Need Advice W/ BOA and Making Home Affordable - Loan Modification Forum

alikeith · 08-05-2009, 06:44 PM

hi-
I have recently contacted BOA regarding the Making Home Affordable Program.

I was told by them today that they would require $2500.00 Up front to show my commitement. They are requesting this because i have already had two mods. Actually, they are telling me three, but thats not so.

My first mod, increased my payment. Then the Attorney Generals Settlement came out. I applied for that. Had i known about MHA, i would have not gone that route. The mod they gave me is interest only and it increases every year. Then after 10 years, it is fixed at 8%

I have contacted the Office of the President, Wrote The FTC, and am contacting a HUD Counselor thru the MHA site. I also recieved a call today from the VP of Home Retention. I have called her back and left a message.

I dont know what else to do. What they are doing seems wrong. I clearly meet the guidelines For MHA Mod. My mortgage is currently 36% of my Gross and i want to get it lower. My husband is unemployed so we are facing a hardship.

Any suggestions?

08-05-2009, 06:44 PM	#1 (permalink)
alikeith Senior Member Join Date: May 2008 Posts: 630 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Need Advice W/ BOA and Making Home Affordable hi- I have recently contacted BOA regarding the Making Home Affordable Program. I was told by them today that they would require $2500.00 Up front to show my commitement. They are requesting this because i have already had two mods. Actually, they are telling me three, but thats not so. My first mod, increased my payment. Then the Attorney Generals Settlement came out. I applied for that. Had i known about MHA, i would have not gone that route. The mod they gave me is interest only and it increases every year. Then after 10 years, it is fixed at 8% I have contacted the Office of the President, Wrote The FTC, and am contacting a HUD Counselor thru the MHA site. I also recieved a call today from the VP of Home Retention. I have called her back and left a message. I dont know what else to do. What they are doing seems wrong. I clearly meet the guidelines For MHA Mod. My mortgage is currently 36% of my Gross and i want to get it lower. My husband is unemployed so we are facing a hardship. Any suggestions?

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