Any Bank of America or BAC modifications in November?

[Riley18]

There seems to be some HAMP mods recently, but I haven't noticed any from Bank of America. Am I missing something?

[survivor]

Interesting thought. My negotiator which is always prompt with return calls and email, is MIA, and voicemail now saying on vacation...

[Riley18]

Everyone that I know with a mortgage at BofA was switched to BAC this month. At first I thought it was just "bad" mortgages that were being switched, but I have since found out they switched others too.

So....is the fact that no mods seemed to have happened this month a result of their moving their mortgages to BAC? Will the mods start in December or is this another ploy for the bank to use so they can continue to pretend to try to comply with the HAMP programs, etc.

[Riley18]

I just checked the county records for foreclosures and there are more BAC than Bank of America ones now. It worries me that even though BAC is part of Bank of America, it will look like Bank of America is not foreclosing on customers.

I might be getting paranoid with all this stress, but it looks to me like this shifting customers to BAC is how BofA will get around any bad publicity for taking TARP money and then not acting in good faith. They will just say that all their customers were helped.

There are so many people losing their homes to foreclosure just on my small county website. I just wish there was a way to get all of them united with us because I think too many people are just staying isolated and ashamed while the banks rip them off. We are the new "silent majority"

[ama125]

I came across this blog. Wonder if there is any truth to this... Bank of America Foreclosure Shenanigans? naked capitalism

[Riley18]

Originally Posted by ama125

I came across this blog. Wonder if there is any truth to this... Bank of America Foreclosure Shenanigans? naked capitalism

Thanks AMA. It seems to be saying what I am thinking. The article makes sense in that BofA will not be the one foreclosing on homes, but will be leaving that to BAC. I did not realize that BAC came about from the Countrywide purchase. I really do think they have planned this to get around to foreclosure which is more profitable than modification. Also, with my luck I will probably be foreclosed and out in 90 days.

[ama125]

I see you are in Florida. Your state AG is pretty fed up with the banks. I'd be sure to contact your AG if you haven't already. My loans were both CW so I got the BAC welcome kit when they took over. It was great...came three days AFTER they sent me a notice of default! Thanks for the warm welcome!!!

[Riley18]

Thanks again I will contact the AG this week. I think I sent a letter a few months ago, but this time I will call them. Also, thinking of calling Freddie Mac again too. It would be nice if someone would do something with these banks, but it looks like they have everyone in their pocket.

[Riley18]

I mean if I could figure out their scam, then it is pretty hard to believe that our government does not know what they are up to. Maybe they helped them come up with it in the first place. I hate how the senators and congress act like they are dazed and confused every time the banks get another one over on us. The scary thing is that they don't care that we know. How else to explain giving the cc companies 9 months to rip us off even worse. Also, the way they handed over the TARP money without any restrictions. They just asked them to play nice and share. It is really disgusting. Sorry for the rant

[SimonSaysSo]

Originally Posted by Riley18

There seems to be some HAMP mods recently, but I haven't noticed any from Bank of America. Am I missing something?

I haven't seen many HAMP mods in November either. I am one of those whose BofA online account states that the Loan Mod is in "active processing" and that there will be an update by 11/23. I would bet my house that I do NOT get an update whether I am approved or denied by tomorrow.

[jdubu2]

my online workout said active processing until Friday. it had a date of 10/14/09. Friday it went to approved. I still have not heard from anyone at BofA, the last time I talked to my negotiator I was told I would be getting HAMP. I am hoping for the best, but expecting the worst with them. we all know anything is possible. I think it's best to be proactive, but not paranoid.

[elizabethlou]

I am waiting also made my 3rd MHA payment and was told waiting on manager approval?? I asked my negotiator if it is being sent to Investor for approval and I was told no It is going for manager approval?? whatever that means I called this week and was told nothing yet so i will check back tomorrow also I asked about my Dec payment and I was told to make my mod payment so that will be payment #4 for trial payment....
So I wait and wait ......

[vacaville]

HI everyone..Does anyone know how long before you get your final Docs after you make 3 trial payments?

[ama125]

That is the million dollar question...it is too soon into this program to give an accurate response. All the servicers are swamped and people across the forum have been making trial payments for long past three months, some seven going on eight now.

[jrolfedrev]

What about if your with NACA? Can they still foreclose? It's time to go to the banks executive house and camp out at their lawn to force them to help the homeowner.

[Garry]

Originally Posted by vacaville

HI everyone..Does anyone know how long before you get your final Docs after you make 3 trial payments?

Some banks seem to be completing mods with-in 30 days of the 3rd payment, unfortunately BOA doesn't appear to be one of them yet. My paperwork was sent in after a fourth payment, don't ask me why, I was only required by contract to make three. They said I should be getting a fed-ex around the first of Dec. It should have been the first of Nov, but what-ever. So, at the moment it looks like BOA is running about a month behind others.

[Garry]

Originally Posted by Garry

Some banks seem to be completing mods with-in 30 days of the 3rd payment, unfortunately BOA doesn't appear to be one of them yet. My paperwork was sent in after a fourth payment, don't ask me why, I was only required by contract to make three. They said I should be getting a fed-ex around the first of Dec. It should have been the first of Nov, but what-ever. So, at the moment it looks like BOA is running about a month behind others.

P.S. Don't stop making your payments!

[Roberto77]

I also received an "Approved" online update on 11-19, even though I have made only one HAMP trial payment. I hope these "Approved" notices are not a mistake -- seems that a lot of them came on 11-19.

That new Forbearance rule effective 12-1-09 has me a little worried, as I need forbearance to reach the 31% payment.

[huz715]

where can find That new Forbearance rule ?

Thanks!

HUZ

[Riley18]

Just wondering if there were any Modifications started in November with BofA?

They are dragging their feet with finalizing the trials they already have started, but I have not come across anyone on this site that actually had a mod started this month with Bank of America or BAC.

Any trial payments set to begin in December?

[johngor]

riley My first trial payment starts Dec 1 and I have been seeing quite a few others where there trial payment starts on Dec1, Jan 1st. All where written agreements

[Riley18]

Originally Posted by johngor

riley My first trial payment starts Dec 1 and I have been seeing quite a few others where there trial payment starts on Dec1, Jan 1st. All where written agreements

Thanks and congratulations I keep thinking they should be getting around to mine soon, but we'll see.

[Roberto77]

Huz, There is a good discussion about the new 30% Forbearance rule under sub-forum Making Homes Affordable Made 5th payment then denied

[Parra4000]

Denied after 8 months tryal payments on time. Hi I enrolled in the making home afordable program in august last year I payed on time 8 trial paymentes and yesterday 04/01/2010 they told me I was denied for home modification(did not qualified for modifications), I tried to get some anwsers after all the stress and hours on the phone with them, they only said they wore sorry I paid April's payment on March 31 and was denied on April 1. I was told that afer 7 days forclosure procidings will continue and I should look for other options....I now owe 8 months of late fees plus the diference of regular payment and trial payment wich come to $13.000 and I don't have it. Now when I call back the only thing they ask for is if some how I can aford to make the payments that are past do on my accont ....

[Guy703]

Hello Parra4000 .... Did you try to contact the OOP for BofA? I suggest you do that.