BofA Cancelled Mod Because of Signiture they told us we didn't need. Please Help

[Mike R]

This is a very long story that I will try to make very short:

Got married. Bought home together in Virginia. Got divorced. Moved out. Ex agreed in Divorce Decree to refinance ASAP or sell if possible (ha). I then signed quit claim deed. She then applied and was approved for modification. The modification was CANCELLED at the very last step which according to the bank was "at her request". In reality, the mod was cancelled because my (co-borrower) signature was not on the final document. While it would make sense that I would have to sign, we were told MULTIPLE times by the bank that it was not necessary because of the DD and the QC. I would have just signed but I live far away. The outcome of the mod being cancelled was that when she went to make the new payment (prior to being notified of cancellation) it was kicked back. She called and they told her what happened. She then attempted to simply resume making the original payments but those too were being kicked back. NOW BofA is "researching" whether or not x2 signatures were required on the mod and they'd get back to me. Needless to say my credit is destroyed and I am desperate for advice. I was told IF they determine that x2 sigs weren't req'd that BoA would fix my credit. If not, then...soup kitchen...i dunno. Any help you could offer is greatly appreciated.

[Evan Bedard]

Got married. Bought home together in Virginia. Got divorced. Moved out. Ex agreed in Divorce Decree to refinance ASAP or sell if possible (ha). I then signed quit claim deed. She then applied and was approved for modification. The modification was CANCELLED at the very last step which according to the bank was "at her request". In reality, the mod was cancelled because my (co-borrower) signature was not on the final document. While it would make sense that I would have to sign, we were told MULTIPLE times by the bank that it was not necessary because of the DD and the QC. I would have just signed but I live far away. The outcome of the mod being cancelled was that when she went to make the new payment (prior to being notified of cancellation) it was kicked back. She called and they told her what happened. She then attempted to simply resume making the original payments but those too were being kicked back. NOW BofA is "researching" whether or not x2 signatures were required on the mod and they'd get back to me. Needless to say my credit is destroyed and I am desperate for advice. I was told IF they determine that x2 sigs weren't req'd that BoA would fix my credit.

Welcome to the community Mike.

This has happened on almost every case I have seen like this and almost always will the bank still require all borrower's signatures to complete the loan modification regardless if a quit claim deed was established. If the agreement had your name listed you would need to sign it as well in order for the agreement to be valid. She/you can dispute this and let them know that you were unaware that your signature was required as well because THEIR reps told you otherwise. They may end up sending her an updated modification agreement and she can fax it over to you to sign so there will be no future issues. Here are the contacts for the executive's office, I would recommend appealing your decision through their department as they have much more authority than p[lain old customer service..

BofA CEO contact:

brian.t.moynihan@bankofamerica.com

Direct: 1-704-386-5687