B of A Knows Nothing!

[montana59451]

we were only 3 months behind on our mortgage by the end of May and on June 6 called B of A for a repayment plan as the June payment made us 4 months behind. Offered them 2 months on the spot and wanted a 6 month repayment plan. They refused and told us our house was scheduled to go to the foreclosure department. They then interviewed us for MHA. They still do not know anything regarding the modification application (we sent in everything they asked for). We were in review since 6/6 but in the meantime they set a sale date. I kept calling and calling, no one knows anything, they have wrong info in their notes (they don't even know what it means).

Now we are 6 months behind and I have asked numerous people just to give us a regular repayment plan. They all said no. Then I found one guy who would do it. He asked what I wanted for plan. Offered to give them 3 months up front ($5400) and the balance over 12 months. He said no could only go 8 months. That would make payment $2487. Ok , not happy but possible. Called back 4 days later (no paperwork received as promised), another rep says no repayment plan in the notes, but she could see he gave me the address where to send the payment (he had not). She does the repayment plan (again) and gets approval from a supervisor for the repayment to be only 4 months (same upfront money) making payment almost $2800. That's too much. they say even with repayment plan we will still be in review for MHA. Sale date is 10/27

After being on this site I have emailed Barbara Desoer and hope to get a response for modification.

Question: Should I do this repayment plan to get house out of foreclosure or should I wait for mod. and if it does not come just file Chapter 13 as a last resort?

[rkel11]

Sounds like you are talking to the regular CSR's. They are collection people and will tell you anything to get money out of you. If you have email Barbara, I would wait till you talk with someone from there before doing anything. If you need a mod. or permanent fix then I would persue the Mod route. If you just need time then a repayment plan may fit. I don't know all your particulars but the decision is yours. You may want to look into NACA also.......
Good luck.....

[montana59451]

It's 12:30 MT just got a call from B of A stating they would be calling back by the end of the day with the negotiator's name and #. Maybe I'm on my way....here's hoping!

[Evan Bedard]

Good luck and keep us posted!

[montana59451]

Just got initial contact from our negotiator Jessica. Very nice lady. She stated that we were a good candidate for modification (get lates current) and would be sumbitting to FM today. She stated that she should have an answer in two weeks and would call us. She is going to push our sale date back 30 days (for now) until she gets answer. I asked her about the HomeSaver Advance program, but she does not seem to know too much about it. Does not know how or where to apply for it. Does anyone know anything more about this program? I know it applies if you do not qualify for HAMP as I found the program on the FM site, but it does not tell you how or where to apply. Can you apply for HAMP and HSA without screwing up your modification attempt?