I just found this forum today while searching about a returned BOA mortgage payment and I'm very glad I did. Just knowing I'm not the only one with the same issues with BOA makes me feel better. I'm writing to share my ongoing struggle and frustration with BOA. Maybe it will help someone in the same situation.
This has been taken from letters I sent to BOA to get help over the past 2 years 9 months.
June to December 2009
I have currently been in the Making Homes Affordable Modification since June 2009. Since this date I have made all of the required trial payments of $877. The modification was approved in 9/2010.
The first payment was made on the modified loan on 10/2009. I received a letter on 10/2009 stating that BOA was missing some information and was instructed to continue making the Trial Payments.
I received a second letter stating that the Trial Payments were extended again in 12/2009. I supplied more information to BOA that was needed again in a timely manner. Since then I have called before making every Trial Payment checking on the status of this workout.
January to March 2010
Continuing to make trial payments each month. In March I received a letter stating that BOA had found an error while calculating the modified payment amount and the new amount was less than the original modification. I called BOA to confirm this information and was told that no payment was due on the account and to wait for my new loan paperwork from FedEx. I continue to call every month to check on the status of the modification and have been instructed to continue making the trial payments.
June to October 2010
I started to receive collection calls on the account for a past due amount. I was told by BOA that my loan was still in workout and then put in for an escalation for the Modification. Since this date I have called every week to get updates on the escalation. A second escalation was entered in October.
I called BOA on 11/08/2010 to get an update on my account and was told that I was not approved for the Making Homes Affordable Modification after making Trial Payments for over a year. I spoke to several different representatives that could not give me any information about my account or what options I have. I finally spoke with Sandy about my account. She stated that I was not approved due to a missed Trial Payment in 10/2009 and 3/2010. I was then told I was entered in to other “In house modifications” by bank of America. Still continued to make trial payments.
April to June 2011
I attended a BOA MHA seminar here in Florida. I spent the entire day there and provided complete updated information to the representatives on site. After spending over 8 hours I was told that a BOA representative will contact me in 2 weeks. On May 12, 2011 I received a call from the representative assigned to my account and was told that I did qualify for the modification, and to wait 10 days for another representative to contact me with the loan paperwork. I called back to follow up due to no contact and was then told that I was not approved for the modification on May 19, 2011. I spoke to 3 different representatives on this issue and no one could give me an answer. Account was noted for escalation again on June 14, 2011. I continued to follow up again on June 16, 2011 I was told my account is still under active trial and to call back in 2 weeks for results of the escalation.
I received a letter stating that I did not qualify for the MHA modification due to a missed payment. I spoke to a MHA supervisor, James, about this account. He informed me that I was entered in to 2 separate modification programs at the same time back in 2009. I was never informed of this by BOA. He said they do not have any record of the principle and interest error letter I received in March 2010 stating the error found by BOA, and also said that at that time BOA should have sent out new paperwork for the loan. I was instructed to fax over this letter received in March 2010 letter to BOA for your records. I sent the letter on 7/08/2011 and confirmed that it was received and imaged to my account on 7/11/2011. I was told that it would take a week for this to be escalated to the supervisors.
After sending the principle and interest error letter to Bank of America I received letters stating it was received and was forwarded to a specialist for research. On 7/28/2011 I received a package from Bank of America stating that I was approved to enter a Fannie Mae Modification program. I called Bank of America and spoke to Sean, I was told that I was in a new modification program to correct the errors and to make the payments of $970 listed in the letter.
Continuing to make trial payments of $877 since June 2009. On 8/26/2011 I received a letter stating that Bank of America received a payment of $1199 but an additional $7827 was needed to bring the account current. This information differs from my last my statement showing a total amount past due on the account of $11,144 Later on 8/30/2011 I received a letter in correspondence to a letter I sent to MHA Supervisor James on 7/08/2011. This letter stated that they corrected the principle and interest amount on my account from the letter I received back on 3/08/2010.
BOA never contacted me about adjusting the principle and interest on my loan and did not make any effort to bring the loan current. I feel that BOA is responsible for my account being past due from having me make trial payments over the last 2 years.
A 1st payment of $970 for the 2nd modification was made to Bank of America per the new Fannie Mae Modification that I received on 7/28/2011.
A 2nd payment of $970 was made to Bank of America per the new Fannie Mae Modification that I received on 7/28/2011. On 10/05/2011 I received a letter from Bank of America stating that the payment of $970 received did not satisfy the payment due, and the funds were returned in an attached check with the letter. I immediately called Bank of America on 10/05/2011 at 7:38 pm. I was told that the payment was returned due to codes for the loan modification were removed from my account on 8/26/2011. The negotiator on my account "Paula" was emailed to have the codes placed back on my account. I was instructed that the funds were sent back in error and to return the payment, which was done within the next 2 days. I followed back up with Bank of America on 10/17/2011 and the representative could not give me an update on my account, but did send an email to the new negotiator "Kevin" to check the coding on my account.
A 3rd payment of $970 was made to Bank of America per the new Fannie Mae Modification that I received on 7/28/2011. Being the last payment required for the modification I called Bank of America to get an update on the account. On 11/21/2011 I was told that the loan was in the closing phase of the modification and to check back in one week to see if a payment for December is required. I called on 11/28/2011 to get an update on my account, the representative instructed me to continue to make the trial payments until I receive the new loan paperwork. I was also told they sent an email for an update to the new negotiator on my account "Mario".
A 4th payment of $970 was made to Bank of America per the new Fannie Mae Modification that I received on 7/28/2011. On 12/10/2011 I received another letter from Bank of America stating that the payment of $970.53 received did not satisfy the payment due, and the funds were returned in an attached check with the letter. I called Bank of America on 12/12/2011 at 2:00 pm. I was instructed by the representative to return the payment back to Bank of America, and that the coding was never put back on my account. An escalation was entered and an email to the negotiator "Mario " and to his supervisor was sent to correct the codes on my account. On 12/16/2011 I called Bank of America to follow up since I had not received a phone call from the escalation to the negotiator and supervisor's. I was told that the account was still not coded for a modification. The representative researched my problem and put a request for a Customer Response Manager to be assigned to my account.
A 5th payment of $970 was made to Bank of America per the new Fannie Mae Modification that I received on 7/28/2011. I have been in contact with my Customer Response Manager and also started working directly with a Fannie Mae help center that opened in town. I have supplied them with more updated finical information and I am currently awaiting their review along with BOA.
Continuing to wait for an update from BOA on my modification. I received my latest mortgage statement which stated the full payment amount of that was stated in the error letter I received back in march 2010. Since BOA finally has corrected the error I decided to start making the full payment amount. Full payment was made on 2/01/2012.
Another full payment was made on 3/02/2012. On 3/12/2012 I received a credit back to my bank account of the full payment that was made on 03/02/2012. I tried calling my CRM all day but with no returned calls. I spoke to the Payment research department and I was told this payment was returned by the foreclosure department and to speak to my CRM.
I also received a letter stating "As of 3/06/2012 there is a total of $206 in partial payments on your loan. The partial payments on your account are not sufficient to satisfy the full delinquency due on your loan." Attached with a check for that amount. This i do understand BOA sending back but the full payment i do not understand.
After finding this message board today I was referred to call the Executive Team of BOA by Moderator, Cat Damiano, I made that call and they were very helpful and are now in the process to assign an Escalated Customer Response Manager to my account. Also they are to track the account personally until it is resolved.
Any tips of what or where to go next please let me know.
This board is a great source of information i wish i found it years ago !!! Thank you