I am unfortunately in the same boat as a lot of you are. I am a victim of the deceptive loan practices of 2007 and have become a victim of the runaround. I do take responsibility, after all, I signed the paperwork. The problem was that
CW knew at the time that there was no way I could afford the loan. My wife is recently disabled and the loss of her income was a strain. We signed the documents in order to pay off some credit cards. We were in no way living above our means, but when you have to pay for groceries with credit you know you are in trouble.
Unfortunately, that was only the beginning of the problem. By the end of 2008 we were forced to file for Bankruptcy. We had (have) every intention of keeping our home and trying to work something out. The Making Homes Affordable plan didn't work for us due to the bankruptcy, the money out had been reduced but the payment was too high. We tried another modification and two weeks ago we got the paperwork.
CW lowered our payment a whole $40. I called and told them that I could not sign something that did so little for me. Then came the Notice of Intent to Accelerate. Now I have until 7-31-2009 to pay it or I'm going into forclosure.
Now I'm certain there is a program out there that would suit me. In fact,
CW even told me of one that Bush/Obama collaberated on that would allow the government to pay 90% of the amount you are upside down and you could pay 10%. Guess what?
CW did not participate in that program.
I am a very proud person. I do not like what I have had to do at all. I am not looking for a handout, just help. I have talked to
CW about my home and about there misuse of Bailout money. If I walk away now, which I can based on the bankruptcy, I owe them nothing. I have been discharged. I want to stay and raise my kids here. If I do walk out, BoA will attempt to sell my home and in today's market get $120,000 less than what I owe. All I am asking is that they meet me in the middle. I am willing to pay more than their loss if I walk. Unfortunately they don't wish to lose anything. In fact that want to double their money.
So, I will most likely lose my home to BoA. It breaks my heart to have to walk away and it hurts even more to take my kids from the only home they have ever known. Oh well, I guess were I a Senator or President I could get a sweet deal!!!
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BoA/CW will not help us!?Why? 
. At one time we were 3 months behind in our payments and all they did for us was defer the payments to the end of the loan and it made our payments even more than we could afford before $1,200.00. Last year we found out that we could have put are property taxes in with our loan we were just paying the county for our taxes. We called BoA to add our escrow into our monthly payment so we are now paying $1,452.65 a month. These payments are killing us! I have faxed cw/Boa our monthly income over and over again. When I call back to see if anything got approved to help us the customer service rep. says there is nothing they can do to help us. That the investor denied it. What ever that means. They can never explain why! Last time I spoke to a rep. I think she was from there India location she almost promised me that we would get help after she heard how upset I was. There again I faxed the paperwork waited, called back she said investors declined it. We our at wits end and do not know what to do. My husband works all the time at least 70+ hours a week so we can try to get this mortage caught up and we just keep slipping another month behind. We are currently 2 months behind. I do not know how long my husband can work himself to dealth before we get some help. He is an uninsured diabetic which that is another story no one will insure him because of that. So, in the mean time he is killing himself to try and make BoA happy. We do not want to loose our home we love it and work hard to try to keep it. But no one wants to help. We need to try to reduce the monthly payment and a.p.r. I am going to start here with your advise. But I am thinking about contacting the Pres. of BoA Barbara Desoer that I got her name from another post on here. I feel that cw/BoA has treated us very unfairly and we get the run around from there customer service reps. that have no clue what they are talking about. They also give out false promises to people who really feel that they are going to get help from them and then find out that they have been slapped you in the face again.
Now I can see why the home loan industry is such a mess! Where can we go to get help? We need to find a way to lower our a.p.r on this loan or it is going to get the best of us. We can't keep living like this. I thought owning a home would be an american dream but I was very wrong when we our one of the millions of hard working people who got taken advantage of with a bad home loan. We deserve to own a home as much as anyone else does. Please any advise would help where to go to next? Thank you kindly.
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