My client Lynne in Northern Michigan who is now enduring chemotherapy received a call from a gentleman at Bank of America’s Simi Valley office on Friday saying they were going to rescind the foreclosure and work with them on a modification. Well, now Bank of America has changed their tune. They’re saying they won’t do anything because it’s Fannie Mae’s problem.
After eight weeks of insisting they own her note and mortgage and they are now claiming Fannie Mae owns it and there is nothing they can do. Here’s the problem, Fannie Mae foreclosed on a mortgage they did not own. This is a direct violation of Michigan statute MCL 600.3204. According to the Benzie County Register of Deeds, Bank of America owned this mortgage at the time of the foreclosure. Barbara DeSoer’s office told my assistant and myself repeatedly that they owned this mortgage and now they are claiming this is Fannie Mae’s problem.