Hey b6731,
Sorry to hear of your divorce and mortgage hardship. Hang in there. You found the right place for support
.
CW (now BofA) is one of the most difficult lenders to deal with. Is keeping the home your primary goal (you mentioned it's your dream home)? If you decide you would foremost like to pursue a loan mod, you might want to try NACA (free, non-profit org). They have an excellent track record getting better deals than borrowers get going it alone w/ the lender. NACA's contact info is on this site somewhere, you'll have to do a search. You have to have patience with the process as it could take mos to get a good mod through NACA. You are in so cal, and there is an office in L.A. If you want to research / pursue all options (foreclosure, deed in lieu, etc. as you said the home was listed for a long time with no offers), you may want to read the Deed in Lieu / Foreclosure thread. LOTS of good info there, esp from Prof Shays who is a foreclosure expert. I would also encourage to read, read, read, know your rights and get informed as much as possible. The good thing is you have income and a stable job. If you go w/ NACA, they will get you the best deal they can. If you go it alone, be prepared to get several bogus offers from
CW / BofA. Many
CW folks here get the same bad loan mod offers over and over again. Don't get duped into a bad loan mod offer. If you're ever unsure of anything, keep asking your questions here. Someone will step up to help you. Good luck
!