MissMyHome
Junior Member
What is the name of your state (only U.S. law)? Connecticut
We have not made a payment on our mortgage since April 2010. Bank of America filed a foreclosure suit, but withdrew it in 2013. That same year, we hired an attorney to help us negotiate with the lender to get our loan back in good standing. We provided all of the information requested and the case supposedly went to underwriting for approval. Shortly thereafter, we were notified that processing of our mortgage had been transferred to Carrington. I waited 60 days, as directed in the letter from Bank of America, then called Carrington to inquire about the status of our request for loan modification. They had no idea what I was talking about. Meanwhile, our attorney had closed her practice and moved to Florida.
This is a condo. We are not living there or paying condo fees. Several times, the condo association has foreclosed, but Bank of America has paid the overdue amount plus legal fees each time. The unit has sustained damage from burst pipes due to the poor winterizing performed by a company hired by Bank of America years ago. We made minimal repairs and lived there while we were waiting for the loan to be modified in 2013, but it is not what many would call habitable and could certainly never be rented in its current condition. We are afraid to sink a great deal of money into repairs, since the lender may suddenly decide to foreclose at any time. I have read that the statute of limitations in CT is 6 years for this type of contract and that any foreclosure started after that would not be successful. My questions are:
1) Is this true? If we stopped paying in May 2010, does BOA have to foreclose by May 2016 or forfeit the right?
2) Did we reset the timer when we asked for a loan modification in 2013?
3) Is there any other question I should be asking, any insight you can offer?
I have found information online from several seemingly reliable attorneys stating definitively that a loan modification request does not reset the clock. Only a signed modification agreement, would do that, being a written promise to pay. All of these attorneys practice in Florida, however, and I don't know if the law is different in Connecticut.
Thanks so much for your time. I appreciate any information you have to share.
We have not made a payment on our mortgage since April 2010. Bank of America filed a foreclosure suit, but withdrew it in 2013. That same year, we hired an attorney to help us negotiate with the lender to get our loan back in good standing. We provided all of the information requested and the case supposedly went to underwriting for approval. Shortly thereafter, we were notified that processing of our mortgage had been transferred to Carrington. I waited 60 days, as directed in the letter from Bank of America, then called Carrington to inquire about the status of our request for loan modification. They had no idea what I was talking about. Meanwhile, our attorney had closed her practice and moved to Florida.
This is a condo. We are not living there or paying condo fees. Several times, the condo association has foreclosed, but Bank of America has paid the overdue amount plus legal fees each time. The unit has sustained damage from burst pipes due to the poor winterizing performed by a company hired by Bank of America years ago. We made minimal repairs and lived there while we were waiting for the loan to be modified in 2013, but it is not what many would call habitable and could certainly never be rented in its current condition. We are afraid to sink a great deal of money into repairs, since the lender may suddenly decide to foreclose at any time. I have read that the statute of limitations in CT is 6 years for this type of contract and that any foreclosure started after that would not be successful. My questions are:
1) Is this true? If we stopped paying in May 2010, does BOA have to foreclose by May 2016 or forfeit the right?
2) Did we reset the timer when we asked for a loan modification in 2013?
3) Is there any other question I should be asking, any insight you can offer?
I have found information online from several seemingly reliable attorneys stating definitively that a loan modification request does not reset the clock. Only a signed modification agreement, would do that, being a written promise to pay. All of these attorneys practice in Florida, however, and I don't know if the law is different in Connecticut.
Thanks so much for your time. I appreciate any information you have to share.
Last edited: