Loans, Debt & Credit - View Single Post - Any Luck with Bank of America + Home Affordable Modification?

aurers · 08-03-2009, 11:48 PM

Hi everybody.

I've been trying to get a loan mod since October 2008. First I was denied b/c I wasn't delinquent. Feb 2008 I tried again and B of A said the private investors declined my application. Stopped paying June 2008. Have missed June & July payments. After talking to 4 different representatives, I kept getting declined due to the private investors decision to not participate in the Making Homes Affordable program. (My 1st and 2nd loan are with B of A, but the 1st is with private investors). On July 31st, I spoke to Jared who said the investors weren't willing to budge lower than 4%. However, that would switch my loan to pay principal & interest (I'm currently interest only ARM that adjusts next year) -- my payments would be $200+ more a month plus $375 per month for 12 months to catch up to my missed payments. I said no. I have read about other people on the different threads who have gotten both their B of A mortgages modified. That's what I'm trying to get.

I emailed a bunch of B of A execs as suggested by another thread on this website and the office of Barbara Desoer (barbara.j.desoer@bankofamerica.com) contacted me. Stacy Adams contacted me today and said she is going to contact the private investors on my loan to discuss the Making Homes Affordable program.

I would highly suggest emailing the B of A execs. You have to be diligent. I've been calling, writing, and emailing B of A since October 2008 and did not start getting help until I missed my 1st payment. I will keep everybody posted on what happens with Stacy.

08-03-2009, 11:48 PM	#32 (permalink)
aurers Member Join Date: Jan 2009 Posts: 24 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Any Luck with Bank of America + Home Affordable Modification? Hi everybody. I've been trying to get a loan mod since October 2008. First I was denied b/c I wasn't delinquent. Feb 2008 I tried again and B of A said the private investors declined my application. Stopped paying June 2008. Have missed June & July payments. After talking to 4 different representatives, I kept getting declined due to the private investors decision to not participate in the Making Homes Affordable program. (My 1st and 2nd loan are with B of A, but the 1st is with private investors). On July 31st, I spoke to Jared who said the investors weren't willing to budge lower than 4%. However, that would switch my loan to pay principal & interest (I'm currently interest only ARM that adjusts next year) -- my payments would be $200+ more a month plus $375 per month for 12 months to catch up to my missed payments. I said no. I have read about other people on the different threads who have gotten both their B of A mortgages modified. That's what I'm trying to get. I emailed a bunch of B of A execs as suggested by another thread on this website and the office of Barbara Desoer (barbara.j.desoer@bankofamerica.com) contacted me. Stacy Adams contacted me today and said she is going to contact the private investors on my loan to discuss the Making Homes Affordable program. I would highly suggest emailing the B of A execs. You have to be diligent. I've been calling, writing, and emailing B of A since October 2008 and did not start getting help until I missed my 1st payment. I will keep everybody posted on what happens with Stacy.