Do we make out payments out to BOA? - Loan Modification Forum

alikeith · 05-11-2009, 02:37 PM

So for those of us who have out mods approved and were to be mailing in paymants, do we know pay to the order of to Bank Of America?

kateistired · 05-12-2009, 05:53 AM

I am wondering the same thing...my first mod payment is June 1. Let me know what you find out

itscatnip · 05-12-2009, 06:34 AM

bank of america home loans

itscatnip · 05-12-2009, 06:45 AM

Payment Address:	Physical Address:
Remit regular payments to:	Remit overnight delivery payments to:
Bank of America Home Loans Attn: Payment Processing P.O. Box 660694 Dallas, TX 75266-0694	Bank of America Home Loans Attn: Payment Processing 7105 Corporate Drive PTX-B36 Plano, TX 75024-3628

giantsfan · 05-12-2009, 06:50 AM

katieistired, congratulations on your mod approval. could you please tell me when your was submitted to CW and how long it took for approval. and if you don't mind me asking, what type of deal did you get. thanks and best of luck with everything.

kateistired · 05-12-2009, 07:13 AM

giantsfan,

To be honest, the deal wasn't great. They put all of my missed payments on the end of the loan, same interest rate, slightly higher payment (because of the past-due payments).

Old payment: 764
New payment: 855
interest rate: 7.5

I started my mod in October, 2008. I think I got stuck in the middle of all the new modification programs coming out, so that may have caused the delay. I was approved for my mod 4/21/09. Six months it took in total. I was around five months or so past due when I applied, struggling with a re-payment plan.

The reasons I accepted such a mediocre mod are 1.) I am tired

After six months of not knowing if I would keep my home, I just wanted it to be done and 2.) Because my loan payment is only about 15% of my monthly income, I do not qualify for the mew mods...their goal to get the payment to 31% does nothing for me at 15%

kateistired · 05-12-2009, 07:15 AM

Oh, and good luck on your mod as well, giantsfan. Thanks, catnip, for the information!

alikeith · 05-12-2009, 08:58 AM

Im still waiting for my mod to be showing completed updated online. Its partially. On my mod papers it shows to make payments to a specific address, so i am no sure if its that address, but now addressed to BOA? Im sure it is.

itscatnip · 05-12-2009, 09:09 AM

hi alikeith

i got the payment info from the cw/BOA website in the contact us section. and you are right, the loan mod papers had a different address, but my new payment, interest rate and other information is completed updated on the cw/boa website. In addition, i received an updated statement from them with the payment due, address etc.

Since your info is still pending a final update, i would contact customer service for the payment info.

alikeith · 05-12-2009, 09:33 AM

Itscatnip-
They started updating the info on the site. I think i will wait it out a week or so to mail it in.

lina22 · 05-13-2009, 09:34 PM

If your mod is still pending completion, please, pleas send you payments certified. it gets costly, but you will need proof of payments!
checks payable to bac home loans, llc. same payment mailing adrress as before, unless the mod adress is different, send the payment there or call and get the western union code city.

kateistired · 05-14-2009, 05:48 AM

I was given very specific instructions by the Hope department. I think I will just follow those. I did notice today that the updated info on the BOA website lists my new payments at about $30 less than the amount in my mod documents??? I guess I will just make the higher payment until I hear otherwise.

lina22 · 05-14-2009, 03:07 PM

Katie, you're right, pay the higher amount until they tell you otherwise. If nothing else, it'll at least help pay down some of the balance.

Txnwoman · 05-14-2009, 04:16 PM

Hi there...
Im still going through my loan modification/Acorn helping/Advocacy helping I think process. However, they did send me a papers to sign but I do not agree with modification which would raise my interest rate over a period of three years from 5.25% to 7.25%. So basically my mortgage would go up every year for only 3 yrs. They told me I do not have to sign and they would move on to finding another mod better. Well now, Im getting monthly statements from BOA?? So Im confused?? Did they go ahead and accepted my modification on my behalf since I know that nothing can take place unless I sign the papers back and send back via FEDEX....
Anyone else in this situation??????????

05-11-2009, 02:37 PM	#1 (permalink)
alikeith Senior Member Join Date: May 2008 Posts: 630 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Do we make out payments out to BOA? So for those of us who have out mods approved and were to be mailing in paymants, do we know pay to the order of to Bank Of America?

05-12-2009, 05:53 AM	#2 (permalink)
kateistired Senior Member Join Date: Oct 2008 Posts: 159 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? I am wondering the same thing...my first mod payment is June 1. Let me know what you find out

05-12-2009, 06:34 AM	#3 (permalink)
itscatnip Senior Member Join Date: Jan 2009 Location: New Jersey Posts: 128 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? bank of america home loans

05-12-2009, 06:50 AM	#5 (permalink)
giantsfan Senior Member Join Date: Jan 2009 Posts: 79 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? katieistired, congratulations on your mod approval. could you please tell me when your was submitted to CW and how long it took for approval. and if you don't mind me asking, what type of deal did you get. thanks and best of luck with everything.

05-12-2009, 07:13 AM	#6 (permalink)
kateistired Senior Member Join Date: Oct 2008 Posts: 159 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? giantsfan, To be honest, the deal wasn't great. They put all of my missed payments on the end of the loan, same interest rate, slightly higher payment (because of the past-due payments). Old payment: 764 New payment: 855 interest rate: 7.5 I started my mod in October, 2008. I think I got stuck in the middle of all the new modification programs coming out, so that may have caused the delay. I was approved for my mod 4/21/09. Six months it took in total. I was around five months or so past due when I applied, struggling with a re-payment plan. The reasons I accepted such a mediocre mod are 1.) I am tired After six months of not knowing if I would keep my home, I just wanted it to be done and 2.) Because my loan payment is only about 15% of my monthly income, I do not qualify for the mew mods...their goal to get the payment to 31% does nothing for me at 15%

05-12-2009, 07:15 AM	#7 (permalink)
kateistired Senior Member Join Date: Oct 2008 Posts: 159 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? Oh, and good luck on your mod as well, giantsfan. Thanks, catnip, for the information!

05-12-2009, 08:58 AM	#8 (permalink)
alikeith Senior Member Join Date: May 2008 Posts: 630 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? Im still waiting for my mod to be showing completed updated online. Its partially. On my mod papers it shows to make payments to a specific address, so i am no sure if its that address, but now addressed to BOA? Im sure it is.

05-12-2009, 09:09 AM	#9 (permalink)
itscatnip Senior Member Join Date: Jan 2009 Location: New Jersey Posts: 128 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? hi alikeith i got the payment info from the cw/BOA website in the contact us section. and you are right, the loan mod papers had a different address, but my new payment, interest rate and other information is completed updated on the cw/boa website. In addition, i received an updated statement from them with the payment due, address etc. Since your info is still pending a final update, i would contact customer service for the payment info.

05-12-2009, 09:33 AM	#10 (permalink)
alikeith Senior Member Join Date: May 2008 Posts: 630 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? Itscatnip- They started updating the info on the site. I think i will wait it out a week or so to mail it in.

05-13-2009, 09:34 PM	#11 (permalink)
lina22 Member Join Date: May 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? If your mod is still pending completion, please, pleas send you payments certified. it gets costly, but you will need proof of payments! checks payable to bac home loans, llc. same payment mailing adrress as before, unless the mod adress is different, send the payment there or call and get the western union code city.

05-14-2009, 05:48 AM	#12 (permalink)
kateistired Senior Member Join Date: Oct 2008 Posts: 159 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? I was given very specific instructions by the Hope department. I think I will just follow those. I did notice today that the updated info on the BOA website lists my new payments at about $30 less than the amount in my mod documents??? I guess I will just make the higher payment until I hear otherwise.

05-14-2009, 03:07 PM	#13 (permalink)
lina22 Member Join Date: May 2009 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? Katie, you're right, pay the higher amount until they tell you otherwise. If nothing else, it'll at least help pay down some of the balance.

05-14-2009, 04:16 PM	#14 (permalink)
Txnwoman Senior Member Join Date: Mar 2009 Posts: 38 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Do we make out payments out to BOA? Hi there... Im still going through my loan modification/Acorn helping/Advocacy helping I think process. However, they did send me a papers to sign but I do not agree with modification which would raise my interest rate over a period of three years from 5.25% to 7.25%. So basically my mortgage would go up every year for only 3 yrs. They told me I do not have to sign and they would move on to finding another mod better. Well now, Im getting monthly statements from BOA?? So Im confused?? Did they go ahead and accepted my modification on my behalf since I know that nothing can take place unless I sign the papers back and send back via FEDEX.... Anyone else in this situation??????????

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