Bank of America - Home Loan Modification
Replies
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No, but I went through Chase and was denied 3 times. They are the devil. It was an aweful process. They kepy making resubmit things over ad over saying I hadn't sent it in. It was hell, honestly. I hope BOA is better for your sake.0
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Mindy, we were denied at first and then out of the blue they put it through. We did our trial payments which was around 3 months I think.. but then nothing. We're still paying our trial payments because that's what we were instructed to do, but all I keep seeing on our mortgage statement is the "past due" balance getting larger and larger (and it didn't do that when we were on the official trial status).
Kind of getting worried. I seriously don't want to lose our home because of something they're screwing up.0 -
Oh wow! That is very scary. I would contact them ASAP!0
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Mindy, we were denied at first and then out of the blue they put it through. We did our trial payments which was around 3 months I think.. but then nothing. We're still paying our trial payments because that's what we were instructed to do, but all I keep seeing on our mortgage statement is the "past due" balance getting larger and larger (and it didn't do that when we were on the official trial status).
Kind of getting worried. I seriously don't want to lose our home because of something they're screwing up.
We are in the same exact boat. They denied us with one letter then the next day we got a letter saying we did qualify. We've done our trial payments and we've sent in the notarized agreement. We're still getting mortgage bills saying we owe quite a bit in past-due payments.
My husband has tried calling them with no response on their part. I don't know whats going on but I'm about ready to stop paying again because they sure respond then!0 -
I don't think we ever received a notarized agreement? I'm going to have to check into that.
What I did find out though is since 12/30/2011 they've been putting our "trial" payments into a partial account which now has a balance of a little over 4k. A friend of mine works with someone who used to work for BoA and showed him our transaction history. Apparently they're putting that money into that account and it's used if we ever default on the loan to pay for the attorney fee's. So our mortgage balance is never dropping, nothing is going into escrow (though they're still paying our property taxes as well as our homeowner's insurance so that's now at a negative) and we've never once been late on our mortgage whether it was the trial period or beforehand.
Super frustrating. We have a FHA loan and I was advised that if they don't call us back soon, to go straight to the FHA; it being a federal agency.. they don't tend to screw around.
Didn't BoA get sued recently over something involving their Home Remodifications? Seriously tempted to contact an attorney.0 -
Bank of America is the biggest bunch of unhelpful pain in the *kitten* people I've ever had the misfortune to work with. If you can move your loan to another provider, do it asap and save yourself a lot of headache.0
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At this point, our credit is so far damaged no other bank will touch us I'm betting. Until your mortgage becomes officially re-modified and you sign your new note, they report you to the credit agencies as not paying the full amount.
I am trying to put out some feelers though.0 -
I don't think we ever received a notarized agreement? I'm going to have to check into that.
What I did find out though is since 12/30/2011 they've been putting our "trial" payments into a partial account which now has a balance of a little over 4k. A friend of mine works with someone who used to work for BoA and showed him our transaction history. Apparently they're putting that money into that account and it's used if we ever default on the loan to pay for the attorney fee's. So our mortgage balance is never dropping, nothing is going into escrow (though they're still paying our property taxes as well as our homeowner's insurance so that's now at a negative) and we've never once been late on our mortgage whether it was the trial period or beforehand.
Super frustrating. We have a FHA loan and I was advised that if they don't call us back soon, to go straight to the FHA; it being a federal agency.. they don't tend to screw around.
Didn't BoA get sued recently over something involving their Home Remodifications? Seriously tempted to contact an attorney.
Call the FHA right away. If you think they are doing anything shady in the least someone needs to be aware. FHA is awesome for that because they are government and they are already keeping an eye on them. B of A has been in lots of trouble over their loans.
We have an FHA loan too - we got our denial letter, called the FHA the same day who told us they have to work with us and if BofA wont FHA will, then we got our acceptance letter in a packet that included paperwork that had to be notarized and sent back.
If you haven't received the paperwork that you had to notarize there is something fishy going on. They can't legally modify your loan without your written consent and so you may be in arrears even though you thought you were getting a loan mod.0 -
Call the FHA and get a lawyer FAST! Maybe find some others in the same boat and see if you can group together with the lawyer. Our neighbor had been dealing with BoA trying to get a re-fi or a modification.....he is losing his house. One person told him to reduce the payment by 30%....then another person told him to skip payments so the paperwork wouldn't get messed up because the bank was so back logged on paperwork..... then he got the foreclosure notice from another person. BoA's right hand has no idea what the left hand is doing, and it's head is up it's butt. He is fighting, but it may be too late. No other lender will touch him. Good Luck!0
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I don't think we ever received a notarized agreement? I'm going to have to check into that.
What I did find out though is since 12/30/2011 they've been putting our "trial" payments into a partial account which now has a balance of a little over 4k. A friend of mine works with someone who used to work for BoA and showed him our transaction history. Apparently they're putting that money into that account and it's used if we ever default on the loan to pay for the attorney fee's. So our mortgage balance is never dropping, nothing is going into escrow (though they're still paying our property taxes as well as our homeowner's insurance so that's now at a negative) and we've never once been late on our mortgage whether it was the trial period or beforehand.
Super frustrating. We have a FHA loan and I was advised that if they don't call us back soon, to go straight to the FHA; it being a federal agency.. they don't tend to screw around.
Didn't BoA get sued recently over something involving their Home Remodifications? Seriously tempted to contact an attorney.
Call the FHA right away. If you think they are doing anything shady in the least someone needs to be aware. FHA is awesome for that because they are government and they are already keeping an eye on them. B of A has been in lots of trouble over their loans.
We have an FHA loan too - we got our denial letter, called the FHA the same day who told us they have to work with us and if BofA wont FHA will, then we got our acceptance letter in a packet that included paperwork that had to be notarized and sent back.
If you haven't received the paperwork that you had to notarize there is something fishy going on. They can't legally modify your loan without your written consent and so you may be in arrears even though you thought you were getting a loan mod.
I am going to go home tonight and look at the paperwork they sent me and I'll let you know what it says. According to everyone I've talked to there though, they show us as being under the loan modified system.0 -
Call the FHA and get a lawyer FAST! Maybe find some others in the same boat and see if you can group together with the lawyer. Our neighbor had been dealing with BoA trying to get a re-fi or a modification.....he is losing his house. One person told him to reduce the payment by 30%....then another person told him to skip payments so the paperwork wouldn't get messed up because the bank was so back logged on paperwork..... then he got the foreclosure notice from another person. BoA's right hand has no idea what the left hand is doing, and it's head is up it's butt. He is fighting, but it may be too late. No other lender will touch him. Good Luck!
And that's what I'm scared of -- losing the house. If/Because our credit is now trashed, if we lose our home -- we're screwed.
-- edit to say - I've called an attorney's office; just waiting to get a return call.0 -
I too was approved for a modification with BOA and finished my 3 month trial this month. I have been trying to contact the Account Manager that is supposed to be helping me with this about what the next step is and EVERY time I try to call her VERSELDA is her name her phone # tells me that the systems are having errors and to try to call later and hangs up on me. I have been trying to contact her for 3 months now with no help from the other customer service reps I can get to answer the phones. I am very tempted to contact a lawyer...per FHA only has a email address or a mailing address to contact them. I see that I am not the only one going through this so any additional feedback would be greatly appreciated. Anything I would say if you are going through this also please let me know what you have done and if it got you anywhere..So far I have left a voice mail for her manager to call me back by Wed Oct 31st or I will be contacting an attorney. Threats might work but I will post what I find out. Fingers crossed that this works!0
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I got purchsed by BofA about 5 years ago.
I was already modified by my previous bank and bofA said that the old modification was no good.
i have not paid my mortgage in about four years but just want on the trail mod three months ago.
Final payment is Nov 01.
I make all my payments by phone so I will ask the lady "what now"?0 -
Oh, for what it's worth.
I also hired a foreclosure attorney.
It was 2 grand but, having him know the in's and out's of all that paperwork has been a life saver.0 -
Yes and its a pain in the *kitten*$$$$$$$$
I loathe BoA0 -
OK... I made my last payment on the trial.
After I made the payment I asked "What now?"
The girl transfered me to my new Account manager (my fourth one in three months).
I left him a voicemail explaining that I made my last payment and would he please call me back.
That was yesterday.
I still have not heard back.
I sent an email to my attorney and he suggested that I continue to make the payments every month as a show of faith (hell, I haven't paid in over three years so, why not.)
So, we will see where all of this goes.0 -
Yikes. All I can say is I've heard HORRIBLE things about this Bank. My work is going from Wells Fargo to BOA for our purchasing cards and my boss is soooooooooooooooo livid about it because she had a HORRIBLE year long experience with a home loan and BOA. I don't know all the details but... sounds like I would get out if possible and quickly as possible.0
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I work for Wells Fargo in the Home Mortgage department and I am not just saying this because I work here but we do things right. Constant contact with the customer and always overly willing to help. BOA is no bueno.0
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The problem with getting out of BofA and into another bank is nobody can (still) tell me what my principle is.
Once I get this mod locked down, I am outta there.0 -
OK...
My wife just texted me and said the modification paperwork came in and she said it "looks good".
That is absolutly a positive sign.0
This discussion has been closed.
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