper management and/or legal departments. If Green Tree has involved a foreclosure attorney already, you could also send the documents to the attorney. The foreclosure attorney would likely be able to deal with it from his end as well.

Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied. Also, your positive feedback is much appreciated. Thank you for using our service!

If you would like to direct additional legal questions to me in the future, then please type "To VAMD" in the subject line of your question.
TJ, Esq., Attorney
Category: Real Estate Law
Satisfied Customers: 9833
Experience: JD, MBA
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