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

2much2pay · 07-05-2009, 10:58 AM

LHarvey,

BofA just corrected the start date of the loan. They had my loan starting on May '07 but I purchased my home in June '04. Did not refinance, loan was transferred to Countrywide from National City. When they made the transition they had keyed in wrong information. That part has been corrected. My account does say loan was intiated in '04 instead of '07. Now the other part of the issue I am concerned about is the payments that have not posted. If you look at my account, it says I have only made 22 payments. What did I do the rest of the time I was living in the home? The partial claim payment was for 12 months (got it in Oct. 08) and that should be deducted from the balance because I have to pay back HUD. I will try my best to explain this....
I bought the house in June of '04. It is now July of '09. The remaining payments left should say 15 yrs and 5 months. Would the balance still be 110? I didn't count the 4 missed payments for this year. They also have the maturity date to end in July 2027. It should be July 2024. If it ended in 2027 I would be paying an extra 3 years.
The reason the mod got denied was because of the account not being accurate. He said he was basing the numbers he came up with on what the account has. If the terms and the years left on the loan was not correct he would have to deny the offer until I got the account fixed because the payment amount should be less than what he figured. Right now I am still waiting for them to fix it. I have a negotiator assigned already but she has been told to hold on until all corrections have been made to the account. I just want to make sure that when she calls me to tell me the account has been fixed everything is correct. They are trying to work with me on the modification. I hope I didn't confuse you..

07-05-2009, 10:58 AM	#140 (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!! LHarvey, BofA just corrected the start date of the loan. They had my loan starting on May '07 but I purchased my home in June '04. Did not refinance, loan was transferred to Countrywide from National City. When they made the transition they had keyed in wrong information. That part has been corrected. My account does say loan was intiated in '04 instead of '07. Now the other part of the issue I am concerned about is the payments that have not posted. If you look at my account, it says I have only made 22 payments. What did I do the rest of the time I was living in the home? The partial claim payment was for 12 months (got it in Oct. 08) and that should be deducted from the balance because I have to pay back HUD. I will try my best to explain this.... I bought the house in June of '04. It is now July of '09. The remaining payments left should say 15 yrs and 5 months. Would the balance still be 110? I didn't count the 4 missed payments for this year. They also have the maturity date to end in July 2027. It should be July 2024. If it ended in 2027 I would be paying an extra 3 years. The reason the mod got denied was because of the account not being accurate. He said he was basing the numbers he came up with on what the account has. If the terms and the years left on the loan was not correct he would have to deny the offer until I got the account fixed because the payment amount should be less than what he figured. Right now I am still waiting for them to fix it. I have a negotiator assigned already but she has been told to hold on until all corrections have been made to the account. I just want to make sure that when she calls me to tell me the account has been fixed everything is correct. They are trying to work with me on the modification. I hope I didn't confuse you..