We just received approved loan modification documents from the BOA, that we have to sign and mail back to the BOA. I read on the forum about three month trial period. BOA documents do not mention anything about a trial period. Does it mean that this loan modification is permanent? Or can they cancel this loan modification?
After our loan modification is complete, do we have to stay living in the house or can we rent it out? Can BOA cancel our loan modification because our primary residence becomes a rental property?
Another question. Can BOA cancel our loan modification if a few month after a loan modification, you buy another property and pay cash?
If a retired person decides to shortsell his house, can the bank go after his 401K?