Loans, Debt & Credit - View Single Post - Need Advice about Bank of America Loan Mod.

Veronica · 04-24-2009, 08:40 PM

My fried has her loan with Bank of America and its owned by Freddie Mac. They need a loan modification because my freind was diagnosed with Breast cancer 1 yr ago and due to that she was reciving disablility income for 8 months. Currently that stopped and now the only one working is her husband. He makes about 2,000 month.

She can't refinance becuase her loan is more then what the house is currently worth.

Everytime they call BofA they tell them that they don't qualify because they are not late. They are living off their credit cards to pay bills each month. They don't want to be late and mess up their credit.

What can they do?

04-24-2009, 08:40 PM	#1 (permalink)
Veronica Member Join Date: Jan 2008 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Need Advice about Bank of America Loan Mod. My fried has her loan with Bank of America and its owned by Freddie Mac. They need a loan modification because my freind was diagnosed with Breast cancer 1 yr ago and due to that she was reciving disablility income for 8 months. Currently that stopped and now the only one working is her husband. He makes about 2,000 month. She can't refinance becuase her loan is more then what the house is currently worth. Everytime they call BofA they tell them that they don't qualify because they are not late. They are living off their credit cards to pay bills each month. They don't want to be late and mess up their credit. What can they do?