Town Square

Post a New Topic

Pleasanton Family Needs Your Help in Fighting Bank of America

Original post made by Kasee on Dec 5, 2012

Please read the Facebook page Bank of America Terrorizes the Zetterlund Family!!! Web Link

Our friends, Brad and Joan Zetterlund, have been fighting Bank of America for over three years for their home. They just stopped the second wrongful foreclosure process on their house.

This is the beginning of their story in their own words:

Here is our story: Brad and Joan Zetterlund – 4673 Canary Dr, Pleasanton, CA
In 2009, while in the middle of a simple refinance, the loan principle is doubled.
Although numerous attempts were made, no one at Bank of America would fix this balance.
Instead of fixing the balance, they stamped our loan foreclosed.
On August 10th, 2010 we received a call from Bank of America telling us that ou
r home of 16 years would be sold on the steps of the Alameda County Courthouse. They claimed that they had been talking to our attorney, Mr. Anthony, numerous times the week before – WE DON'T KNOW A MR. ANTHONY.
1 hour after our home of 16 years was sold, the investor who had purchased our home was on our front porch, with a 3 day eviction notice. We were in complete shock and could hardly breathe, sleep or eat for months. ( We ended up paying this investor $12,000 so they would not evict us from our home while we battled Bank of America)
...

Please visit their Facebook page to find out more details: Web Link

Then SHARE THE PAGE with your friends. All this family wants is the correct mortgage!

Comments (9)

Posted by Deek, a resident of Birdland
on Dec 5, 2012 at 5:48 pm

God bless you both Brad and Joan Zetterlund.


Posted by Sam, a resident of Oak Hill
on Dec 5, 2012 at 10:26 pm

I dunno. So the story is that "In the middle of a simple refinance, the loan principal is doubled." That's it? No further explanation of what happened? The loan amount was just suddenly and wrongfully doubled by the Bank of America without your knowledge? I feel that some important information is being left out here.


Posted by Arroyo, a resident of Another Pleasanton neighborhood
on Dec 5, 2012 at 10:36 pm

I hope the Zetterlunds find a resolution that resolves their mortgage problems. I would like nothing better than to find out that BofA had worked out a satisfactory resolution with them.

Bank of America is the absolute WORST at resolving mortgage problems. You would think they would be concerned about the negative publicity -- But, no, they keep on stomping honest citizens into the mud, with total disregard for the negative press they receive. A.P.Giannini must be spinning 5000 rpm's in his grave.

Bank of America managers and employees, aren't you the least bit embarassed at how your employer treats these customers?


Posted by hmmm, a resident of Another Pleasanton neighborhood
on Dec 6, 2012 at 1:07 am

Apparently the unions don't like B of A because they think the institution represents capitalism.


Posted by Arroyo, a resident of Another Pleasanton neighborhood
on Dec 6, 2012 at 5:28 am

I would like to apologize for my previous comment meant for the BofA employees. I've known many fine bank employees who have zero control over how their employer handles their business practices. It was unfair, a dumb statement, and I apologize.


Posted by Some Dude, a resident of Amberwood/Wood Meadows
on Dec 6, 2012 at 6:26 am

Why do so many takers blame the job creators for their woes? If you're not rich enough to pay the mortgage, it's your own fault. It's about character, people. In America, we recognize that wealth equates to wisdom and goodness--that's what makes us great! The other 47% of you can work out what the rest of the equation implies.

Don't want to live in a free country with free markets? Fine. Move to the Soviet Republic of China.


Posted by Chipper, a resident of Walnut Hills
on Dec 6, 2012 at 8:17 am

Bank of America is one of the biggest, wealthiest, and hence successful banks in the world. That's why I support it. Think of all the jobs it creates. Why should we be concerned about a wee family or two that has been inconvenienced? In free market capitalism profit is the bottom line. BofA is doing something right, IMHO. People run into a snafu or two, but they need to be strong, start working a second or third job. Then they can buy a new house, start all over, and maybe start up their own bank to compete against BofA. Less complaining and more living the American Dream would be nice, wouldn't it?


Posted by Nancy s., a resident of Another Pleasanton neighborhood
on Dec 6, 2012 at 9:50 am

@chipper...yeah, you are what is wrong with society. show some compassion. Believe me B of A isnt the bank to throw laurels at. Re: the borrowers; first of all, there is no way their principaled doubled during the refi unless they were paying a negative amm mortgage and their previous payments were not even covering the full interest payment. Also, they could have stopped the refi if it truly, for no reason at all, as they state their principal doubled


Posted by Sam, a resident of Oak Hill
on Dec 6, 2012 at 10:14 am

Nancy said: "there is no way their principaled doubled during the refi unless they were paying a negative amm mortgage and their previous payments were not even covering the full interest payment. Also, they could have stopped the refi if it truly, for no reason at all, as they state their principal doubled."

Yes, I don't think that the author of this post has been entirely forthcoming about all the circumstances of this strange refi which resulted in the apparent doubling of the principal. So I'm not ready to condemn Bank of America for what has happened here.

I found that there was a SF Chronicle article on the Zetterlund's situation back in May of last year (Web Link). The article points out that before the latest refinance the Zetterlunds owed $400K on a house worth $700K. A quick check on Zillow shows that this house was last sold in 1994 for $280K. So if the family owed $400K before the latest refinance they apparently had already taken out at least $120K (=$400K-$280K) in one or more cash-out refinancings before this latest troubled refinance.

This doesn't necessarily mean that the family did anything wrong in the latest refi and it's still possible that Bank of America is at fault. But, again. I think that there must be much more to the story here than the author of the post has revealed.


If you were a member and logged in you could track comments from this story.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: *

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Tough new rules on water are necessary
By Tim Hunt | 10 comments | 1,059 views

Circumstances without Pomp
By Roz Rogoff | 2 comments | 862 views