Foreclosed Home Sold While Owner On Phone With Bank

Man Says Bank Told Him Sale Was On Hold

An Arvada man’s foreclosed home was auctioned off, while he was on the phone with the bank.

The sale comes after reassurances that his case was under review.

"It's not just property to me. It represents my life's work,” said Ray Vigil, who has owned his home for nearly 14 years.

"I don't know how soon I'll be required to move out. But I know I probably better start packing,” said Vigil.

Vigil said he went through tough times but said Bank of America agreed to possibly modify his mortgage. In March a spokesperson sent 7NEWS confirmation that the sale was on hold.

"As long as the modification was under review, that foreclosure sale will not go through," said Vigil.

On Wednesday afternoon, the home was sold at an auction as Vigil pleaded for help from the bank. He said he was never told that anything had changed.

"As recently as this morning, they still requested documentation,” said Vigil.

Vigil told 7NEWS he's made payments for the past 16 months and thinks he deserves a second chance. He also wants some consistency from the bank. Until Wednesday, he thought he was safe.

"'You did everything you can do. You should be able to live with that.' Well, it’s hard to live with that. I do feel like I've done everything I can do. I'm just not ready to quit fighting," said Vigil.

Bank of America released this statement to 7NEWS concerning the sale of Mr. Vigil’s home:

    "Bank of America requested a postponement of the foreclosure sale. However, the mortgage investor declined the request due to the amount of delinquency on the account and other financial information that appear to make completion of a loan modification unlikely within the investor’s guidelines."

    "While it is uncertain a modification can be completed, if Mr. Vigil wishes to continue the process, the bank’s negotiator will work with him and his representative to complete documentation requirements so that a final determination whether it is or isn’t possible to modify his loan can be made."

    "If a feasible modification solution meeting the investor’s guidelines can be found based on further review of all required financial information, a request may be made to the investor for the sale to be rescinded. Any decision to rescind the sale rests with the investor."

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