Edda Lopez entered into an agreement with her previous mortgage company under a federal program, the Home Affordable Modification Program.
Edda complied with the three-month trial period and was then notified that her trial-period mortgage payment would be fixed for the next five years, at $2100/mo.
Unfortunately, once Bank of America took over the servicing of her mortgage, they reneged on this agreement, and increased her payments to $3100/mo. When Edda called Bank of America to find out why her payments had increased, she was told that her home was already in foreclosure and set to auction on June 28.
It is difficult to interpret Bank of America’s decision as being anything other than willfully cruel. Ms. Lopez is a disabled widow who nonetheless complied with her agreed-upon mortgage amount, and is now facing homelessness after living in her home since 1996.
If you agree with me that this is wrong, please go to http://showdowninamerica.org/edda-lopez-petition and sign the petition.