Bank of America Foreclosure Defense in New Jersey

Who owns the loan decides the options

The name on your statement is the servicer, which is not always the owner of the loan. A loan serviced by Bank of America may be owned by the bank itself, by Fannie Mae or Freddie Mac (Flex Modification), insured by FHA or backed by VA, or held in a securitized trust with its own rules. Each owner has different modification programs, so David identifies the owner in writing through a Request for Information before any application goes in.

Loans that originated with Countrywide or another lender have a longer paper trail. New Jersey courts require the foreclosing party to show that it held the note or a valid assignment before the complaint was filed, so David reviews the note, every assignment, and the payment history at the start of the case.

How David handles a Bank of America foreclosure

Every Bank of America case starts the same way: a complete review of your loan history, every notice you received, and the servicing file we request under federal rules. That review often turns up misapplied payments, fee errors, or a defective Notice of Intention to Foreclose, and each one is leverage.

From there David opens the loss mitigation process with a complete application, requests the court's Foreclosure Mediation Program if you are an owner-occupant within 60 days of service, and files the answer and any adjournments so the sheriff's sale clock stops running while Bank of America reviews your options. If Bank of America violates servicing rules during that review, David raises it with the court.

Your rights with any mortgage servicer

Federal servicing rules under RESPA (12 C.F.R. Part 1024) apply to every servicer named on this site:

• A servicer generally cannot make the first foreclosure filing until you are more than 120 days delinquent.
• It must acknowledge a loss mitigation application within 5 business days and tell you what is missing.
• It may not move for judgment or conduct a sale while a complete application received more than 37 days before the sale is under review ("dual tracking").
• You can send a written Notice of Error or Request for Information and the servicer must respond, generally within 30 business days.
• In New Jersey, the Fair Foreclosure Act adds a 30-day Notice of Intention to Foreclose before suit and a right to cure up to final judgment.