Need desperate help with Bank of America Modification

[n_tran17]

I applied for a loan modification back in April 2009. They contacted me in june and told me that i didn't qualify since i was current with my mortgage. They told me that they have to break my loan in order to fix my loan. So they put me on a forbearance plan for four months which will put me behind for two months so i can qualify for a modification. The analyst told me that my credit will be protected the whole process. Now after beinbg done with the forbearance plan I'm to go back and making a full payment until Bofa can determine if I get a loan modification. i've been calling them every other day to find out when i will hear back from the analyst and was told that it would take 30 to 90 days to hear back and that they will report me late in November since I'm no longer on the forbearance plan. I'm so stressed because I don't want my credit to get screwed up and if I had only know that regardless in the end my credit will get shot to hell then I would have just stopped paying my mortgage four months ago and maybe would have heard back from Bofa for a loan mod. Is anybody in the same situation as I am? Now my property tax is due in Dec and I won't be able to pay that. I'm struggling to make my full payment in November. Is it better to just not pay my next payment so Bofa can get back to me faster or will they start the foreclosure process if I'm three months behind? I heard some people told me that Bofa has set up couple events where if you show up you can get help instantly on the spot. Any advise would greatly be appreciated.

[booggs28]

Originally Posted by n_tran17

I applied for a loan modification back in April 2009. They contacted me in june and told me that i didn't qualify since i was current with my mortgage. They told me that they have to break my loan in order to fix my loan. So they put me on a forbearance plan for four months which will put me behind for two months so i can qualify for a modification. The analyst told me that my credit will be protected the whole process. Now after beinbg done with the forbearance plan I'm to go back and making a full payment until Bofa can determine if I get a loan modification. i've been calling them every other day to find out when i will hear back from the analyst and was told that it would take 30 to 90 days to hear back and that they will report me late in November since I'm no longer on the forbearance plan. I'm so stressed because I don't want my credit to get screwed up and if I had only know that regardless in the end my credit will get shot to hell then I would have just stopped paying my mortgage four months ago and maybe would have heard back from Bofa for a loan mod. Is anybody in the same situation as I am? Now my property tax is due in Dec and I won't be able to pay that. I'm struggling to make my full payment in November. Is it better to just not pay my next payment so Bofa can get back to me faster or will they start the foreclosure process if I'm three months behind? I heard some people told me that Bofa has set up couple events where if you show up you can get help instantly on the spot. Any advise would greatly be appreciated.

Welcome and sorry for Skank of America: First, your credit is going to be shot regardless of forebearance or loan modification. I am sorry and I do not mean to be so blunt, but unfortunately that is the bottom line.

Second: once you have cone to terms with the credit score taking a dive, you will then need to decided how you want to proceed next. Since you are now two months behind due to Skank having to break you to fix you, you can proceed two different ways, you can try to scrap all your money together to make that payment and run the risk of not having money to pay other bills, get groceries, gas, ect. or you can hold on to what money you have and contact Skank of America next month when you are now three months past due.

Do not just listen to what one rep will tell you, you need to continue to call until you can get on a trial mod plan. You will get the run around, you will need to fax all information, maybe three or four times, however, if you do not continue to be persistant they will "misplace you". Contact their loss mitigation department also, there are contact numbers listed in the Skank of America posts that may be very helpful to you.

Please be aware that this is going to be a ridiculously stressful process and that it will seem as if it's a never ending climb, but if you are determined to save your home then you much prepare and arm yourself with all the information that you can digest. Look into what the HAMP program is, check to see if BofA is trying to put you into their "inhouse" loan modifications. Do not accept an offer because they are forcing you too, make sure you take the time to read and understand what your options are. And by all means, do not accept that they cannot help you.

best wishes
Teresa

[nativelasvegan]

Could not have said it better. I was worried about my FICO score. Skank told me that there was not a fannie mae program in place for me because I was current. Although he did not tell me to miss a payment for a better chance, I was able to read between the lines. I missed September and October. My stomach hurts, my head aches, my stress level is at the highest is has ever been. I have always paid my bills and not making the payments (I don't have the money now anyway since this has been going on since March) is incredibly depressing. I have their attention now and I have been qualified for the government program. Just waiting for documents now.

n tran, glad you are here. There is a wealth of information here and a great number of people who are willing to help.

[sick and tired]

I am with BOA and I am severly behind but they do not come and get you out for 3 months believe me it takes a lot longer than that

[nmwadam]

Originally Posted by nativelasvegan

Could not have said it better. I was worried about my FICO score. Skank told me that there was not a fannie mae program in place for me because I was current. Although he did not tell me to miss a payment for a better chance, I was able to read between the lines. I missed September and October. My stomach hurts, my head aches, my stress level is at the highest is has ever been. I have always paid my bills and not making the payments (I don't have the money now anyway since this has been going on since March) is incredibly depressing. I have their attention now and I have been qualified for the government program. Just waiting for documents now.

n tran, glad you are here. There is a wealth of information here and a great number of people who are willing to help.

I stopped paying in March, they offered me a Home Saver Advance loan and then never applied it so I simply stopped making payments on my mortgage until they decided to get on the ball. They made me fight 8 months but 2 weeks ago after flooding every top Bank of America executive with emails every hour, I finally got some action. BTW, I made sure that I copied every single new station email, my state attorney generals office, the banking department, the whitehouse, the senate, the house of reps....I am now on my 3 month trial period.

good luck and stay persistent. Call them every hour, you can find email addresses and phone numbers all over this forum....WE WILL WIN IN THE END....one way or the other~

[n_tran17]

I had emailed Barbara Desoer after getting her email from this website and got a response the next day telling me that they will have a negotiator contact me within 24-48 hours. Still have not heard from them since. Does anyone know how long it will take to hear back from the VIP loan negotiator?

[ama125]

Originally Posted by n_tran17

I had emailed Barbara Desoer after getting her email from this website and got a response the next day telling me that they will have a negotiator contact me within 24-48 hours. Still have not heard from them since. Does anyone know how long it will take to hear back from the VIP loan negotiator?

I did get a call within the stated time frame. If you don't hear something soon, contact the customer advocate that called you the first time.

[St.LouisBlues]

simply never give em another nickle unless they make a deal

nomatter what

[FormerBofAVictim]

(Removed for B of A Deal by Moe)

Good contact for anyone looking to keep their home and dealing with B of A.

Good luck.

[JaFlNowWhat]

Thanks for that info, I have been looking all over the net for it.

[kagee]

Don't wait for them to call you. I know it's stressful, but bombard them. Phone calls have not not been very successful for me because each person I speak to has no idea what I am telling them. I get a different answer everytime. It's very frustrating. BUT, hopefully it's documented that I called. As for emails, the same thing; you receive a reply saying they received your email and to call them. Why bother? But I do, now and again. I have been copying and documenting everything. I have written letters and mailed them through certified mail. I also sent copies of previous document, letters, emails, etc. along with the letters. My thought is that BoA can't see the forrest for the 'money' trees and we are the unfortunate they prey on. I received a letter yesterday telling me my modification was approved and my first payment is due 4/1/2009. I have loan paperwork dated for Feb. stating the same thing. I have been making the modified payment, per the loan agreement, since then. At one point, I supposedly owed more than $6000 in fees. It's at $20 now.
Don't let them dismiss you! Don't think that because they are a huge corporation that you have no recourse. And as much as I would like to think that the recent so-called good news I received yesterday is a good thing, I'm still leary. I don't trust them.
I wish you luck and hope things work out for you.

[chingy]

Quick question please-
We have received the paperwork to start a 3 month trial. If the 3 month trial is successful and they modify our loan, will they simply extend the loan term from 30 to 40 years or? I guess my question is that since our tax money bailed them out, are they (BOA) really going to give us anything or this simply modifying the terms of the loan to a longer period?

Thanks in advance.

[GrahamVegas]

I would suggest reading this entire thread:
Bank of America loan mod -SUCCESS!!
and then calling the last person who contacted you until you make progress. I emailed the letter on a Friday, heard back on a Monday, sent financial info on Tuesday, and heard from my negotiator on Friday. I called once a day, more or less, but never *****ed or complained, and if the communication stops, I will do as some of the above have recommended and carpet bomb their voicemails and emails until I hear from them.

Yes, our credit scores will suffer, but average credit score in this country is plummeting anyway. By the time the market recovers, most of us will be on the way to better credit, if anyone cares about that by then.

[n_tran17]

I did get a call last week from the VIP negotiator. She says I do qualify for the MHA program and just have to wait for paperwork for the trial mod.
she told me that it would take 3-4 weeks to see the paperwork. I just called the loss mittigation department to see if they can update me on my mod status and they told me that my loan is waiting for approval from the investor (fannie mae). Does anyone ever get denied after they've been told that they do qualify and will get the paperwork in the mail?

[HateBofA]

I have had nothing but the run around with B of A. My hubby lost his job and we lost a lot in our retirement, savings account and fell behind. I called B of A weekly, (beginning in January) and was finally offered a loan mod. Received the paperwork, in July, with first payment due September 1st, included the required contribution for the title search as ordered, signed and returned. Three months go by, and I continue to call as I've been making the payments.... and today, I get a call from our new "loan account manager" and he said that the previous loan mod was DENIED! After we signed and sent in the acceptance AND made the payments. He claims we had to pay $4k in mortgage contribution funds, though nowhere on any paperwork did it ask for anything other than $125. He and I go round and round and round and he then asks me if I want his help or not? He says I am hung up on the $125, and I tell him he's hung up on the $4k and he needs to look at the paperwork. I then inquire about the Obama plan and he tells me he knows nothing about it! Claims the "government notifies B of A as to who is accepted for it." I feel I am on Candid Camera or something. Nobody at this bank knows anything. I have pages and pages of notes with names and dates on them, and everytime I talk to somebody the story is completely different! In the 3 payments we have made our principal balance has gone up $7k and he tells me the money we have paid is being held. Held for what??? Put it towards my account. Help please!

[AZOwner]

PLEASE! Go to the Huffington article (link below) and post this story as a reply to the article. This is criminal. . .

I hope you do get your mod docs. Keep calling until you do!

[ama125]

Originally Posted by HateBofA

I have had nothing but the run around with B of A. My hubby lost his job and we lost a lot in our retirement, savings account and fell behind. I called B of A weekly, (beginning in January) and was finally offered a loan mod. Received the paperwork, in July, with first payment due September 1st, included the required contribution for the title search as ordered, signed and returned. Three months go by, and I continue to call as I've been making the payments.... and today, I get a call from our new "loan account manager" and he said that the previous loan mod was DENIED! After we signed and sent in the acceptance AND made the payments. He claims we had to pay $4k in mortgage contribution funds, though nowhere on any paperwork did it ask for anything other than $125. He and I go round and round and round and he then asks me if I want his help or not? He says I am hung up on the $125, and I tell him he's hung up on the $4k and he needs to look at the paperwork. I then inquire about the Obama plan and he tells me he knows nothing about it! Claims the "government notifies B of A as to who is accepted for it." I feel I am on Candid Camera or something. Nobody at this bank knows anything. I have pages and pages of notes with names and dates on them, and everytime I talk to somebody the story is completely different! In the 3 payments we have made our principal balance has gone up $7k and he tells me the money we have paid is being held. Held for what??? Put it towards my account. Help please!

So your mod was an in-house mod? Do you know if it was an AG mod (see thread: Countrywide California Attorney General Settlement - BEWARE of CW Cancelling Loan Modifications WITHOUT Notice). Are you talking to regular customer service (they are useless)? I suggest emailing OOP (see thread: Escalating your Making Home Affordable Program request to the Office of the President). Were you in a trial period or was this supposed to be a permanent mod and they reneged on the deal? Sorry for all the questions...trying to understand all the details. They are complete a-holes! So sorry you are going through this...hang in there. There are lots of us here that will try to help you out to the best of our abilities. Good luck in straightening this mess out! If all else fails, I would contact an attorney.

[ama125]

Originally Posted by n_tran17

I did get a call last week from the VIP negotiator. She says I do qualify for the MHA program and just have to wait for paperwork for the trial mod.
she told me that it would take 3-4 weeks to see the paperwork. I just called the loss mittigation department to see if they can update me on my mod status and they told me that my loan is waiting for approval from the investor (fannie mae). Does anyone ever get denied after they've been told that they do qualify and will get the paperwork in the mail?

Is your VIP negotiator from OOP? I have been trying to reach mine and not having any luck. What is the number for loss mitigation? Maybe they can update me. My loan is also with Fannie Mae and I was told to wait for paperwork in 2 to 3 weeks (this will be week 2). I was told that I was "pre-approved" whatever that means!

[nativelasvegan]

QUOTE nmwadam - I stopped paying in March, they offered me a Home Saver Advance loan and then never applied it so I simply stopped making payments on my mortgage until they decided to get on the ball. They made me fight 8 months but 2 weeks ago after flooding every top Bank of America executive with emails every hour, I finally got some action. BTW, I made sure that I copied every single new station email, my state attorney generals office, the banking department, the whitehouse, the senate, the house of reps....I am now on my 3 month trial period.

good luck and stay persistent. Call them every hour, you can find email addresses and phone numbers all over this forum....WE WILL WIN IN THE END....one way or the other

nmwadam - Are you on the HAMP program or an in-house modification? Can you tell me what the amount of your trial payment is and is there any info about what your permanent payment will be?

[n_tran17]

My VIP negotiator is from OOP. It's extremely hard to get a hold of the negotiator. I had to call a lot of times to finally get a hold of her. It sounded as if I got pre-approved for the modification but then loss mitigation told me that my loan is still waiting for a response from the investor. It can still get denied. Loss mitigation(800-846-2222) doesn't seem to have the VIP negotiator name on my account. I asked them and they told me they have a negotiator name not the one that Ive been talking to from the OOP. It has just been such a stressful process and I just hope we all get good results before the holidays come around.

[kagee]

Yes, I was told I qualified and began making the agreed modified payment. Didn't hear from them for 2 months, when they called to ask why I wasn't sending the correct payment amount. They wanted to send me a partial refund and asked me to send another payment for the original loan payment, not the modified. I mentioned that I would not cash the refund, and send it back to them. I never received the refund.
I have been fighting B of A for almost a year. They obviously are very poor at keeping records and updating accounts. The right hand never knows what the left hand is doing.

[nativelasvegan]

kagee. That is indeed true. They do not know what they are doing. Have you been assigned a "negotiator". That is what they are calling the employee who is handling your individual file. From my experience here, it seems as though the ones who are working with a "negotiator" are in a better position to receive a mod.

[kagee]

Almost exactly what happened to me, except I was not ask to pay anything. I would question that, definetly.
Send a certified letter to Nancy Doseor, the pres of mortage lending. Include copies of everything.
Good luck.

[Sprinklergal09]

I read through these threads and see that everyone is just as frustrated as I am. I have been dealing with BOA for over a year now. My husband passed away suddenly in Dec 2007. I was able to make payments for a few months after but then fell behind. Eventually in June of 2009 they set me up on a forebearence program for 3 months. I made the payments as required and during the last month I contacted them to find out the next step. I was then told I did not qualify under the home affordability program and that I could try for a "traditional Mod" (what ever that is) so I sent off the paperwork again waited two weeks called again was referred to NACA have not been able to get anyone there to respond to calls or emails. I am completely overwhelmed now. I have not received any paperwork from BOA since I started the forebearance program. When I call the house is not in foreclosure yet, I really want to work out something but can't get anywhere! Spoke to BOA two days ago told them NACA was not responding so they just gave me a different number still nothing!

[nativelasvegan]

Sprinklergal09 - I am terribly sorry to hear about your Skank of America experience. I too have them as my servicer, Fannie Mae is my investor.
1. Do you have a negotiator? If not, you need to get one. A negotiator is a bank employee who is specifically assigned to your file. Please read this thread for more information. Escalating your Making Home Affordable Program request to the Office of the President
2. I hate to say it, but you might need to send your loan modification application again. Please try sending Barbara Desoer an email. Tell her your situation and ask that a negotiator be assigned to you right away. Due to their non-compliance with the Treasury Directives, you are now in a position where foreclosure is eminent. Send the same email 5-10 times a day until you get a response.
3. As soon as you have the name of your negotiator, call them as many times a day as it takes to get an answer as to when you will be put on a trial modification, and then you will be put on a permanent modification. Tell them if they are of the opinion that you do not qualify for the President's program, they need to put it in writing and they can send it to you either by regular mail or email.

Please start your own "thread" so that we can all follow your story and help you.

LOANSAFE MEMBERS -- this might be the time for a "task of the day" to help this gal. Please hang in there Sprinkler. We will help you get through this with everything we have.