Called Ms. Barbara Desoer

[ksorized]

Hi everyone! I post my thread before about hiring an attorney for Loan Modification but for some reason they just dump me like whatever after they got my money! Now, I'm thanking this forum because I really learned a lot, new information and tips, this forum is really helpful for us homeowners. If I only knew this forum before I hired or started my loan modification then I think I will not be have this kind of situation that I'm in right now. For now, I enrolled NACA for workshop this coming November then I e-mailed MS. Barbara, after 1 day they called me and the lady Ms. Juanice was very nice and hope that she understand my situation. I faxed all the documents needed and today she said that I already have a loan negotiator from the Office of the Chairman. Her name is Theresa. Hope she will help me. does anyone have successful story after contacting Ms. Barbara? Hope you can all share it with me. God bless!!!!

[priscilla]

What is the number for Ms.Barbara? I emailed her office after coming to this website on saturday but I havent heard anything from anyone yet. Please share the number you called her on and I will be glad to give her a call. Good luck to you.

[so-cal-gal]

Originally Posted by priscilla

What is the number for Ms.Barbara? I emailed her office after coming to this website on saturday but I havent heard anything from anyone yet. Please share the number you called her on and I will be glad to give her a call. Good luck to you.

Boy, a whole BUNCH of us want that number for Ms Barbara. Please share it.

Darling David Leighton is NOT responding to emails. BofA does not want to honor modification contracts that Countrywide offered persuant to the settlement with CA AG Jerry Brown.

BofA has already finally honored a modification contract just like mine. It had entered that terrible valley of denial also. That other contract was honored after they got a copy of a lawsuit. Seems I even got wind of an offer of $ to settle on top of the mod that suddenly happened. Oh, and the arrearages were taken care of also. (I told you guys BofA was breaking the law with denying these modification contracts.)

Michigan also appears to have forced BofA to honor a modification contract.

Well, before we send our version of same, they just MIGHT want to listen to a phone call. My lawyer really can be sooo charming.

There are already several lawsuits being heard in a courtroom in San Diego regarding the Countrywide charges of FRAUD and RACKETEERING. BofA tried to get some or all of them thrown out. They failed. I think it is still going on.

I'll have to ask my lawyer if my suit should be joined to those. Of course, I know of 2 other cases directly, and I know of 2 more via the web. Hmmm. It only takes 3 for a class action. Hmmmm. Was that a little whisper that there are 1000s of these 'denied' CONTRACTS sitting at BofA?

Yep, I'd like that number for Ms Barbara.

[ksorized]

Hi everyone! I e-mailed Ms. Barbara first after 1 day somebody called me. The lady was from the office of the Chairman her 18006692443. Today I got a called from my negotiator and she said that they transferred my file to an investor. I really don't understand about this one. Does anybody have the same situation like me? i don't know but I'm still hoping that I can get a loan mod.

[so-cal-gal]

Originally Posted by ksorized

Hi everyone! I e-mailed Ms. Barbara first after 1 day somebody called me. The lady was from the office of the Chairman her 18006692443. Today I got a called from my negotiator and she said that they transferred my file to an investor. I really don't understand about this one. Does anybody have the same situation like me? i don't know but I'm still hoping that I can get a loan mod.

I have 2 possible interpretations of this:

1) Are they requesting that the investor-owner of your note agree to the mod?

2) Did they just transfer(sell) the note to the investor-owner after you started on the mod? You should have been notified of any transfer, but just because you SHOULD BE does not mean it always happens.

It is likely to be #1. In that case, they should have explained that they had sent the request for permission to modify the note to the investor-owner.

Now, I DO have another question for you: You had only APPLIED for a mod correct? CW/BofA had not set a modification CONTRACT to you that you had to have notarized, did they?

Please, if anyone has a CW-issued MODIFICATION CONTRACT that had to be notarized and returned with proof of income but nothing else, I need you to check out this: Bank of America Home Loan Modification gone wrong! on Yedda - People. Sharing. Knowledge. and use the email address there to contact me.

Oh, and thanks for dear Barbara's number.

[ksorized]

Originally Posted by so-cal-gal

I have 2 possible interpretations of this:

1) Are they requesting that the investor-owner of your note agree to the mod?

2) Did they just transfer(sell) the note to the investor-owner after you started on the mod? You should have been notified of any transfer, but just because you SHOULD BE does not mean it always happens.

It is likely to be #1. In that case, they should have explained that they had sent the request for permission to modify the note to the investor-owner.

Now, I DO have another question for you: You had only APPLIED for a mod correct? CW/BofA had not set a modification CONTRACT to you that you had to have notarized, did they?

Please, if anyone has a CW-issued MODIFICATION CONTRACT that had to be notarized and returned with proof of income but nothing else, I need you to check out this: Bank of America Home Loan Modification gone wrong! on Yedda - People. Sharing. Knowledge. and use the email address there to contact me.

Oh, and thanks for dear Barbara's number.

Hi socalgal. I'm still in the process on my mod. I just got a called from my negotiator from BoA that Bank America don't do modification right now and that they have to send my loan to an investor. She said she will have a reply within 10 days if the investor will approved my mod. Are they selling our homes to an investor? I really don't understand what she meant? I asked her and she said that they don't do modification right now and that they need an investor to approved a modification. I'm too confused.

[so-cal-gal]

Originally Posted by ksorized

Hi socalgal. I'm still in the process on my mod. I just got a called from my negotiator from BoA that Bank America don't do modification right now and that they have to send my loan to an investor. She said she will have a reply within 10 days if the investor will approved my mod. Are they selling our homes to an investor? I really don't understand what she meant? I asked her and she said that they don't do modification right now and that they need an investor to approved a modification. I'm too confused.

Okay, the note that financed your mortgage is something that people invest in. Some investor owns the note that you gave in trade for getting the keys to the front door of your house. When you pay your mortgage payment to BofA, they are just the servicer of the loan. They take your payment, keep a small portion of it for BofA and (other than impound account payments) pass the bulk of your payment on to that investor who holds(owns) the note.

Since the modification would change the note the investor holds, the investor has to agree to the note being modified. If he does not want to take the change in terms and can afford to deal with the payments not occurring while anything like foreclosure occurs, then he may not agree to the modification.

Investor-owners of the notes do not have a lot of motivation to modify the note.(TARP funds may not be getting shared with them.) If the investor thinks he can come out ahead without agreeing to the mod, then he'll probably refuse to allow the mod. If you are in default, he will be looking at whether he can make a better deal by taking the house back via foreclosure, or letting you have the mod which gives him smaller payments for however long your mod specifies.

[chow1]

in other words the investor jerk has the say"should i destroy this families life and try my luck with a forclosure or ill be humane and give the mod" what a world we live in..

[so-cal-gal]

Yeah, Chow1, you got it in a nutshell.

That is why I believe my only chance is to FIGHT for the modification contract that CountryWide offered and I accepted. I don't care if BofA does not want to sign it. They put it on offer.

There are very limited reasons for them to be able to change their mind AFTER the contract has been accepted by the party it was offered to. It has become a CONTRACT between us.

If they can not or will not 'produce' on what they claimed they would put on offer, I see it as no different than a store advertising a special but refusing to honor that advertised special even though the whole STORE is full of just that one product. Would anyone that knew ever shop in that store again?

Give me my modification BofA and I'll have to think a while about going away and keeping quiet. <-- keep quiet then the 'talking' emoticon?

[ksorized]

Hi everyone! I'm still waiting for the result of my loan modification. My negotiator from BoA told me that she will have un update after 10 days it means this coming friday. I'm really nervous, and scared. She said that it depends on the investor if they wanna help me. Hopefully they will help me. Can we get another help in case the bank will not help you? Can I go to NACA if in case I can't get help from the bank? I'm really scared if they will put my house on foreclosure. Hopefully this people have a heart to those who are in need of help. I'm really praying hard that hopefully God will enlightened the minds of this investor. I'm mixed emotion right now., I feel scared, nervous and anxious about the result.

[minknmelissa]

Ksorized don't get yourself to nervous yet i was suppose to find out last tuesday just to find out they needed another couple of weeks so try not to lose sleep thursday night because they are very backed up i guess

[ksorized]

Hi guys! guess what!!!! My negotiator called me today telling that we got approved for a loan modification. She said that by friday I will recieve the package that I need to sign. I just have a question for some of you guys that have the same situation. My negotiator said that my interest rate will be 2% for 2 years, so my payments will be 1600 for 2 years and will start our first payment this October. After 2 years my interest will be 3% and my payment will be 1800. After that 4 yrs. my payment will be 2400 fix rate. I know this is too much. She said that we have time to refinance if the value of my house will goes up, or we can apply for loan modification again. Hey guys, do you think this is good? for now I'm happy because at least I'm not gonna go into foreclosure. Maybe I will worry that $2400 fix rate payment after 4 years. Please can you give me some advise.

[so-cal-gal]

I'd say take it and try to ramp up your income between now and 4 years hence.

Any chances of getting a better job if you take some classes? (Presuming our economy improves and real jobs get created, not just service-industry, low-paying jobs.)

[patnj]

I say take it and at least you have some breathing room for two years to try and save and improve your circumstances. I got a similar offer which I took and I plan for asking for another mod next year which offers a permanent resolution.

Good Luck!

[Skipper]

Originally Posted by ksorized

Hi guys! guess what!!!! My negotiator called me today telling that we got approved for a loan modification. She said that by friday I will recieve the package that I need to sign. I just have a question for some of you guys that have the same situation. My negotiator said that my interest rate will be 2% for 2 years, so my payments will be 1600 for 2 years and will start our first payment this October. After 2 years my interest will be 3% and my payment will be 1800. After that 4 yrs. my payment will be 2400 fix rate. I know this is too much. She said that we have time to refinance if the value of my house will goes up, or we can apply for loan modification again. Hey guys, do you think this is good? for now I'm happy because at least I'm not gonna go into foreclosure. Maybe I will worry that $2400 fix rate payment after 4 years. Please can you give me some advise.

How is your investor? I am curious, as you got a very quick response!

Skipper

[alikeith]

Congrats!! Thats great!!! Very Happy for you!

[ksorized]

Thank you guys and thanks to this forum! Yah! I guess I will take it and maybe plan to modify again after 4 yrs. Hopefully our economy recover so I can refinance. But for now, I wanna breath and relax, I have this battle for 1 1/2 year. I've been turn down twice from CW then from BOA, I hired a company but was shutdown from FTC so, I'll take this offer. Thanks everyone and thanks to this forum! I owed a lot to loansafe.org. Good luck and God bless!!!

[so-cal-gal]

Originally Posted by ksorized

Thank you guys and thanks to this forum! Yah! I guess I will take it and maybe plan to modify again after 4 yrs. Hopefully our economy recover so I can refinance. But for now, I wanna breath and relax, I have this battle for 1 1/2 year. I've been turn down twice from CW then from BOA, I hired a company but was shutdown from FTC so, I'll take this offer. Thanks everyone and thanks to this forum! I owed a lot to loansafe.org. Good luck and God bless!!!

IF you had one of the targeted loans per the CA AG's Settlement agreement with CW, you may want to take a look at any additional mod before June 30th of 2012. That is the end of when the CA AG is to get reports regarding mods offered to CA CW borrowers. I presume the same is present in the settlement agreements reached by the 10 other state's AG.

[scarylarry]

I am off point again but how would you know if you qualified for the C/W AG
settlement? My situation was much better financially then than now. My current household income is down 50% since Feb 09.
Maybe I qualify?
I have a $556,000 Option ARM with Countrywide (80% loan and 20% cash down payment)
bought the house in December 2005. I was current up until July 2009 payment.
Would I qualify or was there a time limit or cutoff date?

thanks

[so-cal-gal]

Originally Posted by scarylarry

I am off point again but how would you know if you qualified for the C/W AG
settlement? My situation was much better financially then than now. My current household income is down 50% since Feb 09.
Maybe I qualify?
I have a $556,000 Option ARM with Countrywide (80% loan and 20% cash down payment)
bought the house in December 2005. I was current up until July 2009 payment.
Would I qualify or was there a time limit or cutoff date?

thanks

The only criteria that you did not list was whether your home is located in CA or one of the other 10 states where the AGs joined in the settlement.

From my own layman's interpretation, other than the question of the state your house is in, your loan is the second type described in the settlement. Now, they are not REQUIRED to offer you a mod. BUT if they do, the settlement specifies what they can offer. Also, the settlement STREAMLINES the qualification process.

BofA/CW are trying tactics like claiming the note is held by an entity that is not allowing the mods. If you live in one of the 11 states involved, you should check into the settlement.

Oh, BTW, CW claimed they would make this program available nationwide, for the targeted, crappy loans. I don't know if that applies to the easy qualifying or not.

Look over the settlement (CA version): http://ag.ca.gov/cms_attachments/pre...w_judgment.pdf

Oh, and CW/BofA have to keep working with those with the bad loans thru June 30, 2012, even potentially offering re-dos.

Best of luck!

[scarylarry]

It is California, and they are making my loan mod experience anything but streamlined or easy, in fact the opposite.
I found out today after 5 months of attempting a loan mod they (C/W BofA) have not even considered me for the MHA plan. The Collections "agent" this morning tried to prequalify me and said I did not qualify. She would not tell me why. I told her I disagreed and will take it up with higher authority.
thanks
I will check out the link

[Garry]

Originally Posted by scarylarry

It is California, and they are making my loan mod experience anything but streamlined or easy, in fact the opposite.
I found out today after 5 months of attempting a loan mod they (C/W BofA) have not even considered me for the MHA plan. The Collections "agent" this morning tried to prequalify me and said I did not qualify. She would not tell me why. I told her I disagreed and will take it up with higher authority.
thanks
I will check out the link

I was told the same thing countless times by the bank, they left me no choice but to let the house go into foreclosure when I had exhausted all of my resources for cash. Suddenly I qualified, it should never have gone that far.

[Garry]

Basically, they are forcing people into foreclosure before they even think about putting them on the MHA program.