My CW story continues....what a mess!!!!

[rozuki]

Ok, BofA has been doing something with my account...some of the info has been changed to reflect what was on the modification. My principal balance has changed, the new payment amt is listed....yet my transaction history doesn't show the new payment I sent them a week ago.

The mod paperwork stated I should send the payment to the Simi Valley, CA address. So I mailed it off a week ago....yet it still hasn't been cashed...and now it's already July 2nd!!

I have tried calling various numbers, but can't get a live person who can tell me if it was received!!

So frustrating.......

[wildcats21]

I am having the same issue except nothing has been updated on my account. I sent in my payment june24th along with a copy of our mod since we have not received a statement with our new payment. Also I sent it with delivery confirmation and I sent it to the address that it said to on the mod. My check has never been cashed and according to the delivery confirmation the received it on the 26th of june our first payment was due july 1st. Called boa this morning they connected me with the modification dept. and it has not been posted so they are going to have david L. call me today so I should know more later, when was your first payment due.

[cobra]

Rozuki and Wildcats;

I have the same issues. I sent my new payment amount to the address on the payment coupon. I had called BoA last week and the lady said to just go ahead and send it to the regular payment address(I think it was Dallas). So I made a copy of one of the mod pages, hi lighted the new payment amount and sent it delivery confirmation requested. My online workout page info was changed last night to reflect mod completed, but no mention in the rest of the online account information of the made payment, new amount, etc. As of today the check has not been cashed.
Thats where it stands with me.

Cobra.....NACA mod approved

[wildcats21]

I would give them a call and see if your payment was posted that way you at least know and you have delivery confirmation to back it up.

[rozuki]

I did manage to get a live person yesterday...who, of course, said that's not his dept. He switched me to the standard number for collections. i just hung up.

I sent the payment to the CA address, not the Dallas TX one on the payment statement...because that is what it said to do on the mod paperwork. I also sent a copy of the mod paperwork highlighting the new payment amount.

Just had an idea! I will call Juanice at the President's office today and have her see what is going on....

[annejojo]

Hi all, I'm new to this forum and while I have not been successful at a loan modification just yet, I want to thank everyone on this forum since it has given me so much hope and support.

I bought a condo back in 2006 (peak prices) with my boyfriend who I was going to marry. After one year living together at the condo, we called it quits. I know, stupid thing to buy before you get married but I cannot take it back now. The agreement was I would own the condo so I returned all the money he put into the condo, every penny. I have been trying to refinance for over 1.5 years now and it has been impossible w/out putting a huge chuck of money down that I do not have. Since then, I have been trying to do it all on my own but the condo has significantly depleted my savings. Soon after that, I had a significant reduction in my income since my company is also experiencing hardship. I shared this with a friend who told me about loan modifications. Soon I started my research and this is how I found this great forum. I faxed all my paperwork back in April to bofa and after 3 months, they put me on forbearance. Currently I'm awaiting for the forbearance period to end so I can have a negotiator assigned to my case. I have one MAJOR question. Rozuki/anyone, if you can help me, I appreciate it. First and foremost, I need to lock into a 30 year rate at which I can afford (I am going to have to foreclose at this current rate). Secondly, which leads to my actual question, most loan modifications will not remove a person from the loan? How can I approach the bofa rep who will be assigned to my case to see if a loan mod is possible and if so, how we can remove his name from the loan. All the info I have submitted to bofa up to this point has excluded him. Besides his name on the current loan, all the money and time I have put into my condo is from me. Also, he recently got married so it is in the best interest to remove is name. I would appreciate any help/suggestions.

Thank you!

[HereinNY]

Suggestion..call in your payments to the advocacy dept 1-877-327-9225 instead of mailing them..they will give you a confirmation number. My payment took 2 days to post to my account.

[jakelabry]

Annejojo - that's a really tough one! The ONLY way to remove someone from a loan is to refinance it. I take it, that's not possible in your case

[nativelasvegan]

Originally Posted by annejojo

Hi all, I'm new to this forum and while I have not been successful at a loan modification just yet, I want to thank everyone on this forum since it has given me so much hope and support.

I bought a condo back in 2006 (peak prices) with my boyfriend who I was going to marry. After one year living together at the condo, we called it quits. I know, stupid thing to buy before you get married but I cannot take it back now. The agreement was I would own the condo so I returned all the money he put into the condo, every penny. I have been trying to refinance for over 1.5 years now and it has been impossible w/out putting a huge chuck of money down that I do not have. Since then, I have been trying to do it all on my own but the condo has significantly depleted my savings. Soon after that, I had a significant reduction in my income since my company is also experiencing hardship. I shared this with a friend who told me about loan modifications. Soon I started my research and this is how I found this great forum. I faxed all my paperwork back in April to bofa and after 3 months, they put me on forbearance. Currently I'm awaiting for the forbearance period to end so I can have a negotiator assigned to my case. I have one MAJOR question. Rozuki/anyone, if you can help me, I appreciate it. First and foremost, I need to lock into a 30 year rate at which I can afford (I am going to have to foreclose at this current rate). Secondly, which leads to my actual question, most loan modifications will not remove a person from the loan? How can I approach the bofa rep who will be assigned to my case to see if a loan mod is possible and if so, how we can remove his name from the loan. All the info I have submitted to bofa up to this point has excluded him. Besides his name on the current loan, all the money and time I have put into my condo is from me. Also, he recently got married so it is in the best interest to remove is name. I would appreciate any help/suggestions.

Thank you!

I do believe you can get the ex to sign a quitclaim deed. He needs to quitclaim his interest over to you. Tell him he will be held liable for the debt. That outta do it! Get a quitclaim deed off the internet. I have one if you need. I'll even help you with recording requirements, etc. Just let me know if I can help you.

[Moe Bedard]

Please go here. We must fight B OF A for change and real help on LoanSafe.org!!

http://www.loansafe.org/forum/countrywide-home-loans-tell-us-your-countrywide-story/15971-frustrated-bank-america-special-email-get-help-today.html

[annejojo]

After talking to the bofa negotiator this morning, I couldn't stop crying. Since April, I have been waiting patiently for a loan modification. I could not have reached this point w/out this forum and w/out all the people in this forum. Thank you! Contacting the OOP was definitely what sped up the process.

I currently have an arm at 5.5% which is going to end in one year. My negotiator gave me a 40 year loan at my current rate of 5.5% but for the first 5 years, it would be reduced to 2.5%. This is going to definitely help me today but I'm not sure 5 years out will be enough. I asked if it was possible to have the 5 years at 2.5% pushed out and she said the 2.5% was the lowest rate she could give me and 5 years was the max.

Today, I have depleted almost all my savings b/c of this house. The 2.5% will help me get out of debt, but 30 years at 2.5% would help me get back to where I used to be. Please let me what you think my next action should be? I know a few ppl have found better modification terms with NACA. I'm just afraid that I will lose out on this or is that no possible? I do want to keep my home since I have invested so much into it. Is asking 2.5% for 30 years asking too much?

Thank you.

[jakelabry]

Originally Posted by nativelasvegan

I do believe you can get the ex to sign a quitclaim deed. He needs to quitclaim his interest over to you. Tell him he will be held liable for the debt. That outta do it! Get a quitclaim deed off the internet. I have one if you need. I'll even help you with recording requirements, etc. Just let me know if I can help you.

Quit claim only removes an individual from the title, not the loan. The loan has to be refinanced to remove a party from the debt.

[nativelasvegan]

True. I stand corrected.

[annejojo]

Thanks for the info. Right now I'm going to concentrate on the modification so I can save my home. I cross my fingers for the mod. After that, I will see if I can assume the loan or look into other options. Worst case, I will have to live with his name on the loan which is ok since we are in good terms. I will definitely do the necessary paperwork to make sure it is all documented and he cannot claim any interest.