Loan Modification Forum - LoanSafe.org - View Single Post - Bank of America loan mod -SUCCESS!!

2much2pay · 07-04-2009, 11:11 PM

Hello LHarvey,

I was wondering if you or anyone in here could help me figure out some numbers? My account has been messed up and I am just now noticing it. Actually I started noticing it when I couldn't keep up with the payments in March. Right now BofA is trying to fix my account and I want to make sure that everything will be correct.

I have a 20 year loan. My account saysI have 18 years and 2 months left. Balance is 110,321. I asked the rep once the account is fixed will the balance go down because my account is not reflecting 2 plus years of payment. She told me no balance will remain the same. All we are correcting is the loan date and the maturity date. They had my loan starting in May '07. My concern is, will the balance change? How do I figure out the numbers?
I signed the papers in June '04. My loan was the 2/1 buydown. 1st year rate 5.25, 2nd 6.25, 3rd and locked is 7.25. In 2008 I had a partial claim and got interest reduced to 6.375.
Please help me figure out my balance. I was denied a modification in June because I asked about the inaccuracies of my account. Until my account is correct they will not be able to work on my file. Thanks in advance.

07-04-2009, 11:11 PM	#137 (permalink)
2much2pay Senior Member Join Date: May 2009 Posts: 136 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bank of America loan mod -SUCCESS!! Hello LHarvey, I was wondering if you or anyone in here could help me figure out some numbers? My account has been messed up and I am just now noticing it. Actually I started noticing it when I couldn't keep up with the payments in March. Right now BofA is trying to fix my account and I want to make sure that everything will be correct. I have a 20 year loan. My account saysI have 18 years and 2 months left. Balance is 110,321. I asked the rep once the account is fixed will the balance go down because my account is not reflecting 2 plus years of payment. She told me no balance will remain the same. All we are correcting is the loan date and the maturity date. They had my loan starting in May '07. My concern is, will the balance change? How do I figure out the numbers? I signed the papers in June '04. My loan was the 2/1 buydown. 1st year rate 5.25, 2nd 6.25, 3rd and locked is 7.25. In 2008 I had a partial claim and got interest reduced to 6.375. Please help me figure out my balance. I was denied a modification in June because I asked about the inaccuracies of my account. Until my account is correct they will not be able to work on my file. Thanks in advance.