This newbie just called to start his loan mod

[calicolin]

Just wanted to share my experience so far: I called 800-669-0102 and spoke to someone from the Home Retention call center, which is obviously in India. I was told that I would need to call back on Jun 1 because a pending payment needs to be showing on the loan before the option to start the mod process can even show up on their system. Since I just made my May payment, my account shows $0 due and they can not start the process. So my first call has already resulted in a 20 day hurdle for a pretty stupid reason. I was also told that since I was from CA, I could call the BofA HUD dept at 800-569-4287 to see what they say, but it was likely that they would also tell me to wait until Jun 1. I am going to get my income/expenses documented before I call again because they said that my financials would need to be given to them over the phone (not faxed).

[eevee]

The loan servicing number at BOA is #1-800-669-4578. Called BOA today and was told that my account was in review for a workout and not to call back until May 19. Once you get your finances together try this #. Best of Luck!

[bluefelix]

This sounds similar to my CW situation. I take it you are current on your loan, but underwater and want to come back to the table for a Mod. Is this correct? Can you share more about your situation?

[calicolin]

Originally Posted by bluefelix

This sounds similar to my CW situation. I take it you are current on your loan, but underwater and want to come back to the table for a Mod. Is this correct? Can you share more about your situation?

Yes sir, I am current on my loan. Last year I fell behind by a couple months but got back up to speed on my own without a modification. I just reduced my expenses and accepted the fact that I got myself into this mess and I was going to get myself out of it. Well now my fiancee has been laid off and my employer has reduced my income as a result of the poor economy. A likely story. My loan will reset in the near future and I don't feel that my current situation is a sustainable one. I feel bad about asking for a "bailout" for something that I signed up for back in 2004, but after much thought, the economic downturn that is currently impacting my life is due in large part to the actions of the lenders. Like it or not, the fact of the matter is they have much to lose if I walk from the house. It makes financial sense for all parties involved to work something out that is sustainable for the long term. So after swallowing my pride and getting over the guilt, I made the phone call, hat in hand.

Now after being routed to an Indian call center rep who pretty much just read a script from a computer screen and immediately put a 20 day roadblock in front of me for an asinine reason, all the guilt is gone. I'm just a number to them. Let's get it on.

[bluefelix]

I totally understand. I am in a similar situation. I also feel that CW should want to come to the table with me. From reading other posts on this forum though, it doesnt seem like CW wants to "deal" with anyone. Do you get this impression too, or I am just reading all the wrong posts??

[rozuki]

Read the posts here and you will find that it is very difficult to get a decent loan mod if you are trying to deal with CW/BofA yourself. They throw roadblocks up at every turn....and you will waste many months.


I finally got my first "loan modification" in mid February 09, after starting the process with CW in Oct 08. It was totally unacceptable. Reduced my payment slightly, but tacked on many thousands to the principal (and I had never missed a payment at that point!).


I finally went with NACA on 4/17/09 after trying to get a decent loan modification from CW since 10/08.

[lina22]

Contact #'s
8006690102. 8006694578. 8667888495.
When I call I get a rep in America, so try one of those.

[jmo44]

I'm glad I found this website! I have been talking to these CW people in India with no results. I will be calling the numbers listed in order to get someone in America tomorrow morning We also not delinquent on our loan but were behind in property taxes. My husband is working but I have been unemployed since Oct 08. Countrywide keeps telling me that were not eligible for loan mod but when I ask why, they said they couldn't tell me. With house payment and property taxes its about 50% of our monthly income. We are barely surviving. Is the bank more willing to talk to you if you're delinquent on your house payment? At this point our credit is in good standing but know that it is just a matter of time and this will change. Our house is negative $300,000 and we about $150,000 upside down on our loan so we are not able to refi. Any advise would be helpful

[lina22]

jmo, call cw and ask to talk to the escrow dept. they have a tarp program. escrow is normally calculated over 12 months, but with tarp, they can spread your shortage over 5 years. That should help at least a little til you can get back on your feet. You're also right in that your disqualified for a mod cus you're current. they wont tell you that because, like every other lender, they want their money. It's your call if you want to stop paying to get a mod, but your credit will get hit, and they probably wont give you the mod you're looking for. If you decide to stop paying, set the money in savings.

Does anyone know how to leave customer service comments? Like, is there a number to call, or do i have to ask a rep to transfer me somewhere?

[sarge]

jmo44,

Welcome to the forum. I have found there to be many success stories here and a lot of help from people in the same boat as us. We found a Hud approved agency called NACA here on this site. You don't have to be behind and they will work with you to get a payment you can afford. If this is the only home you own then check out the Home Save Program. Their services are free! Here is a link:

https://www.naca.com/refinance/refinanceTenStep.jsp

It is going to take a while to get through this as they are backed up but you may find it worth the effort. Especially if saving your home is a priority and I think it may be. You found this site!