Need Advice about Bank of America Loan Mod.

[Veronica]

My fried has her loan with Bank of America and its owned by Freddie Mac. They need a loan modification because my freind was diagnosed with Breast cancer 1 yr ago and due to that she was reciving disablility income for 8 months. Currently that stopped and now the only one working is her husband. He makes about 2,000 month.

She can't refinance becuase her loan is more then what the house is currently worth.

Everytime they call BofA they tell them that they don't qualify because they are not late. They are living off their credit cards to pay bills each month. They don't want to be late and mess up their credit.

What can they do?

[LHarveyMadman]

What number is she calling? If she hasn't tried 800-846-2222, then she should. Under the new Home Affordable Modification Plan, a borrower does not need to be late to get a modification.

Several of us here were able to get modifications from B of A without being late, even before the Obama plan existed. Just about all of us were also told initially that we wouldn't get mods because we weren't late.

If calling that number doesn't get her anywhere, then have her prepare a hardship letter and send it to the executives listed here:

Bank of America loan mod -SUCCESS!!

If she does call, make sure she has all her financial information ready, because if she does get through to an analyst who will hear her story, then she may be asked to provide all this information at that time.