Bank of America told this couple that their house would go into foreclosure on Christmas Eve, which came as something of an anti-Christmas Miracle to them considering they had never missed a single mortgage payment.
The problems started when the couple looked into refinancing their home and asked the BofA loan specialist for the "cheapest" option available. That rep tentatively put them in the Federal government's "Making Home Affordable" program, which was developed to help people who are behind on their mortgages.
The couple decided not to use that refinance option but that rep's action put on their credit report that they were seeking a loan mod and sent out a credit destroying blast to all their creditors. Their credit card limits were reduced to $18,000 from $30,000, all their credit card APRs were jacked up to universal default levels, and other creditors started shutting down their accounts.
Only after escalating through several tiers of Bank of America and getting a lawyer were they able to get the bank to fix their credit report and stop the foreclosure action against their house, thus illustrating the two major principals of resolving hardcore customer service issues: 1. Escalate and 2. Get a lawyer.
Bank Of America's Christmas present: Foreclose Even Though Not A Payment Missed [CT Watchdog] (Thanks to Doo!)
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