By Henni Espinosa, ABS-CBN North America Bureau
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San Francisco, CA. – Estela and Steve Sullivan thought they could breathe a sigh of relief when their lender, Bank of America approved their loan modification application last year.

From $3,500, their mortgage payments would be cut down $2,700 — $800 less every month.  Estela said this was much needed relief.  Her husband is only on disability benefits and her son just lost his job.

Estela said, “It’s a blessing.  We really needed help.”

But this month, the Sullivans received a letter from Bank of America telling them they owe $18,000 in unpaid mortgage payments.   They said this means that their lender never really modified their loan.

“I’m shocked.  What about our agreement?” Estela lamented.

Steve pointed out, what good would a Notice of Agreement between lenders and homeowners do, if lenders just end up breaking the deal?

The worst part, he said, is in knowing they could lose their 6-bedroom San Francisco home.

Steve said, “There’s no guarantee that we won’t be able to stay here.  That’s my worst fear.”  The Sullivan couple refuses to pay up the $18,000 balance.

They said they have been trying to contact Bank of America but their calls have not been returned.

Steve said they have consulted two attorneys, possibly to sue the bank if they fail to take action.  “They’re both willing to work on the case but it’s going to be a major expense for us.  Either way, we lose money,” said Steve.

Balitang America tried to contact Bank of America for comment.  The bank’s media relations officer responded in an email, saying that they are looking into the Sullivans’ case.

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