Arizona Woman Dodges BofA's Foreclosure Sale Of Home Out From Under Her; Servicer Failed To Cancel Auction Despite Granting Loan Modification Deal

In Scottsdale, Arizona, KPHO-TV Channel 5 reports:

• Debbie Obroc nearly lost her home to foreclosure, despite being granted a government loan modification. “I just can’t believe that your home could be sold out from under you,” Obrock said. Obrock said Bank of America failed to stop the foreclosure process, even after signing her up for modified payments in July. She learned her house was up for auction last week by coincidence when a neighbor saw Debbie’s home on a list of foreclosure sales and called to let her know she was about to lose her home. “I was shocked,” Obrock said. “I thought it was a mistake.”

• Last minute calls complaining to Bank of America stopped the sale, but Obrock fears she could lose her home. “I ended up going to the trustee sale just to make sure I could see for myself my home wasn’t being sold,” she said. “I’m still extremely nervous. I can’t believe that this is the system.”(1)

For the story, see House Accidentally Put Up For Auction.

(1) One attorney called banks “blind octopus.” He said they have many tentacles that are unaware of what is going on with each other. “They don’t know what one hand is doing with another and they don’t communicate very clearly,” he said “They don’t say, ‘Oh I see you’re working on a modification so I won’t go forward with the trustee sale.’ You have to specifically request that. You have to be diligent with that.” He said homeowners should be aware that even as they continue to negotiate for a modification with their bank, the foreclosure process is moving forward. ForeclosureLockOuts