BOA - Loan mod. question

[csenje]

BOA offered us a trial period before loan mod. However, the payment is more than our original loan payment. We contacted BOA and they agree that their numbers for our income is incorrect, but have told us they will not do anything about it, we have to either accept or deny the trial period and if we deny we cannot re-apply. We are behind on our mortgage, but the paperwork says that our arrears are not included in this payment. We talk to someone different all the time, and every answer we get is different. I am unsure if we should accept this trial and hope they work out the numbers correctly before the final agreement, or if we should deny it. Any comments would be appreciated.

[Evan Bedard]

Hi csenje welcome and thank you for joining.

BOA offered us a trial period before loan mod. However, the payment is more than our original loan payment. We contacted BOA and they agree that their numbers for our income is incorrect, but have told us they will not do anything about it, we have to either accept or deny the trial period and if we deny we cannot re-apply. We are behind on our mortgage, but the paperwork says that our arrears are not included in this payment. We talk to someone different all the time, and every answer we get is different. I am unsure if we should accept this trial and hope they work out the numbers correctly before the final agreement, or if we should deny it. Any comments would be appreciated.

If BofA has wrong income for you listed in their systems than that is their fault and I believe you should not be required to make higher payments than you can afford because of their mistake. Try emailing Barbara Dosoers office to see if someone there could help fix the mistake:

Barbara J. Desoer
President Home Loans and Insurance
Bank of America
100 North Tryon St.
Charlotte, NC 28255
barbara.j.desoer@bankofamerica.com

[csenje]

Thanks Evan, I have just e-mailed her office and am keeping my fingers crossed.

[Evan Bedard]

Good luck and keep us posted!

[kr1959cw]

Originally Posted by csenje

BOA offered us a trial period before loan mod. However, the payment is more than our original loan payment. We contacted BOA and they agree that their numbers for our income is incorrect, but have told us they will not do anything about it, we have to either accept or deny the trial period and if we deny we cannot re-apply. We are behind on our mortgage, but the paperwork says that our arrears are not included in this payment. We talk to someone different all the time, and every answer we get is different. I am unsure if we should accept this trial and hope they work out the numbers correctly before the final agreement, or if we should deny it. Any comments would be appreciated.

I am kinda in the same boat...we just recieved a trial offer...the payments are lower than the original payment...yet we cant even afford the trial payments...I was told the same, if we don't accept it then we cant reapply....so frustrating!

[csenje]

Evan, thanks for the e-mail address to the presidents office of BOA. I received a phone call that day from Steven. It made me feel relieved, he is going to set me up with a senior loss mitigation officer. It is great to know that I will be dealing with one person who has his own phone number. Although I am skeptical due to what we have been through, I am hoping for the best. The information you have provided me was so beneficial, I am glad you are out there to help us home owners!!!

[Evan Bedard]

Your very welcome csenje and I apreciate your kind words