Loans, Debt & Credit - View Single Post - BofA pulling a fast one with this loan mod??

allinknots · 09-17-2009, 09:52 AM

Love this site: Has anyone been in this situation? Does anyone know what I should do?

By phone yesterday on the 16th Bank of America says I am approved for a loan mod for my first and second, but I have to make a payment toward my second by the 20th. This was news to me as I have not received any paperwork or loan mod proposal of any kind. They said paperwork can take weeks b/c they are so backed up and that if I don't make the payment in a few days then I'm declining the loan modification (that I've never seen). I'm very skeptical about sending in a payment without receiving anything in writing as I don't know what I'm agreeing to, but I don't want to forfeit a loan modification either. Are they just playing hardball here or is this justified? Help!

Thanks!

09-17-2009, 09:52 AM	#1 (permalink)
allinknots Member Join Date: Sep 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	BofA pulling a fast one with this loan mod?? Love this site: Has anyone been in this situation? Does anyone know what I should do? By phone yesterday on the 16th Bank of America says I am approved for a loan mod for my first and second, but I have to make a payment toward my second by the 20th. This was news to me as I have not received any paperwork or loan mod proposal of any kind. They said paperwork can take weeks b/c they are so backed up and that if I don't make the payment in a few days then I'm declining the loan modification (that I've never seen). I'm very skeptical about sending in a payment without receiving anything in writing as I don't know what I'm agreeing to, but I don't want to forfeit a loan modification either. Are they just playing hardball here or is this justified? Help! Thanks!