Quickly- I recd a perm mod fm BOA 1/2010 after Trial Period, terms bad, now spkg to OOP BOA re: reapplying w/either an in-house or MHA- my choice. HELP!
Ok I got a call from the BOA OOP yesterday:
Default Servicing Complaint Resolution
BAC Home Loans Servicing
P 877.430.1431 ext-14130
He said that they can only modify the loan twice during the lifetime of the loan.
So this is it. He said that I have to choose between applying for an in-house modification or one through MHA. He said he is not allowed to advise me either way. He only said that in-house is faster and goes through less hands and that MHA will take longer but has the $5000 incentive.
It was mentioned on this forum that it sounds like the first mod I was offered was in-house, but it did have the incentive and I have recently received letters saying that since I am behind in payments that I am no longer eligible for the incentive. What do you think?
Should I go with MHA over in-house? I've read that I should request a conference call w/HOPE and my BOA rep. Would this be acceptable in my case? Or would it just annoy BOA? I can make my mortgage pmts if they would just lower them from $2250 to $1600.
Would love a quick response- I have to make a decision soon. He also says that for legal reasons he can't correspond thru email. What is that about? No proof? Blah.
Thanks so much to anybody who has advice for me.