Soooo Cunfused, Stressed

[alikeith]

So i had mentioned how the BOA negotiator sent me a letter stating they needed "proof of contribution of $2500.00" I found out today what this is about.

Apparently because i have had 2 mods in the past, they want up front fees. Actually they are saying i have had 3 which i have not. I had one that increased my payment and one that lowered my payment but it is still unaffordable.

I keep telling them that under MHA there is no up front fees. I dont get it. I dont know what to do. How am i gonna pay up front $2500.00? thats basically the amount i am behind.

I keep asking to get trial payments to proof my commitement. I keep being told there there are differnet programs, blah blah blah and not all of them have trial payments. I just dont know how i should proceed.

[alikeith]

Does anyone know who i would file a complaint with as well? Per the mha site, i meet the guidelines.

[Bert C]

Alikeith, I copied this from another thread. Maybe in it there is some imformation that can be of help to you. Worth a look....

http://www.freddiemac.com/sell/guide...df/bll0919.pdf

[alikeith]

Bert-
I am not sure how this will help? I appreciate the suggestion though.

Where were you going with this?

Ali

[alikeith]

So i am desperate. I just e-mailed Barbara again. I explained my situation, quoted info from the MHA site. Such as the minimum requirements and no up front fees. I told her that the gentleman whom she has had contact me from her office has been very helpful, but i feel that i need to bring these concerns directly to her. I also let them know that i have contacted the 888-995-HOPE number listed on the MHA site. They have put my intouch with a HUD COunselor, whom is also going to look into why they are trying to charge me the $2500.00 Commitement Fee.

I hope this gets me somewhere.

[alikeith]

Does anyone else have any suggestions???

[ama125]

Originally Posted by alikeith

Does anyone else have any suggestions???

I don't have any great suggestions for you, but I'm sure I will be given this same song and dance (that's if anyone ever contacts me). I'm so fed up with this BS. Someone else just posted about this very same thing: BofA $25,000 Rule for Pre-Qual Success

When is someone going to step in and call them out for not adhering to the rules?! Where is the punishment?!!!

[alikeith]

I just filed a complaint with the FTC. I am doing anything and everything i can.

[Fairlady]

Wish I could offer assistance but I am just as lost and confused as you are. I guess all we can do is keep fighting and praying for the best. Thsi forum has been a tremendous help. I think I would have nearly lost my sanity if not for the support and encouragement here.

[alikeith]

thanks fairlady! Appreciate it.

[alikeith]

anyone else have any suggestions?

What makes no sense to me is if they will consider me for a mod if i pay $2500.00, then why wouldnt i qualify to get on mha, make the trial payemens to show my commitement. It all makes no sense whatsoever.

So i have officailly contacted, FTc, ACORN, HUd and Office Of President Again.

Vp Of Home Retention has now contacted me, i left a message for her. I don't know if her contacting me is good or bad.

[CW California]

Originally Posted by alikeith

anyone else have any suggestions?

What makes no sense to me is if they will consider me for a mod if i pay $2500.00, then why wouldnt i qualify to get on mha, make the trial payemens to show my commitement. It all makes no sense whatsoever.

So i have officailly contacted, FTc, ACORN, HUd and Office Of President Again.

Vp Of Home Retention has now contacted me, i left a message for her. I don't know if her contacting me is good or bad.

I believe that you have to be talking to a collector who will say anything to collect your arrearages. Hopefully DeSoer's office will respond by a assigning a negotiator.

[alikeith]

his is where i am confused....

When i originally contacted Barbara's Office, Phil called me and told me he would put me in touch with a negotiator. Supposedly Gina is that. Yet her letter that she said to me says "senior collector"

Now the Vp of Home Retention is calling me.... So i dont know if she is really going to be able to help me.

[alikeith]

So per bank of america site, job description:

The Senior Collector works in the Collections/Risk Operations environment and will typically work in a number of specialized collections areas, including e-gate, or recovery collections. They work in multiple stages of delinquency, up to and including charged off accounts, or across various product types. The Senior Collector handles extensive research requirements for more complex billing problems and inquiries and has extensive knowledge of the organization, products or services, as well as advanced problem solving skills. The Senior Collector sometimes coaches other less experienced collectors on policies, procedures or problem solving. For this job in particular, the First Mtg. Senior Collector will work in the Loss Mitigation environment. Associates in this role will handle incoming/outgoing calls in effort to negotiate loss mitigation programs. They will typically work in a number of specialized loss mitigation areas and multiple stages of delinquency. The Senior Collector will utilize Loss Mitigation tools to work with customers in need of financial assistance to determine if they will qualify for the programs/assistance offered. They will resolve diverse issue including but not limited to collecting and reviewing customer income/financial documents, providing status updates, and finalizing modification agreements.

[ama125]

Originally Posted by alikeith

So per bank of america site, job description:

The Senior Collector works in the Collections/Risk Operations environment and will typically work in a number of specialized collections areas, including e-gate, or recovery collections. They work in multiple stages of delinquency, up to and including charged off accounts, or across various product types. The Senior Collector handles extensive research requirements for more complex billing problems and inquiries and has extensive knowledge of the organization, products or services, as well as advanced problem solving skills. The Senior Collector sometimes coaches other less experienced collectors on policies, procedures or problem solving. For this job in particular, the First Mtg. Senior Collector will work in the Loss Mitigation environment. Associates in this role will handle incoming/outgoing calls in effort to negotiate loss mitigation programs. They will typically work in a number of specialized loss mitigation areas and multiple stages of delinquency. The Senior Collector will utilize Loss Mitigation tools to work with customers in need of financial assistance to determine if they will qualify for the programs/assistance offered. They will resolve diverse issue including but not limited to collecting and reviewing customer income/financial documents, providing status updates, and finalizing modification agreements.

Thanks for posting that...good to know. So, the saga continues.... Keep us posted!

[Murray12]

Is this a fannie/freddie loan?

I read that they have to offer you the HAMP program if you are late and you qualify.

I think the VP of Home Retention calling you is a good thing, one of your previous messages got through. If you do qualify and it is a fannie/freddie loan. I would tell her that you don't feel like you are being treated fairly and are being steered into a modification, when you qualify for another modification that will better suit you.

On another note, people seem to have great success with Countrywide/BofA using NACA.

It is hard not to be stressed, I feel you. It helps me to get a little mad and stop feeling like they are doing me a favor. I didn't make the laws, but the law says I qualify for this modification and if I don't get it people are going to here about it (you seem good at that part and you are not going to quit until things are made right.

I think your next step should be to wait to see what the VP says. Some people have had luck with their local congressman, me I didn't even get a form letter back.

These are just my opinions.

[hope67]

Originally Posted by alikeith

So i am desperate. I just e-mailed Barbara again. I explained my situation, quoted info from the MHA site. Such as the minimum requirements and no up front fees. I told her that the gentleman whom she has had contact me from her office has been very helpful, but i feel that i need to bring these concerns directly to her. I also let them know that i have contacted the 888-995-HOPE number listed on the MHA site. They have put my intouch with a HUD COunselor, whom is also going to look into why they are trying to charge me the $2500.00 Commitement Fee.

I hope this gets me somewhere.

alikeith, you are in my prayers, I know how frustrating and stressful this could be dealing with BOA. I keep getting conflicting information. It is so confusing!!

[alikeith]

Thanks everyone!

My loan is not a fannie/freddie backed loan. Bank Of New York is my investor.

I understand that they have given me a mod before and i failed... I am not the only one from the statistics i am reading online. First my paymetn increased and this last one it decreased but its interest only then goes up to 8%. its still 36% of my grossincome. My payment is still not affordable though. If it was, i would not be in this spot. If they were to give me the trial payments under MHA, they couls see if i could or could not pay. Thats what the purpose of this program is. to make sure you can afford the modified payment. I don't get what they are thinking....or not thinking

[ama125]

Originally Posted by alikeith

Thanks everyone!

My loan is not a fannie/freddie backed loan. Bank Of New York is my investor.

I understand that they have given me a mod before and i failed... I am not the only one from the statistics i am reading online. First my paymetn increased and this last one it decreased but its interest only then goes up to 8%. its still 36% of my grossincome. My payment is still not affordable though. If it was, i would not be in this spot. If they were to give me the trial payments under MHA, they couls see if i could or could not pay. Thats what the purpose of this program is. to make sure you can afford the modified payment. I don't get what they are thinking....or not thinking

To think or not to think?...that is the question. Of course, to do either, would require a brain!

[alikeith]

grrrr!! I just hope that this all works out. I dont want to be one of the people who have to fight them for 6 months, like some of the members here have.

[alikeith]

so i just briefly talked to HUD. I had to set up another appt as it takes an hour and i only have a 30 min lunch. I guess they also try to do a conference call with BOA to have them explain things. She did say that lenders can charge up front fees if it was for a refinance. I know that. The thing is under mha they arent supposed to. She also said she has never heard of this happening.

[alikeith]

Ok, so i forwarded the e-mail i had sent office of President to Sabrina, VP of home retention. I let her know i was just wanting to keep her in the loop, and did not expect a reply back. She did reply though! She let me know she was reviewing my loan and would call me. I then replied back to her with this...is this too much?

" Thank You!! I really appreciate you looking into this for me. I really, really want to show BOA that i can pay this loan. Even reducing my payment by $100.00 a month is helpful. The trial payment under MHA would show that we can do this. I know that this may require extending my loan and/or balloon payment. I will do whatever it takes. The mod that i received back in March, still has me over that Percentage that is unaffordable. Had i known about Making Home Affordable, i would not have accepted it. An interest only loan really is a bad loan still. I was desperate though. Its going to keep going up every year, increasing my payment. It has been a rough couple years for us. My husband is having medical issues that he keeps having test after test for. He still is not working.

It is hard for me to answer as i am at work but you can leave me a message. It is a cell phone and only i have access.

Again, Thank you for taking the time to listen to me. My stress the past few weeks over this is tremendous. I realize being that i have had previous mods that have failed makes me look like a bad candidate and a risk. I hope BOA can see it as a final opportunity for me really. I realize if i was to fail this trial period, i would loose my home. There won't be any other options available for me. I ask that you can give me an exception to prove myself."