The Emails WORKED, Bank of America Called - What would you like me to ask Dan Frahm?

[Maurice Bedard]

Dear LoanSafe members,

It appears that the executives at Bank Of America have noticed our community. I received a call from Dan Frahm.

I want to ask you all what you would like me to ask Mr. Frahm?

This is our "moment". Make it count community!

[Tartbird]

I would personally like to know why they can't have the process more streamlined? I understand they need to talk with the investor sometimes, but once they get the answer why can't they seem to send the paperwork properly? It is almost always wrong, and one dept. never seems to know what the other depts are doing. How can they expect to do anything right when everyone there is so confused?

One person says you are approved. Then another says your not. Send the info please, oh they never get it. Fax it in again twenty times, oh we still did not get it, oh another dept says yes they did receive it... and on and on it goes. It is INSANE!

This could all go so much more smoothly if everyone was informed and if every dept could communicate with one another.

And why would they want to sell a home for what a forclosure will bring them when they could have reduced principals and worked with the home owners and KEPT US IN OUR HOMES, for the same amount of money!

These are just some of the things about them that drive me nuts, personally.

Tartbird

[Skipper]

I would personally like to know why they can't have the process more streamlined? I understand they need to talk with the investor sometimes, but once they get the answer why can't they seem to send the paperwork properly? It is almost always wrong, and one dept. never seems to know what the other depts are doing. How can they expect to do anything right when everyone there is so confused?

One person says you are approved. Then another says your not. Send the info please, oh they never get it. Fax it in again twenty times, oh we still did not get it, oh another dept says yes they did receive it... and on and on it goes. It is INSANE!

This could all go so much more smoothly if everyone was informed and if every dept could communicate with one another.

And why would they want to sell a home for what a forclosure will bring them when they could have reduced principals and worked with the home owners and KEPT US IN OUR HOMES, for the same amount of money!

These are just some of the things about them that drive me nuts, personally.

Tartbird

Ditto, while adding that I would press for serious transparency. I have no idea which department I have been working with...

It is like... "pay no attention to the man behind the curtain..."

S

[N2Deep]

Why the principle forbarence guidliness are taking this long to finalize

[Slim Shavings]

How about just be honest. If they want the place say so. If not get ONE person to do a work out. Hell all I want is an interest rate drop to around 6%. How hard is that. Yes or no

How about up front what a workout takes. A list of criteria you have to meet.
ONE person to handle the case

All in All not that hard

All in all some may not work out. But Most people are going to try and do whatever it takes to keep their place. Trouble is when your corrupt its hard not to see the rest of the world that way

Moe
as a heads up. we may be burning the place down. I'm getting internal server errors.

[joanne]

Ok, Here is what I want to know:

1. I want to know what benefit they receive in denying loan modifications. You deny a loan mod, the house eventually goes into foreclosure and then the house sits there because the market is non existent and you can't sell it. Then, the mortgage holder next door, who is not in trouble, continues into a downward spiral of equity until there is none left, and they in turn are requesting a loan modification.
2. I would like to know why I am being turned down for a loan modification repeatedly for ludicrous reasons such as a BOA rep adds my gross income to my net income and then say I have sufficient income to pay my mortgage. When they realize their mistake they back peddle and say that I have sufficient savings only to realize that that is a retirement account that cannot be counted according to the HAMP guidelines. Oops, and when they catch that, they says “Oh, I meant that you don't qualify because you are not behind on credit cards or car payments.” Well, Dan Frahm, then how do you suggest I get to work from the suburbs with no mass transportation and how do I feed my 9 & 4 year old!”. By the way, this is in direct conflict with HAMP guidelines.
3. I would like to know Mr. Dan Frahm, why when I contacted you in October, 2008 and said that I was in trouble and heading to the point where I would be unable to pay my mortgage, you said that you couldn't help.”. Now that I am 60 days delinquent, you sure as heck got that “intent to accelerate” letter out fast.
4. I want to know, Mr. Dan Frahm, How do you sleep at night!?
5. Lastly, exactly when, can I expect your cooperation?!

[caldwell02]

I'm not with B of A but this is GREAT! It's pretty much the same for all of us.

Thank you thank you. Chase soon???

[shay01]

Good job Moe.... We are not asking for much..Just help us lower the rates give us chance on the program. Stop giving us the run around just to in turn deny us...Good job Moe and all you are so appreciated. and i have not even got anywhere with the yet...

[survivor]

I would ask that please keep the line of communication open.(let un know what is going on) and to follow MHA rules. write down balances, try not to "lose" our paperwork. Just please work with whats left of us out there. (are there many?) we have shown, lasting as long as we have, fighting, sharing information, that we all want to keep our homes, please recognize that. no one wants a free ride. we just a fair ride.

[ohhhdear]

Dear LoanSafe members,

It appears that the executives at Bank Of America have noticed our community. I received a call from Dan Frahm.

I want to ask you all what you would like me to ask Mr. Frahm?

This is our "moment". Make it count community!

We want a streamlined process that works in the homeowners' favor----for people who are LATE AND for people who are ON TIME!!

Why should a person who is on time have a trial plan???

And remind him about the KISS theory!!

We are here, we are not going away.... WE intend to fight, fight, fight!!

[pdsfoley]

Mr Frahm...I'd like to know...WHY isn't there a specific protocol to these supposed loan mods? Why is there NOT one dept that handles the this? It gors from HRD to Office of the Pres. to Cust service back to HRD...then to advocacy and so on...And every single person you talk has a different story!!!

[BadBobMo]

1. principle write-downs when?
2. how many 2nd have they paid-off with the tax payer monies?
so many questions but so little time!!!!!!

[BobandArlyn]

AMAZING! We are not with BofA but sent the mail as well as friends supporting BofA customers. We hope that all the emails to BofA makes a difference for you folks and gets you answers soon.

We can almost bet that the word is out now about this forum to the other banks.....they all talk and we know it!

GOOD LUCK ALL BofA'ers!

[pdsfoley]

Also...What happened to The AG settlement??? That seemed to quietly disappear. How do you guys get out of a court settlement??? There was supposed to be principle reductions, no more Pay Option Arm loans...What HAPPENED???? WHY is it taking so long to figure out the "back end" of a principle forbearance???? Why don't you modify our loans??? Don't you want our money?? Everybody here on this site wants to SAVE their home...which means they WANT TO PAY....We can't because you guys can't or WON'T do anything. Please explain in laymans terms what BENEFIT does BAC get by NOT doing the mods??? I NEED to understand!!!

[Slim Shavings]

Reckon the Kansas supreme court decision figures in this any way ??

[ohhhdear]

Dear LoanSafe members,

It appears that the executives at Bank Of America have noticed our community. I received a call from Dan Frahm.

I want to ask you all what you would like me to ask Mr. Frahm?

This is our "moment". Make it count community!

You got a bailout to HELP the homeowners! Where is the help?

I want my 20 % deposit money back!

[Melanie702]

Moe, you are awesome! I truly appreciate everything you have done and ARE doing for us here at LoanSafe.org!

I agree with the others:

1. Why they told me 5 times I didn't qualify for any programs because I didn't have a surplus. DUH! That's the reason why I'm asking for HELP! Husband was laid off! If I had a surplus. I wouldn't be ASKING for help.

2. Why are they not sending in our files to be reviewed for the FHA-HAMP when I asked for it over and over. The guidelines say if I don't qualify for any in-house modification, I have to be reviewed for HAMP, but was told I didn't qualify.

3. Would like to know WHY they don't lower our rates and keep giving us the run around and lying

4. Why one department and ONE person can't handle our files instead of sending it here and there

5. Asking for the same documents over and over

6. STOP THE LIES LIES LIES (they will get you)

Melanie in Las Vegas

[ama125]

My suggestions for improvement:
1. streamlined process (possibly a secure website or page on BofA's site) to allow borrowers to upload their documents
3. set up local loan mod centers to assist borrowers (similar to how we file taxes at H&R Block, Jackson Hewitt, etc)
2. checklist for the loan modification process to improve transparency and efficiency (perhaps separate lists, one for the borrower and one for the customer advocate/negotiator, to ensure that all required documents are requested and received and that the steps to loan mod are understood by all and followed by all)
3. a time frame with a breakdown (x number days to review documents, x number days to work on a proposal, x number days to hear back from investor, etc)
4. a detailed explanation in cases where a mod is denied
5. a formal appeals process in cases where a mod is denied (similar to a credit card application getting denied...you are told the reason for the denial and given access to a copy of your credit report to dispute the findings)
6. access to the calculations used to determine the modification proposal to ensure that there are no errors (with this much data entry, there's bound to be some mistakes resulting in people being wrongfully denied)
7. when the borrower requests a specific program, like HAMP, that they be reviewed for that program first before being considered for other modifications
8. while being reviewed for any modification, all collections calls and foreclosure activities be suspended
9. better communication between assigned negotiator and borrower (when a change in status has occurred, the borrower should be notified perhaps through an email alert system)
10. if a package has been sent, give the borrower the tracking number via email so he/she will know when to expect it (I was told to wait for a packet back in April...it finally came in June! I was a nervous wreck every time a truck went down the street for weeks on end.).
11. a glossary of terms to explain to borrowers what things mean (not just general loan terminology, but also what the different stages of workout processing mean...active, referred, etc).
12. if requested by the borrower, any information regarding their loan(s) should be disclosed (such as the lender/investor, access to PSA if it applies, etc)
13. centralized database so that all subcontractors and collections personnel have access to the same information.

That's all that I can think of for now. If I come up with more, I'll post it.

Moe - YOU ROCK!

[AzGryffindor]

1. I would ask that Bank of America create a web site (similar to NACA) where homeowners can apply for a loan modification, upload their documents, receive real-time and accurate information on the status of their modification (such as missing documents, further documentation required) & view their trial period payments.

2. I would ask that Bank of America follow the HAMP guidelines as set forth by Fannie Mae and not make up their own guidelines.

3. I would ask Bank of America to assign ONE negotiator from start to finish and to provide homeowners with their email, mailing address & fax number.

4. If a homeowner is denied a loan modification, a detailed letter explaining exactly why that homeowner was denied must be sent within 2 days of the denial. The homeowner must also be given time to respond to the denial in case an error was made on Bank of America's part.

5. I would like to know if they even bothered reading this:
http://www.stopmortgageservicers.org...DT_7-16-09.pdf

[ohhhdear]

Thought of some more questions.

Why does the borrower have to sign the trial mod? Why doesn't BOA sign it, too?

Let him know we are on to their games.

And why do they use terms like "may be approved" instead of "shall" concerning the trial mods ?

[minknmelissa]

Yes, and thank you why do they lie so much. Why are there reps so rude the other day one of the reps was burping in my ear she had no respect for me at all.
I really want to know why do they make it so hard look at the making home affordable program there i can't them to look at that for me at all and i should be eligible. Its seems like to me they look at mha as the very last resort and if you don't push push push they'll never do it. I had someone lie to me the other day and tell me i was approved for mha he said his name was Bob, Bob Bob. Gave me numbers and everything when i called back they told me that he was just a collections guy. But this man who was working from b of A was just allowed to lie to me like it was ok thats wrong. Ask them why can they do things like this to people. And then make commercials saying they care, yah right.

[I'mSickOfThis]

I would like to know why we have to be delinquent to get their attention. First they want you to pay, then they want you be delinquent, then you have to show that you can pay again. Nuts! They're just nuts.

[Slim Shavings]

I would like to know why we have to be delinquent to get their attention. First they want you to pay, then they want you be delinquent, then you have to show that you can pay again. Nuts! They're just nuts.

No kidding
When I saw trouble coming I tried to get something in place then. My lawyer sent a full dossier full of financial's ,hardship letter, pictures, It was about 20 pages.
Then when I asked about it I get "Well there are some pics her but they are in black and white and I can't tell anything" routine. Then she told me she didn't get the rest

[Maurice Bedard]

Awesome input and I could not have done this without you all. This is a team effort folks and we can make things happen.

Mr. Frahm and I are going to talk tomorrow. I plan to list about 5 core questions to keep this simple. KISS. In the morning after we get a little more input I will list them here and then after we talk, I will let you know what was said.

FYI - I cannot be bought.

I am a capitalist, but I despise capitalistic pigs and mega corporations. I am an ex punk rocker who was completely anti corporate and anti bankers since I was 11. I think that time in my life helps me stay on course here and not care about more money than I need to live.

I know this may seem hard for some to believe. But here is where I need help.

How can we do something with a bank such as B OF A and not sign a contract and be at their mercy? I am not going to blow a chance to help you all, but I am not going to sign a contract.

Don't you think NACA has a deal with them and hell, even the US Treasury has a deal, what will make ours different? THINK ABOUT THIS, DEEP AND HARD PLEASE.


With that said, don't you all feel that the power in LoanSafe is being a neutral third party? And if so, how can we accomplish our goals without signing a contract?

[AzGryffindor]

Moe: Why would you need to sign any contract? Just what kind of a contract would they offer?

Quite simply, your website is getting more and more traffic as this loan mess continues to melt down. Beyond just the registered members there are probably thousands of people who are lurkers who are seeking information on how to save their home during these difficult times. That's how I found your website. I think that's how we all found your website, an oasis in the middle of what is a desert of information in regards to loan modification.

What gives you/us power? Numbers. Lots and lots of members & lurkers. If we band together to hit an assigned target it appears that we are being listened to. What we need now is some friendly press to help spread the word even further about our cause.

What I would like to see is BofA sign a pledge or agreement which would include many of the items that members have posted and then adhere to that pledge/agreement. If you could get them to do this with members of the press in tow........

[bloominga]

Moe this is WONDERFUL!! I am not BOA but sent in the emails to help everyone else. I know banks talk amongst themselves and hope that the other banks hear that we are all fighting to help everyone keep their home.

Green Tree, we'll be coming your way one day very soon!! We don't intend to stop until everyone gets a fair deal and knows they have a place to sleep.

Thanks again Moe!!

[Slim Shavings]

Contract my ass!!

Let Bank America use loan safe to post their principles as to what they will and wont do. Let it be open to the public. Let this be the place where the lawyer -ese is translated.

Put up the steps to get a loan modification if problems arise it can be negotiated right here or at least commented on.
And let the borrower decide if they want to start a thread the rest can follow how it goes. Let the BOA rep and the borrower have access to the forum thread and process to keep it real and truthful. Let it be a clearing house. If BOA is on the up and up it would be outstanding customer relations.
Me and my case handler can post right here as to what steps are being done. When where and how
It would be worth a few bucks to support the forum just to have the process tracked.

No damn reason they can't come on here and say "this is what we pledge to do"

They just put out press releases for overdraft changes. (didn't say they would not re-arrange transactions) but they say they are going to give the customer a break.

No matter what you think of Wal-Mart now Old Sam Walton knew when he started that being honest and helping the customer was the way to go. And built that place into what its become. Not so sure he would be so proud of everything they do now.

If ya want a contract. how about a contract with America AKA Newt

Why has being honest and straight forward become such a difficult thing

[helpsavemyhome]

First of all, I would tell Dan Frahm that I have been trying to get help for over a year now and it is extremely frustrating when I spend days at a time trying to contact people at BofA who do not return phone calls or emails. I leave voicemail after voicemail and get zero response (more often than not). The people who I have spoken with do not do what they say they are going to do..my file has 'slipped thru the cracks' continuously because of this.

Then I would ask him, WHAT EXACTLY DO WE HAVE TO DO TO GET HELP??! We are supposedly waiting for a principal forbearance program that doesn't even exist and I don't think we will qualify anyway, because we don't have Fannie or Freddie as an investor. Something tells me we have waited three months for nothing. I tried for a mod on my own, signed up with NACA, have sent letters to senators, atty general, and anyone else I could find an address for.....and I am still in the same boat....

WHAT GIVES?

[pdsfoley]

Contract??? NO WAYYYYYYY........they'd have some sort of loophole somewhere...just like they do now...Moe.......go with your gut!!!

[BobandArlyn]

Say it ain't so Moe! or just say NO, Moe, or NO MOE CONTRACTS! Get these BofA Homeowners their loan mods!

Thanks Moe.....

Got an idea though, Larry King Live is having Michael Moore on tomorrow night. He is taking on Capitalism in America....OHHHH, he'll stick it to Wall Street and the like.

Moe, how about emailing the show a question for Michael Moore, get him introduced to this forum....OH, he would have a Hay Day with this subject matter! Your thoughts? Here's the link: http://www.cnn.com/feedback/forms/form5.lkl.html

[GOSSIPSAIGON]

Please ask them to modify those who are current with their payments and treat them the same as those people who are six months late..

[Maurice Bedard]

Please keep the input coming. No contract will be signed and if there has to be one for legalities, you all can see and agree or disagree to it. It HAS to benefit you all and it has to have 100% transparency.

Lets keep it KISS. Keep the questions coming but also simple solutions that we can implement here on LoanSafe.

How about we do this easy solution?:

1. Private B OF A forum with B of A reps and only certified B of A members and clients are allowed.

2. Each member is identified by loan number or name if they wish

3. A groups of governors here manage the process and LoanSafe is 100% third party that acts as a mediator.

4. Clear guidelines on loan modifications in the private forum and no BS.

5. B of A trains out of work homeowners who complete the program to help others that will get paid here on LoanSafe as counselors.

6. B of A pays Loan Safe a fee for this privilege of "$?" a month and it is a month to month deal

[Maurice Bedard]

Say it ain't so Moe! or just say NO, Moe, or NO MOE CONTRACTS! Get these BofA Homeowners their loan mods!

Thanks Moe.....

Got an idea though, Larry King Live is having Michael Moore on tomorrow night. He is taking on Capitalism in America....OHHHH, he'll stick it to Wall Street and the like.

Moe, how about emailing the show a question for Michael Moore, get him introduced to this forum....OH, he would have a Hay Day with this subject matter! Your thoughts? Here's the link: CNN.com - Contact Us

Great idea. Let me contact them and see if we can get a response. Please do the same.

[Scurbdog]

Is this the email to the Arizona CBS new Article. Because, I received a call from De Vaugn, identified as an BOA Advocate wanting me to fax in all my papers again. I will with my counsel Wednesday. Then about an hour later some man from BOA called and seems all interested in talking about my situation. Not complaining but I'm treading thin ice because these bastards have made me gun shy.

[franklyspeaking]

Not to change the subject but could we not do something like this with each major lender/servicer and including NACA?

[ama125]

Please keep the input coming. No contract will be signed and if there has to be one for legalities, you all can see and agree or disagree to it. It HAS to benefit you all and it has to have 100% transparency.

Lets keep it KISS. Keep the questions coming but also simple solutions that we can implement here on LoanSafe.

How about we do this easy solution?:

1. Private B OF A forum with B of A reps and only certified B of A members and clients are allowed.

2. Each member is identified by loan number or name if they wish

3. A groups of governors here manage the process and LoanSafe is 100% third party that acts as a mediator.

4. Clear guidelines on loan modifications in the private forum and no BS.

5. B of A trains out of work homeowners who complete the program to help others that will get paid here on LoanSafe as counselors.

6. B of A pays Loan Safe a fee for this privilege of "$?" a month and it is a month to month deal

Moe, I like your ideas. I am a stay-at-home mom. I knew nothing about mortgages or modifications until I found myself in trouble. While I'm no trained expert, I think I've done a great job helping others on here and would jump at the opportunity to actually get paid to help others (though I do it now for free because I truly just want to help people save their homes). I was actually going to ask my HUD counselor if her office had anything I could do there since I've gotten further along in this myself than she has. I cannot thank you enough for all of your hard work! God bless you, Moe!

[CW California]

Here is one more question.

Why, when American have such high unemployment, are they sending jobs out of the country? Do they seriously think it is moral to have someone in India calling me on my late payment?

[pdsfoley]

Please keep the input coming. No contract will be signed and if there has to be one for legalities, you all can see and agree or disagree to it. It HAS to benefit you all and it has to have 100% transparency.

Lets keep it KISS. Keep the questions coming but also simple solutions that we can implement here on LoanSafe.

How about we do this easy solution?:

1. Private B OF A forum with B of A reps and only certified B of A members and clients are allowed.

2. Each member is identified by loan number or name if they wish

3. A groups of governors here manage the process and LoanSafe is 100% third party that acts as a mediator.

4. Clear guidelines on loan modifications in the private forum and no BS.

5. B of A trains out of work homeowners who complete the program to help others that will get paid here on LoanSafe as counselors.

6. B of A pays Loan Safe a fee for this privilege of "$?" a month and it is a month to month deal

Moe..........Youre a GENIUS!!! Don't forget to USE me!! I worked there for almost a year!!!!

[ama125]

Here is one more question.

Why, when American have such high unemployment, are they sending jobs out of the country? Do they seriously think it is moral to have someone in India calling me on my late payment?

Ah yes, the guy from India. I remember those days!

[ama125]

Moe - could you also ask if they are participating in the second lien program for HAMP and/or if they are doing anything with second mortgages? I appear to have a modification of some sort on the primary mortgage (this just happened today and I have no idea what it is yet just that it is showing up online now). Thanks!