bank of new york

[lucky4me]

anyone know who or how to contact bank of new york, if they are the investor on countrywide loan, getting so much runaround from b of a, wanted to possibly contact bony and see what they can tell me

[ama125]

These are two numbers on their website for customer service: (212) 495-1784 or (412) 234-5000. You can also send an email with a question to have someone contact you, but I think calling them would be the better option. I have no idea if this will get you anywhere, but it can't hurt to try. Good luck!

[scarylarry]

lucky,

good luck,
Keep us posted how calling direct works out.
I am tired of waiting on b of a. I think they are just going to stretch it out for ever and then offer a crappy mod.

thanks

[lucky4me]

well first go around they told me we didnt qualify for the MHA, i asked why, negotator doesnt know, it is now in managements hands.
i emailed all documentation i could find on qualifying for these various programs, even sent to barbara deseor, explained line by line where we should quallify, still have not heard anything, was told that bank of new york is slow to modify by negoiator

[helpsavemyhome]

lucky, have you called Bank of New York yet? Just curious if you were able to get ahold of anyone that would be able to help. I am contemplating on calling them.

[Pants]

My ctywd "servicer" told me they couldn't say who the investment co was. I had a real estate friend get me in contact with the head of my local ctywd branch. I found out it was BONY and he didn't know why Chadd the manager in Ca wouldn't tell me.

I called BONY to find out what's going on. They said they have absolutely no problem modifying people's mtg's. It's Bof A Countrywide that's doing this to us.

The more info I get on trying to simply get our 80 to 31% the more I realize how insane BofA Countrywide is.

[helpsavemyhome]

Pants, did you call the main customer service number that is listed on BONY's website? I have been thinking about calling them for some time now since I have been dealing with Countrywide/BofA for an entire year now...

[CW California]

Month's ago myself and another loan safe member contacted BONY. We really had no luck, just passed us off saying it was up to BofA. What has worked for most people with BONY is going thru NACA. For some reason BofA is not helpful when you have BONY as an investor (especially if you are current) but if you go thru NACA you will have good results. Many, many people that have gone thru NACA with a BONY investor on this website have gotten 2%-3%fixed for life of loan. No trial periods, just straight up mods. I'm not sure why this works but suspect it has to do with the agreement NACA has to submit to the investor if the servicer turns it down. Remember the servicer, BofA, makes money when you go to foreclosure, BONY looses though. Just my hunch. By the way I don't think I have heard of anyone yet who has has been approved for MHA and has BONY as an investor. Please anyone post if this is not true.

[helpsavemyhome]

Thanks for the info CW California...I think you are correct, I have not heard of anyone with BONY as their investor to be approved for MHA, either. That's why I am concerned.

My situation is that NACA submitted my file to BofA back in January and in June BofA offered us 2% for the life of the loan. The thing is, I have been trying to get an affordable payment since Sept. of 2008 and even with the 2%, our monthly payments would've been more than what NACA wanted them to be. At that time, I had asked Janice if we could possibly get the term extended out and she said NACA does not approve of those because you end up paying extra years of tax and insurance..so, she asked BofA to consider us for the Principal Forbearance program. Little did I know, they don't even have the guidelines for this and all we've accomplished is another three months of unpaid mortgage added on to what we already owe. Seems like it would make more sense to pay a few extra years of tax and insurance than to be waiting on a program that is going to take months upon months. I think in the end, we won't end up being approved for it anyway, since we do not have Fannie or Freddie as our investor. I am at my wits end...That's why I was thinking about contacting BONY if it would get me anywhere. I keep telling myself that something's gotta give some way, somehow...

[CW California]

Originally Posted by helpsavemyhome

Thanks for the info CW California...I think you are correct, I have not heard of anyone with BONY as their investor to be approved for MHA, either. That's why I am concerned.

My situation is that NACA submitted my file to BofA back in January and in June BofA offered us 2% for the life of the loan. The thing is, I have been trying to get an affordable payment since Sept. of 2008 and even with the 2%, our monthly payments would've been more than what NACA wanted them to be. At that time, I had asked Janice if we could possibly get the term extended out and she said NACA does not approve of those because you end up paying extra years of tax and insurance..so, she asked BofA to consider us for the Principal Forbearance program. Little did I know, they don't even have the guidelines for this and all we've accomplished is another three months of unpaid mortgage added on to what we already owe. Seems like it would make more sense to pay a few extra years of tax and insurance than to be waiting on a program that is going to take months upon months. I think in the end, we won't end up being approved for it anyway, since we do not have Fannie or Freddie as our investor. I am at my wits end...That's why I was thinking about contacting BONY if it would get me anywhere. I keep telling myself that something's gotta give some way, somehow...

Is there is anyway you can swing that 2% fixed? I ask this because even if you get a forbearance under MHA, your payments start going up after 5 years. I think NACA considers 40 years predatory as you end up paying all that additional interest. You would be paying taxes and insurance anyway. I think at one time they had the forbearance requests on hold due to not knowing how to handle the paperwork but I think there was also a glitch in that in forbearances there are some IRS requirements with regard to 1099s. In other words, how the banks handle it on their books and what they are supposed to issue to the customer when they write-off certain amounts. Even if it is the interest they would of earned on the amount of the forbearance.......

[helpsavemyhome]

CW, back in June when we were first offered the 2%, it would've been a stretch to make the payments, but my husband has since received a promotion and is making more money. We would be able to afford it now. I am worried that since it's been 3 months, BofA might have taken that offer off the table. Do you think I should call Janice to see if we can still accept the offer? I'm afraid to discuss it directly with BofA for fear they won't help me. (I've been dealing with them for a year and know how they are...lol)

[CW California]

Originally Posted by helpsavemyhome

CW, back in June when we were first offered the 2%, it would've been a stretch to make the payments, but my husband has since received a promotion and is making more money. We would be able to afford it now. I am worried that since it's been 3 months, BofA might have taken that offer off the table. Do you think I should call Janice to see if we can still accept the offer? I'm afraid to discuss it directly with BofA for fear they won't help me. (I've been dealing with them for a year and know how they are...lol)

I would definately call and email Janice.

[helpsavemyhome]

Thanks, CW. I will call and email her tomorrow...and I'll let you know how it goes.

[lucky4me]

pants,
what number did you call at bony to see about loan mod?

[Pants]

Originally Posted by lucky4me

pants,
what number did you call at bony to see about loan mod?

#'s from the website.