Loan Modification Countrywide/BA - Invester Aurora

[mom111]

Servicer - Countrywide (BA)
Invester - Aurora

Upside down...

Need a fixed rate...Never late
Lots of debt...on time payments on everything...but living month to month and getting very difficult.

Two kids with medical needs, divorce, death, ...

What are front end/back end ratios? What do they mean? What should they be?

Been denied before, but they had my house valued from the year 2006...Said my LTV made me not eligible...this was end of March.

Please advise...starting process again. I would like a fixed rate...as I am on a fixed income...(Teacher).

Thanks...any advise...signed up for session with NACA...couldn't get date til the fall. Hope I make it that long. I have never been late on my mortgage.

[Evan Bedard]

Hi mom111,

From the MHA modification program guidelines:

"Front-End DTI is the ratio of PITIA to Monthly Gross Income. PITIA is defined as principal, interest, taxes, insurance (including homeowners insurance and hazard and flood insurance) and homeowners association and/or condominium fees."

"The Back-End DTI is the ratio of the borrower’s total monthly debt payments (such as Front-End PITIA, any mortgage insurance premiums, payments on all installment debts, monthly payments on all junior liens, alimony, car lease payments, aggregate negative net rental income from all investment properties owned, and monthly mortgage payments for second homes) to the borrower’s Monthly Gross Income."


You can try emailing Barbara dosoer she has helped many here get their process started in a timely matter:

Barbara J. Desoer
President Home Loans and Insurance
Bank of America
100 North Tryon St.
Charlotte, NC 28255
barbara.j.desoer@bankofamerica.com

[Evan Bedard]

Hi mom111,

From the MHA modification program guidelines:

"Front-End DTI is the ratio of PITIA to Monthly Gross Income. PITIA is defined as principal, interest, taxes, insurance (including homeowners insurance and hazard and flood insurance) and homeowners association and/or condominium fees."

"The Back-End DTI is the ratio of the borrower’s total monthly debt payments (such as Front-End PITIA, any mortgage insurance premiums, payments on all installment debts, monthly payments on all junior liens, alimony, car lease payments, aggregate negative net rental income from all investment properties owned, and monthly mortgage payments for second homes) to the borrower’s Monthly Gross Income."


You can try emailing Barbara dosoer she has helped many here get their process started in a timely matter:

Barbara J. Desoer
President Home Loans and Insurance
Bank of America
100 North Tryon St.
Charlotte, NC 28255
barbara.j.desoer@bankofamerica.com

[mom111]

Went to NACA at LA Convention Center. Awesome organization. Spoke to a "negoitator" named Austin Williams from Bank of America. He said someone from their Palmdale(or Lancaster, CA ) office would be contacting us in a week. It has been over 2 and a half weeks. I have heard nothing. NACA says it is pending.

Any ideas...please advise.

[Evan Bedard]

Hi mom111,

Went to NACA at LA Convention Center. Awesome organization. Spoke to a "negoitator" named Austin Williams from Bank of America. He said someone from their Palmdale(or Lancaster, CA ) office would be contacting us in a week. It has been over 2 and a half weeks. I have heard nothing. NACA says it is pending.

Look up their Palmdale office number right away and give them a call..

[mom111]

I actually went to get their number from Bank of America today when I made my payment (interest only of course)...they printed out from their "Corporate Directory - Business Card" Actual B of A Printout...the number I was given was 1.800.806.2434 ext 8736

It was a chat line...nothing to do with B of A. Currently I am on hold with B of A via a different route.

Thanks. I am trying.