How long does it take for BofA to update account online with new payment

feellost · 11-13-2009, 02:37 PM

Hi, I sent my modification agreement (signed and notarized) to Bank of America on 10/30/09. My first payment is January 1. Does anyone know when my online account will be changed to reflect the new amount? The Workout section of my account says modification has been approved and completed and all the documents are in, but the old amounts are still there. I also sent them my new homeowners insurance info and it is still showing the old lenders placed insurance. Thanks.

Evan Bedard · 11-13-2009, 03:27 PM

Hi feellost,

Quote:

Hi, I sent my modification agreement (signed and notarized) to Bank of America on 10/30/09. My first payment is January 1. Does anyone know when my online account will be changed to reflect the new amount? The Workout section of my account says modification has been approved and completed and all the documents are in, but the old amounts are still there. I also sent them my new homeowners insurance info and it is still showing the old lenders placed insurance. Thanks.

Since these lenders are so overwhelmed with modification requests it may take anywhere from a couple days to a few weeks to get it uploaded in their systems.

Have you called to make sure they have received the paperwork?

feellost · 11-14-2009, 11:14 AM

yes, I called and they got the papers on November 1. The website says they received the papers. It's just not showing the new numbers.

Evan Bedard · 11-16-2009, 01:39 PM

If they stated they have received them you should be ok. I would just continue to follow up every couple days until the new payment shows up on your account.

feellost · 11-16-2009, 03:57 PM

Yes, that's what I've been doing. It's just frustrating (like everything else about loan modifications :-)). I just have to be patient. Thanks.

Evan Bedard · 11-16-2009, 06:57 PM

Your very welcome.

Please stay strong and keep us posted!

Brownie · 11-18-2009, 01:03 PM

feellost - I too have signed, notarized and sent my loan modification agreement back to Bank of America early October. My new payment starts on 12/1/09. I haven't seen my online account updated as of today so I'm not sure why it's taking so long. I was told to just mail a cashier check to the address on the agreement until they finalize all the paperwork and mail me the coupon booklet. I'm still worry something can happen between now and then (ie. BofA will change their mind and decide to cancel my loan modification). I did try calling the automated phone system and I got a message that my account should be reviewed by 12/20. Not sure why? Has anyone who has gotten loan modification approved by BofA experience this delay in having their accounts updated online? Thanks.

kagee · 11-19-2009, 04:36 PM

I began making modification payments in April. B of A is very slow at updating anything, and from my experience the info online was the last in line. My account was updated approximately a month ago, so about 7 months for me.

Brownie · 11-19-2009, 05:02 PM

Hi Kagee - were you making payments directly to their Plano, TX location and when did you receive your coupon booklet from B of A?