After receiving permanent modification..

SmittyM

LoanSafe Member
Jan 16, 2010
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I know the BofA standard line for everything is "at least 30 days", but can anyone who's received permanent modifications tell me how long it seems to be before the account shows as "current" and reflects the new principal and payment amount?
 

Evan Bedard

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Aug 26, 2007
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I know the BofA standard line for everything is "at least 30 days", but can anyone who's received permanent modifications tell me how long it seems to be before the account shows as "current" and reflects the new principal and payment amount?
We have seen it take anywhere form just a couple of days up to two months or sometimes more:eek: BofA is quite ridiculous when it comes to this...
 

timmywit

LoanSafe Member
Nov 23, 2009
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Las Vegas
I know the BofA standard line for everything is "at least 30 days", but can anyone who's received permanent modifications tell me how long it seems to be before the account shows as "current" and reflects the new principal and payment amount?
Can we reach out to Deanne Martin for this. I am undecided if I am going to let this take it coarse or not, I am sick of calling these guys, I have now 87hrs logged in, 43 pages of notes. Those stupid fex ex envolopes come in handy! I have 5 that are full with crap. I know they have a clause on those docs it dose not become final until they send a signed copy back. Last thing I need is for these Bozos to loose that-I am wondering I faxing Deanne the signed page.
-they where suppose to give me a signed copy of the trial payment, village idiots all claimed they dont do that- "even though it said the trial payment is not valid until I get a signed copy from them"
 

SmittyM

LoanSafe Member
Jan 16, 2010
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Orlando - that's good news. I have to make my first payment, and I don't like the idea of it going straight to the suspense account, which is where they told me it's going to go until the account is updated with the new numbers.

Timmy - On the Permanent docs it also states that they will send back a signed copy of the agreement, but I have heard they do not do this. I had the notary notarize my customer copy as well as the copies that had to be sent back, so that I still have an ORIGINAL, NOTARIZED copy of the docs. Can't be too careful.
 

PhildVegas

LoanSafe Member
Sep 30, 2009
166
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Las Vegas, NV
Hi, Smitty--

My perm mod became effective at the start of February. Just this week my on-line account has been updated to reflect the new principal amount, terms, and payment (although the pmt. is a wee bit higher than what my documents say).

The account still shows as being past due, with the next payment due on 2/1. :) Go figure.

I, too, had the notary sign and date all 3 copies.
 

PhildVegas

LoanSafe Member
Sep 30, 2009
166
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Las Vegas, NV
Timmy:

I queried Deanne about this and she told me it takes 60-90 days to show the new terms. I'll take her at her word (and I have saved the email that indicates that they received the documents).

I think I would be careful about piling too many things in her lap. I think her talents are better served getting files pushed through to the final stage. Just my two cents, though.
 

aredeedubya

LoanSafe Member
Dec 8, 2009
125
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Iowa
It took more than 60 days for my online account to show my mod terms. Til then it just said referred. Now it is updated, but shows payment due 2/1 is late, and my transaction history shows that payment received! I don't call anymore, I will fight them again if they call me! Like Timmywit says, village idiots!
 

Brownie

LoanSafe Member
Nov 18, 2009
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It took more than 60 days for my online account to show my mod terms. Til then it just said referred. Now it is updated, but shows payment due 2/1 is late, and my transaction history shows that payment received! I don't call anymore, I will fight them again if they call me! Like Timmywit says, village idiots!
Aredeedubya - I thought you will have until 2/15 to be considered late for your 2/1 payment, no? Also, is your payment now being applied correctly (split out between principle and interest) and no longer sitting in the "partial/suspense" column?

Thanks.
 

AzGryffindor

LoanSafe Member
Jun 10, 2009
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It sounds like I'm in the same boat as the rest of you.

My online status updated this week to reflect my new principal balance.
It also shows my loan now as an adj rate. (which makes sense since my rate will be adjusting in 5 years)
My new interest rate is also reflected correctly at 2%.

But....the payment they show as due is about $10 short of what my perm mod docs state.

My first perm mod payment was due 2/1. I called it in on 1/29. They posted it to the partial balance account on 2/2.

My second perm mod payment was due 3/1. I called it in on 3/1. They posted it on 3/1 but they posted it as being my Feb payment.:mad:

I called this week to try to get things straightened out because it's showing a late fee! I had to go through 3 village idiots. Village idiot #2 couldn't see that my first payment had gone to the partial column until I repeatedly told her to SCROLL DOWN. Wallah! She then found it. She said she was requesting that payment be applied as my 2/1 payment. I also reminded her to make sure they dropped the late charge because I was not late! She said it should take 2 business days to make this change. (It's been 2 business days and it still has not updated. Ugh!!!!)

I then asked her about the 6 missing trial period payments (roughly $3800) that's been missing from my account since Dec 31. She said she saw that $3600 of that was coded as going to the foreclosure department and she would have to transfer me there.

Village Idiot #3 - Foreclosure dept. Ok, so this lady really wasn't a village idiot and was actually rather helpful. It just makes me feel better to call any BofA worker a Village Idiot these days. lol.

Anyways, she could see that our account was coded as a foreclosure but went through our account notes line by line and said that we were never in foreclosure status. She was making a request that our $3800 be applied to our principal balance and said it could take 6 or so business days for the post to be applied.

FF to today and I get our statement in the mail. On page 3 it states:

Important message about your Home Affordable Modification Trial Period Plan

You are currently participating in a Home Affordable Modification Trial Period Plan. During this Trial Period, you may make your monthly payments at the Trial Period monthly payment amount, which is $724.18 instead of the amount shown on this statement.

You will continue to receive monthly statements during your Trial Period Plan that will show the payment amount based on your original home loan agreement as your original loan remains in effect and unchanged during the trial period. You will be notified once we have determined your eligibility for a permanent loan modification.
Um....I have a perm mod. The above statement would have been nice while I was making my SIX trial period payments but bears no relevance now.
 

PhildVegas

LoanSafe Member
Sep 30, 2009
166
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Las Vegas, NV
I just checked my transaction history...lo and behold...they've applied all the partial payments as promised...and the partial balance is zero. The monthly payment is still showing $6 higher than the perm mod papers, but we'll see how long that takes to rectify.

It took 31 days after my perm mod due date.
 

nofedexyet

LoanSafe Member
Jan 7, 2010
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My online account status says new payment date and payment amount the same as my MOD agreement. Also says adjustable rate and new principal balance.
But it still shows past due amount?? ...
 

timmywit

LoanSafe Member
Nov 23, 2009
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Las Vegas
-boy oh boy I am going to be really excited when I have to start making payments! I am sure the Wizard of BoA "Deanne Martin" work will be done. I will be stuck talking to the village idiots again.

phildvegas-I think you are correct Deanne said once you send your permanent docs out! My work is done on your case. But if it gets too bad with the village idiots you bet I will email her for her guidence.
 

skyman

LoanSafe Member
Feb 1, 2010
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Mine was updated online about 10 days after signed and sent back. Hopefully it comes soon for you.
 

aredeedubya

LoanSafe Member
Dec 8, 2009
125
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0
Iowa
Brownie, no my payments are still in partial column. I have made 3 perm. mod pmts. on time. My account shows past due, but the payments show up in transaction history. Go figure. It still shows a 3/18 date, but says Approved, Complete. Also, I do not have the "Adj rate" on mine. Mine says Conv. Jumbo Conv. Mtg., and my mtg. was always under 200,000. Don't understand that, either. I don't know if I should call and stir the pot, or not. What do you guys think? Also, when I got my last pmt. coupon, it said the correct figures, but was for Feb. and I have already made that payment, so scratched out Feb., put March, and sent it cert. mail.
 

aredeedubya

LoanSafe Member
Dec 8, 2009
125
0
0
Iowa
Timmywit, congrats on your excellent mod! Welcome to the "post-nightmare" club! At least now, for some of us, it is less of a nightmare now, but do not forget, nothing is ever "completely fixed" according to them! They always seem to leave something for us to lose sleep over. However, I fought long and hard for this and no village idiot will discourage me now!
 

montana59451

LoanSafe Member
Aug 9, 2009
333
5
18
On Monday 3/1 despite the fact that we had filed Ch. 7 the Thursday before our neg., Lana Spektor updated our principal amount, trial payments etc. Although I cannot see my activity online except for the principal balance it is CORRECT as per my in house mod. It took only 13 days to update for us (we had to sign and notorize our mod twice because they had an error in the first year's payment which was the only change that was made (and that was just a typo...numbers didn't add up even for B of A!)

I was due to make my 3/1 payment, the first on my new perm mod and figured they would just hold the payment indefinately as per the BK dept, BUT it posted to my account 3/5 and was deducted from my checking account on that day as well!

So now I know that all is complete, all is done and I can sleep at night (well, after my 341 meeting anyway). But my house is fine
 

timmywit

LoanSafe Member
Nov 23, 2009
1,263
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Las Vegas
Timmywit, congrats on your excellent mod! Welcome to the "post-nightmare" club! At least now, for some of us, it is less of a nightmare now, but do not forget, nothing is ever "completely fixed" according to them! They always seem to leave something for us to lose sleep over. However, I fought long and hard for this and no village idiot will discourage me now!
aredeedubya-
I was sleeping good until a village idiot called my house just now it was 630AM-picked up the phone all it was a recording saying "please wait" "please wait" "please wait" then goes to please call back this number. So I called it this guy Randal from the hope team picked up the phone duh! we was there to inform me if I recived my fex ex package-went over the terms and guess what asked if I wanted to make my april 1st payment and told me the past due amount!!!!!
Then Randal told me I dont have to get my final docs notorized, becase there is no space at the bottom for a notory.
I am sure Randal is wrong-because Deanne told me I have to get these notorized.
This was the last thing I wanted to do is to speak to a village idiot. I went though most of last week not having to deal with a single on of these guys-I spoke with Deanne Martin and Rich in processing, they were great.
 

SmittyM

LoanSafe Member
Jan 16, 2010
158
1
0
I just checked my transaction history...lo and behold...they've applied all the partial payments as promised...and the partial balance is zero. The monthly payment is still showing $6 higher than the perm mod papers, but we'll see how long that takes to rectify.

It took 31 days after my perm mod due date.

Wow - your account seems to be running like clockwork. I'm crossing my fingers that mine is the same. I think there is something in the perm docs that states the payment might be slightly different once they reconcile all the funds in your account.
 

SmittyM

LoanSafe Member
Jan 16, 2010
158
1
0
aredeedubya-
I was sleeping good until a village idiot called my house just now it was 630AM-picked up the phone all it was a recording saying "please wait" "please wait" "please wait" then goes to please call back this number. So I called it this guy Randal from the hope team picked up the phone duh! we was there to inform me if I recived my fex ex package-went over the terms and guess what asked if I wanted to make my april 1st payment and told me the past due amount!!!!!
Then Randal told me I dont have to get my final docs notorized, becase there is no space at the bottom for a notory.
I am sure Randal is wrong-because Deanne told me I have to get these notorized.
This was the last thing I wanted to do is to speak to a village idiot. I went though most of last week not having to deal with a single on of these guys-I spoke with Deanne Martin and Rich in processing, they were great.

Timmy - I had someone tell me the same thing about not having the documents notarized, because there was no "notary page." Then another rep told me the mobile notary would bring the notary page with them, but yet ANOTHER told me the mobile notary was just a courtesy. In the end, I brought them to the BofA branch and the notary there wrote a line with the notary "blurb" and signed and stamped them. That had better be good enough :)