You gotta love BofA!

[julie]

They are of such comfort to distressed homeowners and they really care about their valued customers! And the politeness of the reps, wonderful! Especially mine, since I've let him know that I record all our conversations, he is just so exquisitely polite! I just reached the dear man, after a couple of weeks of phone tagging, and he give me this oh so surprising news that they're turning down my loan mod application, he regrets deeply of course, and he suggests trying for a short sale. This is weeks after he turned me down for a short sale, and suggested applying for a loan mod. I'm showing no signs that this dumb-ass situation might be driving me crazy, except for not knowing what to do with these carefully dated digital recordings . . .

[Erik Sandstrom]

Hi Julie,
I'd hate to break it to you but without expressed consent that you're recording the conversations to the rep you're speaking with you will be unable to use the recordings against them in any legal proceeding. Bank of America (Bunch of ________) has been given directions that if any phone calls are being recorded to disconnect the call immediately. Which it sounds like this is what you have done but I'm very surprised that the rep stayed on the phone with you.

That and you would also be going up against one of the largest institution in the United States. If you haven't tried contacting the executive office I would try that. If you've been denied the loan modification you can always re-apply. The numbers all have to make sense for loan modifications (it all comes down to that) and if they don't they will not modify your loan. It's a very difficult process but it CAN be done!

I do sincerely hope whichever direction you & your family choose is the best. If you have any questions don't hesitate to ask.

[julie]

I did let him know that I was recording him, and no he did not hang up. Instead he became quite syrupy.
I'm not in a position to waste more time on yet another application. The repairs needed are too great so the market value is nowhere near what Zillow says it is. In this case it's best to just walk away and take advantage of the fact that it is a non-recourse loan. Fannie Mae looses more money but the rules are the rules.

[Inbcla]

I did let him know that I was recording him, and no he did not hang up. Instead he became quite syrupy.
I'm not in a position to waste more time on yet another application. The repairs needed are too great so the market value is nowhere near what Zillow says it is. In this case it's best to just walk away and take advantage of the fact that it is a non-recourse loan. Fannie Mae looses more money but the rules are the rules.

I completely understand. We are upside down about $40K in our home, its a double-wide back in 09 it appraised for $135 but now we can not even sell it for about 83,000. We have had a few HUD homes in my subdivision go for 30,000. Very sad. our only blessing in this, if you would call it that, is we filed in 09 and our loan debt was included in the bankruptcy. we continued to pay until now. We need a new air conditioner but since we are not personally liable for the debt, we are going to be walkers here in La. The funny thing is I work for a title company and I see HUD contracts come across my desk. We had up to 40 at a time.. Its very sad to see and hear these stories of hard working people lose their american dream. BEFORE we realized that our loan was discharged, we tried for a Mod with BofA, and we were turned down then we received a call that they needed more paperwork, then we received 2 letters saying we were turned down again, then we received another call saying they needed more paperwork!??!! REALLY?? When they pulled the credit report it was only then that they realized we had been discharged! Not sure how long it takes before we get the letter to vacate, but we will be saving each month till that happens..