New Orleans Tomorrow in Phoenix Advocates & Actions will release a report called “Modification Mysteries:  Playing Foreclosure Roulette with the Banks.”  The report will not only document the huge ineptness of the Treasury Department and the banks in handling foreclosure modifications (as I discussed last week less than $250 million has been spent of the $50 billion TARP money set aside to prevent foreclosures according to testimony by the TARP inspector general to Congress!), but also the total indifference, program misunderstanding, and frankly incompetence of the way the banks have handled homeowners desperate for relief to prevent foreclosures.

The report details a number of cases where families have allowed Advocates & Actions to use their information.  A typical horror tale is found in the situation of Jorge and Maria Carillo who are trying to save their Phoenix area home from Bank of America and its ineptness.

The contemporaneous notes speak for themselves.  Read and weep with them!

Case #1:  Jorge and Maria Carillo

11/16/2009	Case was submitted via e-mail along with all required docs
11/25/2009	Case and docs were received by bank on Nov 19th, On August 20,2008 a modification was done, But all docs  have needed are in system need to wait 30 days for review
12/19/2009	Gena- Case is still under review, follow up 12/28/09
12/28/2009	Sandy- Stated that case was under review, stated that client  needed to make regular payment to stop foreclosure
1/7/2010	Jesse- Packet is complete and under review
1/14/2010	Daniel-Stated that Mod was approved but it can remain in Negotiators Dept  up till two months , Neg should call client and client should received packet.
1/20/2010	Claudia- Asked about a change in financial info, advised that client should  make at least some payments in order to show good faith, case is still under review at negotiators dept
1/29/2010	Esther- Stated that case continues to be under review
2/5/2010	Edgar- Case ins on the final stages of beign reviewed  was put on fast track program but it can take up 2 weeks to get an answered form investor and negotiator
2/11/2010	Katie- Case was taken off foreclosure proceeding list on  Jan 2, 2010
2/16/2010	Alicia- Advised that we should send a letter to  Correspondence Dept  to see why case is taking so long
2/22/2010	Tracy- Escalated case up Dept Manager
2/26/2010	Isabelle- Case being reviewed reason for delay is high volume, but  case doesn’t have foreclosure
3/2/2010	Nicole-March 1st case is denied , was transferred to Several Depts until I came to Loan Advocacy
3/2/2010	Barbra-Advocacy Stated that her dept only handles non profit, but made an exception according to her system case was still under review was not denied, according to her there were new notes since Nov 2009. Case never had assigned neg stated that she would assign someone
3/4/2010	Christopher- Hope Dept – Stated that his Dept only educates once client receives work out packet
3/4/2010	Loreta-Home Ret- Stated  Bank of America was unable to provide assistance , and that case was cancel March 1.  But had no answer of why the denial Tolvina-Home Retention Supervisor-Stated that case had no specific details  but believed it was for financials – Asked to resubmit financials
3/12/2010	Hector- Home Ret- Put a red flag on case to see if case can be reviewed
3/19/2010	Client was told that it would take 20 days for Bank of america to see what is going on with account
3/30/10:	Andrew-Home Res- Stated March 2  case is under review, but case was denied because on non compliance
4/12/2010	Jennifer- Stated that letter explaining account was in route by the end of the week ‘
4/27/2010	Mike-Stated that case still pulls up as being reviewed but client has received letter of denial since April the 14th , Asked to resubmit her financials.
5/5/2010	Gotham-Home Ret- Client was pre approved for the MHA program, Client should receive packet within the next weeks , provide proof of income
5/26/2010	Client brought RMA packet sent by Bank of America.
Notes: 4/27	This case was submitted to the Advocacy Dept that only handles cases from non-profit. Case was under review but there was never a negotiator assigned , once case was denied no one seem to know why or the reason or why it had taken so long for case to reviewed. Also up to this date case continues to show up in the system as being reviewed. So now bank of america is asking for financials to resubmitted to see if they can help her
Notes: 6/09	As of now bank of america doesn’t know why she was denied, so we just restarted case from the beginning. After seven months we need to restart case and be reviewed for an additional 30-90 days