Danielle Kelley: Quick foreclosure is not a solution

I am in foreclosure. Although I am not proud of that, I know my foreclosure is not my fault.

After dealing with a horrible predatory loan on our home, we were able to get a new fixed-rate, conventional loan. From the date of closing, our payments kept increasing little by little until they were so high something seemed wrong. When we called Bank of America to inquire, we were told we needed a loan modification. Because we were current on our payments, we were not showing an “inability to pay,” so we were told to make a partial payment and then apply for the modification. We did this. Then we were told we would have to stop payment altogether in order to qualify. Our partial payment was returned to us.

While still trying to understand what Bank of America wants from us now, and actively negotiating for a loan modification, we are in foreclosure.

I am an attorney and represent homeowners who are also going through the same horror. Why am I telling you? Because I fear the passage in the Legislature of HB 87 and SB 1666.

Rest here…