Bank of America - BOA Loan Modification Program

Sep 09, 2010
review #197665

I was told back in November of 2009, that I qualified for Home Load Modification Program. So I had entered the program, since I was having a hardship. My hardship to BOA was that my my wife was involved in a major automobile accident and was not able to go to work for the last 2.5 years and still to this day can not find work due to the economy, and that one of my children was Autistic and I could not give my child the service she needed due yo money issues and I was having a hrad time managing on one salary.

Well I got my letter from BOA, indicating that I was accepted into the program and my first loan modification payment was due in January. Also I was told that I need to stay current with the new loan modification payment or I would be dropped from the program. Also, BOA told me that there are no fee's of any kind, while in the program. So in January, I made my first of 4 trail payment, by phoning in my payments each month as indicated by BOA. I sent in what ever documentation they requested, which was constant, since they had either loss, misplaced or said they never received documentation from me. I was always on top of BOA and made sure they got what documentation they needed. Now, I did see BOA start charging me late fees while in the loan modification program, in which they turn those fee's around, where I was not charged.

Anyway, in August, I got a letter from FedEx, telling me that I was denied because I was current with my loan modification payments. WELL IN JANUARY I WAS TOLD IF I WAS NOT CURRENT WITH MY LOAN MODIFICATION PAYMENTS, I WOULD BE DROPPED FROM THE PROGRAM, BUT IN AUGUST I AM BEING DROPPED FROM THE PROGRAM BECAUSE I AM CURRENT WITH MY LOAN MODIFICATION PAYMENTS. WHAT A MUCH OF HYPOCRITES.

I called BOA up and was told that I now owed them the difference from my loan modification and what my mortgage payment was for the last 8 moths, plus late fees, for a total of $150. I asked BOA if I could put this in the rear, put it on mt credit card and BOA told me NO. They wanted the money in my checking account and would not take payment any other way for the last 8 months plus late fees. I was never told that I would have to pay the difference between my loan mod and my mortgage and late fees, if I was denied. What a bunch of garbage. BOA told me to tap in to my 401K plan, sell my cars, borrow $$$$ from friend or relatives, sell my furniture, what ever it take to pay back the money I owe for the last 8 months. BOA said if I didn't come up with the money they would put me into foreclosure. Well I managed to scrap up the money some how, digging into food money and other things, but I still owe them the late fees. Also, I had spoken to several people at BOA about the above and got no place. When I asked for the BOA C/S person's name , they would only give there 1st name, no last name or extension. When I asked to speak to a manager, they refused to let me talk to a manager. Every person I spoke to at BOA gave me a different reason why I was denied, no one was on the same page, all different stories. BOA worker are incompetent.

Now that I am paying my regular mortgage and not in the loan modification program anymore. My salary every month goes to the bills only, with no food, gas, car repairs, clothing and etc.... Its only a matter of time before I fall on my face and loose my house, thanks to BOA.

SHAM SHAM ON BANK OF AMERICA.

THE US GOVERMENT HELPED THEM OUT, BUT BANK OF AMERICA SCREWS THE LITTLE GUY OVER.

BANK OF AMERICA JUST WENT ALONG WITH THE GOVERMENT ON THIS PROGRAM AND HAD NO INTENTIONS OF HELPING PEOPLE OUT.

PEOPLE WHO WORK FOR BANK OF AMERICA ARE INCOMPETENT

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Anon

Sep 20, 2010

You people *** and point fingers.. just because someone is stating fact does not mean he works for the institution, or the devil as the last ignorant poster stated. If you don't like banking with BofA, leave! Yeah, sure, I've had my problems with BofA myself, but I handled my *** and moved on to another institution that I'm happier with.

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Hmmmm...

Sep 20, 2010

Brian, I am responsible (AND PAID ) for the Refinance that BOA DOES NOT WISH TO HONOR. If you work with this bank, then put me in touch with SOMEONE that has dignity and will honor the refinance that I have paid for, have notarized by all parties, etc. BOA chose to intimidate me with INCESSANT robotic phone calls asking for an amount THEY WERE NOT ENTITLED TO RECEIVE AT ALL.LIARS!

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Isabel S

Sep 18, 2010

Let me guess Brian, you work for the Devil (Bank of America)? You are probably one of the incompetant idiots I have spoken to over and over and have gotten 200 different answers from too. Bank of America or Bend Over America as it is often called, is screwing people over. I have never dealt with such a deceitful company in my life!!! They need to be exterminated. BofA has made my life a living ***. You are right Buffy, no one predicted that the economy and housing market was going to crash the way it did and many people lost their jobs, get paid less or just cannot afford the payments because inflation is still a factor regardless. I have pleaded for help and no compassion is offered even when they know I have a disabled little boy. Brian, you better hope you keep your job with the Devil's Bank because you will be wanting a handout too especially if they go under which I believe they will with all the fraud that is going on with that disgraceful company. How can anyone that works with that financial institution actually sleep at night? Karma, Karma, Karma!

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Buffy

Sep 17, 2010

Wow, Brian you must work for BOA. If you can't qualify after the loss of 1/2 your income, then why even try. Im guessing you haven't had anything happen in your life that required you to ask someone for help? If you qualify to buy a house in the first place, that would mean at one time you where a responsible person, but then life eventually craps on you and one way or another things start to fall apart. How many years did the above family pay every month on time? If after 5,10 even 20 years you fall into hardship and need a helping hand, how in your eyes is that irresponsible? Grow up. DONT forget Carma is a ***.

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brian

Sep 13, 2010

If you dont qualify for the program that obama set then you do not qualify. It does not take into consideration any of your other bills, it just reduces payment to 31% of your gross monthly household income (before any taxes or deductions). Also no you can not pay a interest bearing bill with an interest bearing card. That is rolling interest into interest and is ILLEGAL. That is why you can not payments with credit cards. I am not sure what your problem is if the only difference over 8 months with late charges was $150. This is why most co have stopped doing the obama modification program and are making people be responsible for the contract they signed

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