We have been trying to get a loan modification from BofA for almost 2 years. My loan is owned by BofA and we have finally been offered a trial modification which we have not yet accepted because it is way more than we can afford (even though BofA underwriters seems to think we can). The payment offered us is $450 more a month than what we were originally paying. Our account was recently flagged for review by the Department of Justice Settlement, but we have not yet received a letter. I am worried we may miss out on this opportunity as we have to reply to our modification by May 31, 2012 or foreclose June 15 or shortsale our home. Our home is about 300k under water and the trial modification is not taking this into consideration. All we are asking is for more time for the guidelines to be completed, receive our letter and a chance to see if we qualify for the new program.
Has anyone received one of these letters for the DOJ settlement and any ideas on how I can escalate our case. I have written letters to everyone I can think of from BofA to the Attorney General to President Obama. Our case is currently with the Office of the President but our agent doesn't seem to have any answers (Don't get me wrong he has been great to work with). Says there is no way to escalate and to either take the trial modification or shortsale.
We love our home and want to stay but I think time is against us at this point. Any help is appreciated. Thanks