James Frangella, Monterey, Carmel, Pacific Grove real estate specialist
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* Sung to the tune “I fought the law and the law won”

Bank of America just got CHOBOR’ed by our attorney!

Gee, nothing like getting it done by the skin of our teeth.  What a hair-pulling, nail-biting experience to pull this one off!

My seller had spent months and months trying to save the family home from the jaws of Bank of America’s foreclosure process.  They applied for a loan assumption, a loan modification (approved then declined), a ridiculously unnecessary short sale and every foreclosure alternative in the book.  Finally, BofA was forced to postpone the Trustee Sale by court order.  Hiring the right attorney was a good thing.  

This all means that the seller is able to keep money in their pocket.  The bank can’t have it all.  Some but not all.  Of course, it wasn’t cheap for the seller but tapping into the equity with a regular sale was far better than anything the bank had to offer.

 The most difficult part of this entire mess was communicating with Bank of America.  The   short sale department was cool but trying to explain to numerous 20 year-old box checkers that we didn’t need a short sale was frustrating.

Of course the short sale application was denied once the BPO came in higher than the amount owed, which was what I was trying to explain to them all along.  So they send me off to a Case Manager assigned to the account.  It’s really hard to believe big corporations provide such poor service.  No wonder BofA is too big to fail.  They’re so big that they succeed in failing – profitably, I might add.

My phone log for July 19th, 2013 Friday at 5:41am

I placed a call to 800.669.6650 and punched in the loan number.  The call was routed immediately to a Suzette Eley (pronounced “ee-lee”).  She is the Case Manager.  After spending several minutes verifying loan account number, name of borrower, address, social security number at which time I was placed on hold on two separate occasions during my call as she “researched” information, I was then told she was not authorized to speak with me.  I explained that I faxed the 3rd party authorization form with supporting documentation on Monday the 15th and verified by BofA Customer Service on Thursday the 18th.  She again told me she was not authorized to speak with me.  I demanded to speak with the legal department.  I was then transferred to the Estate Department


After giving the representative from the Estate Department the loan verification information (loan number, name, address, etc.), they offered their condolences to the family survivors.  How nice.  Then she told me that she was not authorized to speak with me.  I again demanded to speak with the legal department.  She suggested I speak with the Assumption Department instead.  I was then transferred.


Spoke to a Stan Guevara of the Assumption Department.  He explained that he needed a copy of the death certificate, a request letter (with loan number) for authorization from the surviving trustee and a court document naming the seller as executor of the estate.  I was told to fax to 866.200.5596 and that it would take 7 to 10 business days to process at which time the seller or I would be authorized to speak with them regarding this loan.  I tried to explain to Stan that I had faxed the authorization and supporting documentation months ago as I was authorized to process the short sale application.  I also mentioned that we didn’t have 7 to 10 business days as the Trustee Sale was scheduled for the following week. 

“I have a fully-executed purchase agreement for much more than owed.  I need to postpone the TS now, please?”  I’m on my knees begging even though he can’t see me - we’re on the phone but I do it for effect.

“I’m not authorized to speak with you.”  Those were his last words as the line goes dead.  Tears roll down my cheeks as I get up from my knees.  I need Superman or an angel.  Either one will work as I'm not picky right this minute.  I immediately call an attorney friend, who happens to be one of my surfer buds.

He requests that we meet him at his office in Monterey this weekend.  Do attorneys charge time and a half on weekends?  But before I go any further, you all need to know who this guy is – Anthony D. Davi, Attorney-at-Law and Angel-from-Heaven.  Says so, right on his card too.

By Monday morning, the homeowner and I have completed our declarations and Anthony had researched the California Home Owner’s Bill of Rights (CHOBOR), which was passed in January of this year.  He is now an expert on CHOBOR.  It appears Bank of America was practicing “dual tracking”.  Bad bank … bad, bad, bad!  Anthony is going to give BofA a legal spanking.

By Wednesday afternoon, our Angel from Heaven wins the court’s approval for a Temporary Restraining Order (TRO) against Bank of America’s scheduled Trustee Sale for this coming Friday.  Wouldn’t it be nice if Mr. Davi goes after them for punitive damages for emotional duress and of course, attorney’s fees?

Pull your pants down, Bank of America.  Your bare bottom might be black and blue real soon. 

Stay connected for more on this story and also an audio clip of BofA's plangent paddling.

NEWS FLASH!  Our local Superior Court judge sides with our position and orders BofA to pay attorney fees.