BOA is DOING NOTHING!! Been making Trial Payments x5 MONTHS!

**mustbepositive** · 05-06-2011, 09:45 PM

I sent her an email 2 days ago. Got a phone call from someone in her office yesterday and he assigned a negotiator.

**kellyg** · 05-10-2011, 02:14 AM

thanks for any help,i dont know where to turn

**kellyg** · 05-10-2011, 02:15 AM

gods blessings on all going thru same

**Cat Damiano** · 05-11-2011, 10:48 AM

kellyg,

Welcome to the forum and thank you for joining.............

Can you post some more specifics regarding your situation please? You have not posted any of the information that was asked above. Where are you at in the process? What exactly do you need help with?

**dcohee** · 05-21-2011, 10:32 AM

I have the exact same scenario, I applied for a loan mod, my husband (not on deed or title) his income was considered, I was unemployed, got temp job, lost that and now have no income. They were willing to accept his income for mod but not it isn't good enough? It seems strange that banks would rather do a short-sale and lose money that way selling to a stranger than work with the current home owners who have in "good faith" been sinking all their money into their home and continually losing. I am looking into a forensic Audit now, and file a case of unfair & deceptive business practices against my lender AHMSI. And hope for the best. And will continue to ride out the "Loan Mod" wave......and save my $$$$$$

**davephx** · 05-22-2011, 04:12 AM

Income not good enough is a simple math test.

Yes banks would rather lose money because IT IS NOT THEIR MONEY! .. usually.. they are just the servicer and get lots of fees and profits by foreclosing or next best a short sale. It is the investor or the taxpayer(If GSE backed) that takes the loss not the bank servicer who only gets lots of fees.

The HAMP 31% income test.

It is based entirely on Gross income. It would just not be practical for trying to make requirements based on net, it would be way to complex and no way to be as easy as based on gross.
Step 1
Gross income x 31% =

If your monthly payment on only 1st mortgage is lower than this you don't qualify since income is too high. If still qualified
continue to test for too low.

Step 2
Reduce by taxes and insurance to just get PI.

Step 3
Know Mortgage $xxx,xxx including any back payments due.

Step 4
You need an amortization calculator which are all over the web if you Google it to figure out the required PI at 2%-40 years
that is required.

If your Step 2 result is below the amount needed to amortize your income is too low without forbearance which while
"encouraged" under HAMP is rarely done nor for in house.

The bank folks could develop an easy to fill in worksheet so they could explain this to you. I bet they have easy access to
amortization calculators

**TxBofAVictim** · 06-02-2011, 11:36 AM

MY 6/7/11 FORECLOSURE IS CANCELED! I FOUGHT HARD AND THEY REINSTATED MY MODIFICATION! I followed advice found on this website and typed up bullet points of the last year of hell and every phone call I found on my work phone records, my handwritten notes and my cell records... I sent to the President/CEO in Dallas, TX and Simi Valley, CA - I got TWO calls back immediately and I'm reinstated completely. F/C is canceled YAY!!!

What happened to me is called Mod-Fraud - my letter mentioned the class actions that ongoing w/BofA, a letter sent by Greg Abbott Tx Attny General asking them to halt all foreclosures, a Bloomberg article dated 5/25/11 stating BofA has "Robosigners" approving Modifications that are never loaded on their systems, there is no assigned customer contact with BofA, then they send foreclosure notices and charge fees!!!

All the info I used is available on this forum and by Googling "Bank of America Foreclosure Fraud" "Bloomberg Bank of America article May 2011" - - googling both of these will give you PLENTY of results...

And the Pres/CEO names and info are available as well - - you have to Google "Bank of America Contacts for mortgage Fraud" - - you will find articles there that will lead you all over the place - people like you and me... but FIGHT!!! It took TIME, research and effort and I was a wreck, but it worked! WORTH IT!
Good Luck!