Bank of America review: loan modification 126

My mortage was countrywide, which is now Bank for America. I have miss 4 month payment on my loan due to lost of one income. MY house is a co-op apartment with a mortgage payment of $ 1, 088 per month with a maintance fee of $ 1, 060 per. I call Bank of America and stress my situation and ask for help, they denie me serval times and one day i recived a letter my Bank of America for Forbearance for six month. I did not understand what it meant untill, i got a lawer to speak with bank of america on by behalf. My lawer said that he spoke them and they are not willing to help me. Beacuse I did not sign the paper and sent it back to them and that my first payment was due in october 1 2009. Forbearance is a tempory relief, my situation is not temporary it is permanet. Forbearance agreement and repayment plan is not the best intrest for eithe party. Why can Bank of Amercia help modifie my my loan. I am willing to let go of the house, i am better off renting a apartmet. I think Bank of Amercia is the worst bank for helping people stay in there home, why are they giving people a hard time when the goverment help them with tax payer money.

please remove my name and address on this complaint

My sister and brother in law live in ny, and they have tried to get help with Bank of America several times...they told them to get another part time job...also then they finally offer them a so called modification...where the first three months they will pay additional more $100 more and then after that they will be saving $75.00 a month on there monthly payment. This is insane that is no help at all. plus they stated that they are going by my brother in laws yearly salary and not there monthly debt and thats how they are judging there so call modification.

Bank of America also stated that they dont go by there monthly debts ...but yest they ask for there monthly debt information...also bank told them that the monthly associations fees is not considered a debt...well if you dont pay your monthly association fee they can also forclose on you.

So the outcome is that my sister and brother in law decline that package so called modification and now they will see what else they could do for them...right now they are in a interest mortgage which we all know is illegel mortgage/loan.

Wheres the help for these people that really want to keep there homes! the bank has not even bother to offer them anthing else.

Go to NACA...they are great and there services are free. You can fill out your application here. NACA may be able to negotiate on your behalf...they did for us and got our payments reduced.

https://www.naca.com/index_main.jsp

Click on the At Risk Homebuyers and start there.

Bank of America has been giving me the run around since August of 2009 about my loan modification, no one seems to know where my papers are or what my status is, after sending them W2, letter of hardship and everything else they needed. Some under writer named Jenny Palmer is suppose to be getting back to me and never does, They have been telling me to call back, once when I called they told me I didn't qualify now it's a new story, can't get any answers from these guys and they are not following any government program for modifications, I need real help is there any real help against BOA?

Bank of America is the worst bank in the world. I too was told I would qualify for a program. Then 3 calls later you dont. I have talk to many people in different departments. I have been transfer and had to tell my stories multiple times. I have names and times and dates. How long I was on hold. And they still did not help me. Then they have the nerve to send me a survey. I told them they stunk. I have not heard from them about the survey. SOMETHING NEEDS TO BE DONE WITH BANK OF AMERICA. I told them they should be ashamed for having the word America in their name it is a disgrace. I asked one representative WHAT WAS THE PRESIDENTS NAME AND ADDRESS. They did not know and I was transferred to someone else. Who sort of knew but had to look it up. POOR CUSTOMER SERVICE. A DISGRACE TO AMERICANS. If I ever get them paid off, I would and will not deal with them again. Every chance I get I will tell people how awful they are AND DO NOT DEAL WITH THEM. I have paid my bills and have been with them for 14 years. I am having problems making ends meet and were are they calling me every day for beening late 118.00 dollars for the last 2 weeks. Threating me that I have to pay them the full balance. I was a good customers cannot imagine what other people are going thru who lost their jobs. Merry Christmas to all of Bank of America's customers and good luck
I hope you get away from them soon.

Bank of America agreed and promised to a loan modification on our home FOUR months ago. We keep making our payments on time---the old higher payment that is---and they will NOT complete the loan paper work. When we call Bank of America we are given the run around---they have not even assigned us a representative for contact purposes! Bank of America is evil!
Bank of America had no problem in accepting the bail-out money from the U.S. government that they used to increase their pay bonuses!
We have been ripped off by this corporation called Bank of America! Now I know it is best to use small regional banks and credit unions---smaller fees, good customer service, and the very same FDIC insurance that big banks boost about.
I may have been a fool once...but never twice. Do the same thing and help your county out by using small local institutions...and not the "big" lying greedy companies.

When I applied for a Bank of America loan modification they told me that I was pre-approved for four months, that the new payments replaced the old payments for the next four months and included all principle and interest.

Now I'm getting bills for the original amount plus late fees, noting the agreed upon payment as a 'partial payment.'

I am curantly unemployd, called for loan modification on [protected] talked to Anita was prequalified on the phone and was tolled to wait for a packige that'll came to my house within 45 days. Today is 01-14-2010 never got anythink, called 14 times to see the progress and have list i of people i have talked. Who can help me?

I would suggest you use a professional. I personally used Corey Lassiter at Clear Image Financial Group. His number is [protected] ext 231. He tells it like it is. They give you a free assessment and tell you if they can help you or not, and if so what you qualify for. He told me everything I was going to go through before I went through it. Then after my husband and I tried it ourselves for about 5 months and got nowhere we went back to Mr. Lassiter, and in 63 days they had me approved. I suggest you all give him a call who are at your wits end, or about to lose your home to foreclosure. He can help! It cost you absolutely nothing to call!

You all sound like children... wanting someone to help you like you deserve a hand out. Everyone else (who, unlike you, plans for the future, stays out of debt and knows an interest only loan or an ARM is a bad idea) has to pay for all your stupid mistakes. You're dragging all our home values down and making us pay higher interest rates. The bank should foreclose on you and make you live in a shopping cart where you belong. Leave the help for people who really need and deserve it.

I'd also like to point out that Bank Of America did not originate any interest only loan. And when they received the bailout from the government they turned around and gave it right back.

Itut, you are a jerk and have no respect for others situation, who may be victims of predatory lending. Your situation can change too and you can get foreclosed. Then you would know how others are feeling. Shame on you.

Try NACA - they seem successful in reaching Bank of America. They are free. Somewhat cultish in behavior, but you will stand a decent chance through them.

Avoid loan modification companies. I have been scammed by a company called Rezn8 Financial Services and I think they are all about the same: http://local.yahoo.com/info-44915003-rezn8-financial-service-fremont

Yay! Another scrote bag that we can all bail out!

They told us the same thing when they were supposedly trying to work with us, for 6 months our payments were cut in half, I paid as agreed and at the end of the 6 months I received a bill for the rest of the difference not paid as part of the 6 payments. So at the end I had a bill and 1 month to pay back all the money from the past 6 months that we didn't originally pay plus fees, I believe it amounted to like $4000. I called them regarding this and got nowhere, I don't know what they expected if I couldn't afford to make my payment in full for the past 6 months why would I have $4000 just sitting around at the end of the 6 month time period? If I had the money then I would've paid it in full to begin with, did they expect me to hit the lotto? It makes no sense, at no time did I realize this was part of agreement, otherwise what would've been the point! Good luck to you and hopefully everything works out for you.

The current raid on law firms representing people in modifications, is a way to deflect the press from reporting what is really going on. Which is the abusive modification process that is taking place by BofA and other too big to fail banks. Let's face it, the elephant in the room is not the American Dream concerning health care, but the American nightmare concerning the loan modification process. It is OUTRAGEOUS, considering that they have received a bail out from the American Tax Payer, who is also the average American Home Owner. After receiving a bail out in the billions from the American people, these banks have the audacity to harass, delay and humiliate us during the loan modification process called HAMP. How long do these banks think that the American people will tolerate this? One of the BofA representatives even went as far as telling me that the government can not tell them what to do. I found this strange, because I never mentioned the government with the BofA representative. So, I can not help but feel that BofA is bitter and is taking it out on those of us seeking a loan modification. It is also readily apparent, that BofA feels that they only have to meet their obligation to the government by CONSIDERING a loan modification with zero accountability. It is time that we make BofA accountable!

BofA knows very well that the average homeowner requesting a modification does not have the funds to represent themselves legally. So, the FBI raiding one of the largest and most reputable law firms, will only serve these banks potential agenda. An agenda that might be to scare any law firms from representing the people. This current action by the FBI is not the solution, but a symptom of the over all problem. It is also blurring the lines in regards to who the real bad guys are. It will also further delay the process of reputable law firms like United Law Group from filing legitimate law suits. In retrospect, United Law Group is not only helping me represent myself in this law suit, but every American who is going through the loan modification process.

So please, help me and United Law Group send a message to BofA which states, that we will no longer tolerate their potentially irregular, fraudulent and abusive business practices. In the end, the American tax payer did not fail to deliver the BofA bail out in record time, but BofA failed to deliver the American Tax Payer’s bail out in the form of a loan modification. It reminds me of that song by John Lennon and George Harrison titled "Piggies" I invite you to listen to this song on youtube and see if it appropriately fits.

God bless,
John Wright
Tax Payer and Home Owner

See Article About Lawsuit: http://content.usatoday.com/topics/article/Organizations/Companies/Banking, +Financial, +Insurance, +Law/Bank+of+America/0crf90x5fNesm/1

This is how I feel about what BofA and these too big to fail banks potentially did to us:

Song: Piggies by George Harrison

Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.

Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.

In their sties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking.

Everywhere there's lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.

We have a mortgage that was acquired by BOA when they bought out Countrywide. I contact them almost a year ago about my husband going out on disability because of knee surgery. We sent in all the appropriate documents and made sure to make ourselves available for any calls fromt the bank.
In August we were denied the Making Home Affordable program and placed into a modification request. We recieved paperwork from BOA the week after Christmas for the modification, signed and returned it the first week of January. The paperwork stated that the modification loan would begin in February. I sent in the February payment (which was supposed to be the 1st payment for the modification) the first week of February. I noticed online that our payment had not posted by February 16th so I called to get a status. I got ahold of my negotiator and found out that the paperwork we had signed and returned was sent to us in error. There had been some issues with several modifications being sent out even though they had not been approved.
I then asked my negotiator what to expect next. She told me several times that any further paperwork received she would notify us about. Stating that she would personally contact us about EVERYTHING that was taking place because of this error.
At the end of February (not even 2 weeks later) we received more paperwork. Again we signed and returned the paperwork. Now I have been contacting the bank only to get NO RESPONSE from my negotiator. She does not call me, does not answer my calls, and does not respond to ANY of the messages that I have requested to have sent to her. I don't know what is going on and just want a status on our modification. I feel like something shady is going on and am appalled to see that the LARGEST mortgage company is treating a customer like this. I have hired a cousilor to assist us with any further contacts with BOA and have also obtained a lawyer to help with the situation. I am sick of being jerked around by BOA.

All mortgage companies have got together and made a plan to sabotage America for all our money. This is my theory.

I was laid off in March 2009, thankfully, I have been working part time, but with a much reduced income, and when I do not work, I receive unemployment. I've been current with my mortgage, tried getting a loan modification and after 9 months of calling BofA every week, they were able to lower my payment $40/month. HOWEVER, this would cost me $2500 in loan modification fees.

How long until someone REALLY does something about this vs. just talking about it?

Bank of America thrives on customer service and how they care about their customers... This is not the message I am getting with them. I have been a Bank of America customer since 1994. Due due the economy, my husband's wage was cut by 40%. We have been trying to work with B of A since December. They have been giving me the run around since day 1. I don't want to lose my home. Why does Bank of America not choose to help those that are attempting to make payments? I was going through a workout plan with them and they decided to cancel on me because according to their records they attempted to call me once! Yet, I have a phone log that indicates I left them messages over 24 X. I filed a complaint with Bank of America's corporate office... do you think I have heard from them? I am so frustrated. Any suggestions?

I have been going thru the same hell with B of A first they have been pulling my leg, they offered me a trial modidification package knowinf gull well i dont qualify for a modiofication and will fail the NPV test they offered me this trial mod becuse i complained to the CEO's office and I was a former employee, when i called to get the status of my modification I was insulted by the reps, laughed at, told i was given this package to shut me up and i will eventuallly be forclosed on that the bank is buying some time to gain funds, when i again confornted the corp office via email about this they of course denied all of these allegations I recorded all of the calls emails etc. About 173 of them in total. 12 months later still on trial payments and no answer on Modification but thats oaky JOkes on u b of A ill keep my home in the end Ill fight tooth and nail and do all I can bankruptcy etc. Just so that I dont give them the satisfaction of playing me for the foool. I cant wait for my denial so I can sue their pants off!

I lost my son and husband, suicides in 2008, and wasn't able or didn't care to pay my mortgages . When I received a letter from BOA about foreclosure on my home I decided to contact them about my problem. I had heard about the modification and decided to try and see if I could get help from BOA. They were eager to take my money and send me forms along with a list of things that I needed to send them back. For the first three months I paid them $1200. I faxed them the same material that I had mailed to them several times just to learn that they hadn't approved my modification as of this date. I made my trail period payments for a year now and it has gone up to $1417. a month. Now, I learned that I have to pay late fees on the months that I wasn't able to make payments and they seem to have made my mortgage on my home from $180, 00, that I bought the house for in 2006, to $185.000. When I got myself in this mess my mortgage was $178, 00 . Some days I feel like fighting with all my might to save my home and then there are days that I feel like walking away from the whole mess. I am not asking for a handout but a little assistants in trying to work with my bank in saving my home. How can they keep taking people's money and not being responsible for their end of the bargain? Gayle Crump

BOA approved a modification for a couple who were eight months behind. The husband was unemployed and about to receive a life insurance and inheritance settlement of over 50 grand. He sweet talked the BOA rep (he was a salesman) into telling him how to get through the modification process and was told how to manipulate the app to the penny. He was told he was short 900 bucks and then made it up with bogus income. So, they do modify WHO they want. Maybe it is the reps that handle NH or who are so susceptible to mind control that approve these. So, this couple is sitting on a modification of first and second mortgage and was allowed to go 8 months late. The worst part is knowing that they have 50, 000 cash in the bank. So, how DO you pick who you will modify BOA? I can prove all this, also, BOA, so you should police your employees better.

I have been a loan client of Bank of America since 2008 after they absorbed my original loan company, Countrywide Mortgage that my mortgage was with since 2001. I have always had an impeccable payment record and never missed a payment. Since the housing market crisis last year, and as has been the case with many others caught in it, the mortgage on my home has surpassed its current market assessed value.

As a single income mother with 2 young daughters, and due to the loss of child support income, I proactively sought your assistance and applied for a loan modification with Bank of America at the beginning of this year. I had submitted my original application on January 27th, 2010 but sent my February mortgage payment in full which was received on February 5th, 2010. It was not posted until February 19th, however, which apparently made me delinquent. The cancelled check does show it was received the first week of the month, but it was placed in a forbearance account and not entered into the record.

I was informed that I pre-qualified for a loan modification and was placed on a trial plan for a three month period. I went ahead and paid the modified trial payments of 1208.37 for the months of March and April. Not having heard anything about the status of the modification, I contacted your institution on April 15th to inquire. It was at this point I was informed that the application had been denied the previous day, April 14th stating I was not in imminent default. I never received a denial letter and I was advised that, despite all the money sent in during the trial period having been received, my account was now showing as severely delinquent.
I was then told that I would be referred to a different department of Bank of America who would see if I qualified for an alternative program. I was to receive an application packet within 2 weeks. Nothing was ever received. I recontacted Bank of America again and was told that I would receive something within 10 days that the bank was backlogged with applications and they would send it out.
Again, nothing was received.
When I called back, I was now informed that, due to the loss of child support not being considered a qualifying hardship, the timeframe to work out an alternative solution had expired and I was in arrears in the amount of $3800 which would be required immediately to bring the account current. Not to mention I was told to “try to make it a year in the house and I could apply for a mod again at that time”.
I explained that I could not afford this amount which was the reason I attempted to be proactive and contacted you at the beginning of the year in the first place.

Instead of working with my situation, I feel I was set up to fail just so your company could foreclose on my property despite all my attempts at wishing to work out an amicable solution. I now have to move my self and my kids all because I attempted to proactively save my house but you didn’t feel I was at risk of hardship nor did you feel my loan was worth modifying to keep my family in our home.
I don’t understand why the trial payments were good enough for the trial period which was put in place to see if I could make the payments, which I could in a timely manner yet I was still denied. Why set up the trial period payments with a borrower if you are just going to deny them at the end of the period. That’s what the program was intended for correct?
The making home affordable plan was designed to help homeowners keep their homes. I also understand that the government helps the mortgage companies who help their clients. I have been making this mortgage payment for over 10 years without 1 late payment ever and when I needed the help you were not there to assist me.
When you have a borrower able to make those trial payments and fulfill the loan obligations on the property it makes no sense that you would deny them and take on a foreclosure. When I entered into this I was not delinquent, my loan was paid on time every month. Once entered into the program I was then delinquent and denied. The modification states that once the trial payments are made that the loan would be modified and the payments would continue at the rate the trial payment was set at, not to mention if your mortgage was over 31 percent of your income you were eligible and my income is 52 percent of my income yet I was denied. I do not understand the practice here.
I will let people know of my experience with your bank not that it will make a difference to your institution but other people need to be aware that you do not help those that actually need it. We will be moving but I just wanted you to know this was one home you could’ve helped save from foreclosure.

I recently applied for a loan modification from Bank of America. My loan was originally from Countrywide and was sub-prime. I followed all their directions and was denied. I qualified under all the programs and now my options are a short sale or turn over my deed but keep making payments according to them. To me it's like making opayments for the Titanic. The house is worth way below the mortgage and due to my ex-husbands neglect while we divorced is far from sellable. Bank of America was given an huge bailout and has the worse record for helping homeowners. We need to ban together and fight back so everyone who has money in Bank of American knows what a horrible bank it is. I would think they would want my $1200 a month instead of foreclosure on a house they will lose a bunch of money.

My friend has his mortgage with BofA. He has a 30 yr fixed loan, didn't buy a bigger house than he needed, he just lost about 30k a year in income. He attempted to go through BofA for a loan modification. He filled out all the necessary paperwork, and was told to make his trial payments until the loan went through. His payments were around eight hundred dollars less than before. After making his lower payments and patiently waiting for nine months he was denied the loan. Now BofA is back charging him the difference between what his payments were before and what he paid as trial payments. He now owes over seven thousand dollars in back payments. They took the dollar amount he owed and figured that he is now 4.75 months behind on his mortgage. He tried to set up a payment plan but they will not do it because his debt to income is too high. When he asked what he was supposed to do he was told unless he could pay the back payments now they would foreclose or short-sell his house. I feel this is a scam and he was never going to be approved, they just wanted him to get so far behind that he could not catch up and they could short sell his house. Mortgage companies are making a ton of money on short sells these days. There is a very informative video on youtube about how lenders and making huge profits off of short sells due to the fact that the FDIC insured the loan for the original amount, not the very discounted price the lender purchased the loan for.

http://www.youtube.com/watch?v=ssl5yb7FewA

I have been working with BOA since March 2009 for a loan modification of my mortgage, since Countrywide sold my mortage to them. I have a stack of paperwork that was faxed to them over this period that would make up 2 Honolulu directory phone book. Each time I called them they passed me to a different negotiators and stated that they don't have any papers that I faxed and to faxed them again, mind you this is the 40th time faxing over the same paperwork. In December I notice that my interest statemet was way less than my 2007, only to find out my mortgage payment was put in a misc account. They claim they do that when you are waiting for a loan modification. Can you believe this $16, 000.00 of my money is a misc. account. I immediately threaten them and told them that I was going to report them to the IRS, they were collecting the interest on my money, that same day they applied the $16, 000.00 to my account. Finally in March I spoke to Robert Procell and he said well looking over our paperwork we did qualify for the Loan Modification and that he will sent the paper to us. On April I contacted him, and stated he sent my paperwork to the automated system to approve and I should have gotten the paperwork on March 17, we I still have not received. I then asked if I would also qualify for the National Home Retention Program, and he stated yes. As of today I still have not received any paperwork, every week I call BOA and again ask me to send more paperwork to them. What kind of f*&#$^% games are they playing. Finally my husband and I complained to the CEO of BOA, he then assigned another negotiator, which then passed on to another and another. Now mind you I have being doing this for over a year. Well we are now with another negotiator who is asking us for more paperwork and a monthly expense, she states list everything down, even if you purchase a stick of gum. Well I listed my cigaretts as park of entainment, she then states President Obama won't approve the cigaretts, I asked her if she spoke to him...haha. Why don't you ask him, since he is a smoker. One week later she calls and states that Making Home Affordable program would put us in paying $3900.00 a month, $1300.00 more than what I am paying. I laugh and told her for that kind of money I could live in a mansion on Hawaii's beaches. Ask them for your original deed and closing documents, they don't have it. The federal govement should shut BOA down, they are ripping everyone off, very poor customer service, rude, talk down to you. Just watch the news on the bad things that BOA is doing to everyone. Write to you congressman, the senators and even Obama if you have too, I will...Check out piggybankblog.com

I contacted Bank of America who has my house financed after I lost my son and husband,
of 42 years, in 2008. I don't have the income that I once had and wanted to enter the
modification program. What a joke. I have been in this program since July 2009 and
I am paying more than I ever had to try and stay in my home. I have did everything
that I am suppose to and still I haven't heard from BAC RATHER I get to keep my home
or not. They keep telling me every time I call that the final paperwork is in the mail.
Every time you call you talk to someone else that doesn't seem to know anything. I have
kept a log of all the calls that I have made and it looks like a book. All I want to do is
keep my home and pay the note according to what I make. They said that this modification
program was to help people with hardship and I just don't see it. I am paying $1400 a month which is more than when my husband was alive. When you have lost someone that you
have counted on and love so much its hard to try and want to do the things that end up
being important decision later on. If someone else has summited the paperwork and is
still waiting to hear from BAC like I am can you tell me if at the end it was worth it or how long did it actually take. Gayle

Our mortgage was transferred to Bank Of America, shortly after we entered their loan modification program it has now been a year and a half. We have complied with all the requirements several times I might add. For a year and a half we have gotten no results we hit a brick wall almost every time we called.With only one income in our household for a greater part of being in the program.Two weeks ago I called for status update on our latest submittal in late April they told me it was in the hands of the underwriter and to call back in a week or two to get an update.
Just yesterday I called and got three reasons why we were no longer in the program anymore 1. I declined the reduced rate that we have been waiting a year and half for ? 2. We were 20.00 dollars short on our last payment which automatically takes you out of the program even the customer service agent was baffled by the reason after he read it off his monitor. 3. We opted out of the program I asked when( no reply...I asked by whom (no reply just that there information couldn't be wrong?. Then I am put through to Hailey in the retention department who assures me that if I just resubmit all of our information we would be put in back into the program I asked how long would the process take another year! After getting ripped off for by a loan modification company for2, 500.oo dollars prior entering the Bank of America. We trusted bank of America although my wife had second thoughts I told her after all its Bank of America they have a good reputation and have been around for a while. What will happen to our home now? Thanks to all you companies who walk your talk (right)

In February of 2010 I missed two payments with Bank of America on my mortgage. In April BOA sent me a letter requesting that I chose from the options they provided two help with my situation. I actually selected two options and put my house on the market and try to do a modification on my loan. BOA sent me the necessary paperwork to do fill out for the modification, I set the first group of papers back in May. then in May they requested more info which I returned by June 23, 2010. On July 12 I received a letter from an attorney in Addison, Texas that they had been hired by BOA to put my home on the Auction August 3rd and I would be foreclosed on. At first I thought there was just an error made at BOA and I could make the necessary phone calls to correct it. For the next 3 weeks I would spend approx. 25 hours on the phone with BOA and try to solve it. Many agents would tell me I was still in modification and they would request a urgent stop on the foreclosure. Others would tell me that they did not get the paperwork from me that was Fed-Ex to them and they were foreclosing on me, they would finally find it and then they would try to request a stop. Quite a few had no idea how I ended up in the foreclosure dept. After all said and done no one could help me, I did everything that BOA asked me to do, my modification was never even completed. I lost my home on August 3, after being divorced three years and making payments by myself that totaled over 100, 000. I was going through my 401 and knew I had to make a change. I thought the gov't used our tax dollars to pay the banks to help us out, what a joke. BOA just took the money and they are not helping and doing what they were suppose to do. By the way I am still in modification, I received another letter the other day asking for more information. Someone at the bank told me "BOA had the right to do a foreclosure during a modification if they chose to" so what's the point. If I had known my house was going to go to Auction maybe I would of chosen to pay my mortgage, but I was not given that option. You know what's really sad I know in my heart I did everything that BOA asked and they broke a federal law but there is nothing I can do about it because BOA is to Big. The gov't doesn't care they just get away with it. I feel cheated and lost... Kathy from Texas

I was sent a Mortgage Loan Modification in June. I returned the documents with a cashiers check for the amount noted as my new monthly payment, for the entire term of the loan. No where on any of the pages did it state trial period, temporary payment etc...
My next scheduled payment is due Sept. 1. The payment is $90 more a month than specified on the Modification. They are also now requesting an additional $1, 052 before that date, to keep my payment at the new higher amount. When I called BOA I was told that this was a trial period of 3 months, not for the entire length of the loan. They added to my principle all the past due interest, escrow and an additional $1, 400 for other fees and charges...
I really believe their accounting department needs an overhaul. You can call the same number 3 times to talk to someone different each time and get 3 completely different answers each time you call. I have been trying to deal with these Bank for almost 2 years. Too bad all the money given to these banks weren't given to the American people. We could have paid off our mortgages and we would then have money to spend ...here in America.
I will NEVER deal with Bank of America again by choice. Ever. And I would advise anyone who has a choice in the matter, stay away from BOA. They will charge you for everything they can, legitimate or not.

Those words Bank of America and Loan Modification and Helping their Customers do not go together in any sentence at all ! Forbearance does not help anyone ... They need to MODIFY THE LOANS ... THAT IS WHAT THEY ARE SUPPOSED TO BE DOING..Everyone is better off to just walk away or do a short sale and leave them holding these mortgages. What is the difference is having a buyer for a short sale (which gets market value) as opposed to someone walking away and the banks getting ZERO ZIP ! They need to take any and all short sale proposals esp when they ARE NOT HELPING THE PEOPLE KEEP THEIR HOUSES

I have a story that is unbelievable, but true. I filled out the paper work in December of 2009 for a mod. In about 3 weeks (the middle of Jan) I get the paperwork for the modification, it was approved. I took the paperwork to my local notary and sent it back to Bofa. My first payment wasn’t due until the 1st of February. I sent certified funds for the 1st payment. I called Bofa and they said once the payment is posted the automated system will update . The middle of February, I get a loan mod denial letter. I call Bofa, they assure me the system is just slow, I had been approved, and the system will be update. So on the 24th of February, I get a letter stating that my modification was sent out in error. I have an FHA loan and the mod was for a conventional loan. I tried 3 more times for a mod and NOTHING, nadda. My house was sold, they evicted me 2 months later and NOW I am looking for legal council to help me. This was Bofa’s mistake not mine.

My point to this comment is be very, very aware and careful. Even if you do by the grace of GOD do get them to give you a modification, they still can pull the rug out from under your feet.

I did file a complaint with the OCC, and actually got a call from a lady named Christie. Christie told me that she would investigate and get back with me. Well a month or so went by and they offered me a modification. I just sit there on the other end of the phone in disbelief. I told Christie, you all SOLD my house, and then EVICTED me . I had to get some where to live. So your telling me you cant help me, NOW that I have another home to live in. What was I suppose to do ... me and my kids sleep in a box until you felt the need to help? Needless to say I have file a part 2 complaint with the OCC and I am sure I will get some [censored] session once again. I will keep you posted.

wow Shawnnva a total horror story for sure... I have had my paperwork in for a remod since 08... yes 08!
and i have had to redo it hmmmmm 4 times ...yes 4 times! Why you might ask? They lost it...yes lost it!
I have no faith in Bank of America at all! And you can see why! And still i hear that my remod is sitting in the Underwriter's Dept...yes sitting in Underwriting! All this time though as much as they would want us to "default" so they can foreclose we have not ... We have kept up our payments which is probably pissing them off to no end! So now i have resolved myself to thinking Short Sale...which i have started... and i have gotten further in 45 days than in the 2 yrs of remod waiting! So Short Sale it is... I will not wait until the balloon hits and ask BofA to refinance only to be turned down as our house is totally upside down... How stupid do they think i am? They have told me in the past "Oh you have plenty of time left on your balloon note (like 2 yrs) contact back then when it gets closer! Are you kidding me ! So that you can tell me "We cant refinance a house that is no longer worth the mortgage, are you kidding me!" So BofA once i get rid of this mortgage thru short sale ... I hope never to lay eyes on you again EVER!

I wish you luck my friend. I think we are all going to need it.

B of A has gotten too big for their pants !

I started a facebook page about this. Name is Loan Modificationisajoke. I'm a victim of the 30 day rule. Never got due dates or letters stating I even have to resend info. I MADE ALL OF THE CALLS TO THEM! They kept my trial period going, telling me to make trial periods going even for 3 months even though I was declined! Now I owe them 2400.00. Lost my job, my side biz collapsed and had a child who suffered a birth injury all in three months. Still made my payments on a loan to a house thats worth 60% less then when I bought it! Where's the change? Where's the understanding? I realize that owning a home is not a right, but I've done everything in my power to keep my house. What's 2400.00 to a national bank? The CEO's electric bill for a month?

Also sent info in triplicate! Why is there 8 different phone numbers to get a hold of anyone at B o A Mod Dept?