Question about making payment on forbearance

[helpsavemyhome]

We are getting ready to sign docs for a three month Special Forbearance and the first payment is due by 10/15. The docs state that payment should be sent to a P.O. Box in Van Nuys, Cal. When I spoke to Jonathan Murphy in Advocacy last week, he said we can send a cashier's check or personal check OR we could call and make a payment.

What would be the most effective and quickest way to pay to make sure they receive the money on time? I know a lot of people here on the boards have already started making payments, so just thought I would ask.

Thank You.

[Andrew]

Depends what type of forberance but usually they required certified funds. You can also call them and schedule your payments on the phone depending if the nego lets you make funds from your checking account. You can call 800-669-0102.

[merev]

I recommend Western Union...it costs an additional $12.99, but it gets there in 24hrs and you get a tracking number.
My first payment was a money order....it took 16 days to process...and they threatened to cancel my forebearance. I mailed it in plenty of time...told them it wasn't my fault that it sat on someone's desk for that long!!!

[Housebroken13]

I've made 2 payments over the phone, you'll get a confirmation number, it can take anywhere from 6 to 15 days fro them to withdraw the money just make sure you get the confirmation number before or on the due date, and you'll be good to go. You should not be assessed a $20 phone payment fee no matter what the rep. says on the phone.

[helpsavemyhome]

Housebroken, did you call 800-669-0102 (thanks fo the number, Andrew) to make your payment?

Thanks.

[Housebroken13]

Yes that is the number I phoned.

[helpsavemyhome]

Originally Posted by merev

I recommend Western Union...it costs an additional $12.99, but it gets there in 24hrs and you get a tracking number.
My first payment was a money order....it took 16 days to process...and they threatened to cancel my forebearance. I mailed it in plenty of time...told them it wasn't my fault that it sat on someone's desk for that long!!!

I just called BofA to make a payment and they told me to pay it by Western Union...the lady told me it goes to Countrywide Home Loans, but wouldn't it go to BofA since that's what our docs state? I'm confused..

[CW California]

Originally Posted by helpsavemyhome

We are getting ready to sign docs for a three month Special Forbearance and the first payment is due by 10/15. The docs state that payment should be sent to a P.O. Box in Van Nuys, Cal. When I spoke to Jonathan Murphy in Advocacy last week, he said we can send a cashier's check or personal check OR we could call and make a payment.

What would be the most effective and quickest way to pay to make sure they receive the money on time? I know a lot of people here on the boards have already started making payments, so just thought I would ask.

Thank You.

Definately make the payment thru advocacy on the phone.

[helpsavemyhome]

Originally Posted by CW California

Definately make the payment thru advocacy on the phone.

I tried, but the lady told me I have to pay it by Western Union...

[merev]

I have been in foreclosure, therefore they will not take a pymt over the phone. There are so many departments that your payment goes thru, it is no wonder they have no idea what is going on.
I chose to use Western Union because it can be tracked. They can't say they didn't receive the pymt if you provide the tracking number.

[j-nice]

Help-it should say in your docs how the Western Union should be addressed. I sent my 2nd forbearance payment by western union and it was addressed to BAC Home Loans Servicing in Texas. The "city code" was Bank of America Texas. And there is a special with with Western Union on Wednesdays. If you put "Happy" in the specials line it saves you half off the standard price ($6). I was very pleased with the Western Union service, my account was updated and the partial payment posted within 24 hours!

[CW California]

Originally Posted by helpsavemyhome

I tried, but the lady told me I have to pay it by Western Union...

Jonathon won't take the payment?

[Housebroken13]

This makes no sense! I've made 2 forbearance payments over the phone so far, I was given confirmation numbers in both instances it took an average of about 7 days for both payments to be withdrawn from my checking account. They should not be charging you $20 fee for making the payment over the phone either.

But if you are in foreclosure it may be different, I got into the forbearance program prior to.. so it may be different.

[helpsavemyhome]

I left Jonathan a voicemail yesterday afternoon and haven't heard from him.

The lady told me to use city code Drake and state code California. The odd thing is that she told me to use "Countrywide Home Loans" but my docs say BAC Home Loans. Will this make a difference?

I definitely like the idea of getting a tracking code...that way, they can't say they didn't receive the payment. I will try using the Happy code to get half off! Thanks for telling me about that J-nice!

Thanks for your responses everyone! I appreciate it!

[helpsavemyhome]

Jonathan just called me back..whew..he said he updated my account so I won't have any more problems making payments over the phone. He didn't offer to take the payment, though, so I think I am still going to send it Western Union since it's due tomorrow.

He said to go ahead and use the city and state code that the lady gave me yesterday and to use Countrywide only because they didn't update it to BAC.

[hope67]

Originally Posted by helpsavemyhome

Jonathan just called me back..whew..he said he updated my account so I won't have any more problems making payments over the phone. He didn't offer to take the payment, though, so I think I am still going to send it Western Union since it's due tomorrow.

He said to go ahead and use the city and state code that the lady gave me yesterday and to use Countrywide only because they didn't update it to BAC.

Before going thru the trouble of sending your payment via Western Union, call the retention group and try to make the payment over the phone. Jonathan may not be in a department that is allowed to take payments. As far as I know only the Retention department can take the payments over the phone. He already told you that he updated your account so you should not have any problem making your payment over the phone.

[j-nice]

I have a question, and maybe I am just becoming paranoid in my 110% financially stressed out head, BUT WHY am I sending my forbearance payments to a Plano, Texas address and you guys are sending them to a Cali address?? Does it make a difference where your payment goes and the final turn out for a modification??

Does anyone out there on a forbearance plan have the BAC Home Loans Plano, Texas address on their docs???? This was an orginal CW location. I have Fannie Mae as my investor if that helps. My forbearance was offered through the Advocacy department that works with NACA. Plus, I used to send my regular payments to a Texas address before my life got financially ugly.

[kbspots]

They always told me to use Western Union, but they are expensive. Kind of defeats the purpose in my opinion for a loan mod or forbearance.