A Manayunk foreclosure by Bank of America shows mortgage program’s flaws

It might make financial sense for Lisa Fiorilli to just walk away from her home in Manayunk — a tidy, three-story rowhouse on one of the neighborhood’s familiar, hilly streets that rise up from Main Street and the canal.

But Fiorilli, facing foreclosure after a two-year bureaucratic tangle with Bank of America over a mortgage modification, would rather stay and fight — even if her home is now worth less, as she says bank officials have suggested, than what she owes on it.

Fiorilli’s saga — backed up by a thick file of documents and call logs — is a story of a mortgage accommodation dangled and apparently snatched away for flimsy reasons, such as a phone payment that came in 35 cents short, and another payment that came in two weeks early. That’s no misprint: early, not late.

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