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Bank of America Making Homes Affordable-what a scam

My husband lost his income last year and we called Bank of America to discuss what our options might be to save our home. After several phone calls, and every person telling us something different ie. "don't make a payment yet", so you show hardship etc. and then "why didn't you make a payment"...all of a sudden a fed ex packet shows up in the mail. The fed ex has a temporary agreement in it for six months of lower payments until they can get us qualified for a modification. We signed the agreement, sent in our payments, every month and on time. During the six months I would call in at least twice a month to check on the status of our modification, as well as to ask them if they needed any documentation from me. I never got a response besides "we show that it is in the process of modification". I call again, now in a panic because the six months is up, and no one has contacted me. I ask every time if they are going to make me pay the difference back or foreclose on my home at the last minute...and they say "no, we are just really backed up at this time and your modification is still in the works". Well guess what 7 months go by, and I call again to ask what I am supposed to do and what I am supposed to pay, they say pay what you have been paying on your agreement....I call Monday to ask why they havent cashed my payments for the last two months and the agent says, it looks as though they lost your paperwork, let me re input your numbers, ten minutes later, she says I am denied and that I will have to take a second loan out for the difference of what I havent been paying. Today I get a notice to foreclose in 16 days. This is a joke and a disservice to the people who are truly in need of help. I will be contacting our Senator to discuss.Now my family of 4 will be homeless in 16 days because they dont know what they are doing, and they lost my paperwork.
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9 comments
Anonymous
#416410

all bank modifications are scams, including the government ones :(

Anonymous
#212252

Same story, different names. B of A is a scam artist.

Anonymous
#200055

We too are going through this so called modified loan. We have made all of our modified payments on time.

We call at least twice a month to get an update. Each time we call we get a different person with different information.

Just called again and guess what she tells us it's still pending. They have no other information to tell us.

Anonymous
#189942

I'm playing the game. I refuse to go into default.

I will keep my mortgage current and join all class action suits against BOFA. This is a criminal. I've been trying to get a Mod since May. BOFA is stalling.

I'm so overdue for a answer. I will continue to call daily pleading for a update.

They are taking billions in bailout $ and *** the people the people meant to be helped. Obama failed.

Anonymous
#177690

I also did the loan mod with BOA. it is the biggest rip off.

I made the trial payments for 9 mo. It was approved and my payments were $150 more than the trial. The mod payments were only $200 less then my original payments. It will ruin your credit.

I was never late on my payments or my trial payments. They show my credit as 8 times over 90 days. I have argued and argued with BOA about this with no results. I was told I made a payment in June and it was not posted till September.

I wish I had never dealt with the mod. I have told them that over and over but once you make the trial payments if you dont sign the final mod you have to come up with the difference.

Now if I had that kind of money I would have never asked for the mod to start with. Wish I knew some way to stop this

Anonymous
#177430

BOOM!!!!!!!!!!!!!!!!

Anonymous
#130358

Yes I am going through this scam now. I made my final trial payment due April 1, 2010 last week, and now they are sending default letters and asking me to pay more than was agreed upon.

They are now telling me to wait another 6 months for a decision. What are they going to see in 6 months that they can't see today. Oh, I know. "Your debt ratio is too high for a modification." I could have walked away last year when I lost my job, but believing the modification scam was legitimate I sunk another 10K into my home leveraging my then perfect credit.

My house is worth half of what I paid as the neighborhood is littered with foreclosures. Had they modified my loan as promised I would be able to keep my home and pay off all of my creditors.

I am now considering talking to an attorney before I make my next payment. Bank of America is well aware of their unethical behavior and they are dragging this process out to bleed the home owner and tax payer until it makes sense to short sale the property or foreclose.

Anonymous
#128430

Try doing a short sale with this mixed up mess of a company. The new "equator" system that was to resolve the problems is the worst piece of s....

to hit the planet. They are confused on how to use the system and don't call for documents that cannot be uploaded without a request, and then say they haven't received them!

Please Uncle Sam, put this company out of it's misery.

Anonymous
#127024

This is so scary. I am going through the exact same thing with Bank of America!

I have been paying the modified payment, due to a layoff in October.

I continue to call, and BOA tells me the same thing..Keep making the modified payment until they "catch up" on their loan modifications. At this point my credit report shows a 30-60 day delinquency even though I've made all of my modified payments on time!!

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Review
#175926 Review #175926 is a subjective opinion of poster.

Bank of America jacks up rates

Bank of America just jacked up their rates in the middle of a billing cycle. When they did so they also made the interest increase retroactive to past purchase we were still paying off. Not sure this is even legal. Since when purchased made they made with an agreed upon interest rate and now they have almost doubled that. Plus to be honest, their in bank customer service is the worst. Not the fault of the tellers, there just aren't ever enough employees around to do the job. 20 minutes in line to get a bank draft is ridiculous
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Review
#175912 Review #175912 is a subjective opinion of poster.

Bank of America (same story-making homes affordable)

I have the same sstory as everyone else trying to get a modification with making homes affordable and bank of america. bank said I qualified and gave me 3 temporary payments to make, after 3 payments wree made and a month had passed, I never recieved anything, I called and was told they were giving me 3 more temp. payments because I failed to send documents needed "this was not true" they recieved all documents they were asking for again, after those 3 payments, still no word, I called again and was told to make 1 more temp payment, after that no word, I called again and was told to continue making temp payments until I heard from them "with no paper work stating that" I am continuing to do this. But starting to feel I should just save my money for the move when the throw us out. By the way forclosure had never started through the courts until I starting complying with this program"which was suppose to put forclosure on hold" HELP! what now?
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5 comments
Anonymous
#197298

I am applied for the same thing. Was told just keep making your trial payment until you hear otherwise.

Now I get a defelt letter that I need to come up with 8000.00 by Nov 4th. I don't get it did what they asked . Call them and they give me the run around. Told me the money I have been paying was not put to my payment.

It was like interest only. Have been charing me late charges on top of that. Not once did they tell me that. Now the said I should do a short home sale or come up with the money.

Are you joking this is my home. I need some help with this.

Any help out there? :cry

Anonymous
#130362

Heather,

They lost my documents 3 times and finally set up the trial 3 month payments. I made the final payment and they told me that it would take another 6 months to get a decision on a permanent modification.

Today I received mortgage default letters and when I called they were not concerned with my modification, but whether or no I waned to make a payment. On the same call I was told they are missing documents. The same document I sent to them twice. Why wasn't I told this last week, or last month?

I am talking to an attorney tomorrow.

They are not getting my home that easy. Buyer beware of Bank of America, and the obama Administration who is offering nothing but empty promises.

Anonymous
#130359

Yes I am going through this scam now. I made my final trial payment due April 1, 2010 last week, and now they are sending default letters and asking me to pay more than was agreed upon.

They are now telling me to wait another 6 months for a decision. What are they going to see in 6 months that they can't see today. Oh, I know. "Your debt ratio is too high for a modification." I could have walked away last year when I lost my job, but believing the modification scam was legitimate I sunk another 10K into my home leveraging my then perfect credit.

My house is worth half of what I paid as the neighborhood is littered with foreclosures. Had they modified my loan as promised I would be able to keep my home and pay off all of my creditors.

I am now considering talking to an attorney before I make my next payment. Bank of America is well aware of their unethical behavior and they are dragging this process out to bleed the home owner and tax payer until it makes sense to short sale the property or foreclose.

Anonymous
#126492

These Government backed Investors Will not modify a loan that is not in their best interest$$, some people i hear are trying to get help with their income to payment ratio is over 80%!

Anonymous
#125970

I am in the same boat. I applied last year and was told that I fit the criteria but since then I have sent 3 sets of the same documents and have been told to call back in 90 days since may of 2009.

I struggle every month to pay my mortgage and I haven't even been given temp.

payments like others have. I contacted Senator Nelsons office about it so hopefully the ball will get rolling now.

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Review
#175653 Review #175653 is a subjective opinion of poster.

Bank Of America fee Scam

Anyone that has a checking account with Bank of America watch your account closely for fees that shouldn't be. The advantage checking account fees are supposed to be waived if you carry over a certain balance. My mortgage balance alone covered that, however BOA changed my mortgage loan number then started charging me fees. Even after bringing it to there attention, they have the new loan number linked to my checking account so it won't happen again, but hey why aren't they crediting my account for there past mistakes to the tune of $20.00? My guess is that everyone got a new loan number at the start of the year & when you got thousands of customers falling under balance and getting hit with $20 fees, its a big chunk in their pocket
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#175584 Review #175584 is a subjective opinion of poster.

Bank Of America in Colts Neck, New Jersey - Over Draft Fees

My Wife was brutally Murdered this summer a Drug addicted Neighbor Attacked her with a Knife and stole a TV . Since I have done BAd I am on Unemployment this month Bank of america took both my Unemolyment checks Overdraft fees I know are not there fault but how they sleep is my big concern taking this for cups of Coffee in between Cemetery visits,, all I have left she was only 49.. They've shown little very Little compashion and get Highly upset when I comented on the Company making Money Off my mistake to Buy Coffee to warm up between DAILY Cemetery visits.. Prior to this had a Excellent Banking History... I Hope they Never go threw what I'm Going threw Both Loss of wife and the Financial Struggle they have added to my burden I would much rather me be turned down at the register then Go ahead give me my Coffee and charge me $35.00 for it... Eric Christensen ....
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1 comment
fabio1979
#263163

It is the legalized robbery of those who are not strong enough to fight them. They will burn in *** for what they do. I hope things get better for you.

Review
#175073 Review #175073 is a subjective opinion of poster.

Bank Of America in Kalamazoo, Michigan - House Sold right from under my feet

How would you like to come home from a vacation and discover you have nothing not even a bed to sleep in or roof over your head. This realtor did this. What do you do about something of this crime,??? How does the agent sleep at night knowing these documents were signed by someone who DID NOT own the property. I'm positive those in authority in the State of Michigan have turned a blind eye on this matter including the State Police who you would think they would be there to protect someones rights. Any feedback to this post would be appreciated.
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2 comments
Anonymous
#125583

Must of been one long vacation. I wish I could look, buy and close on a property that quick.

Maybe your "vacation" was part of the eviction notice you got from not paying your mortgage. :?

Anonymous
#124840

You seem to think you were defrauded by a realtor? near as I can tell from your ramble. But you blame the bank?

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#174989 Review #174989 is a subjective opinion of poster.
I have had my mortgage for 5 yrs now. Countrywide was takin over by BofA (bank of ameroca) I had a fixed rate until Last year so I have submitted for a home modification loan twice!! Once in September and now in January they told me both time it takes 30-145 days In...
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12 comments
Anonymous
#383191

I also had a Countrywide loan that was a high varible rate, I lost my job and have eye problems, I'm 64 and reached out to Social Security. I have also applied for disability as my eyes are failing.

BOA has done nothing but give me the run around, they do not care about us they just want my house. If they would just reduce my interest rate to a current rate we could make it. I blame Obama for doing anything to get the Banks to get the housing market under control.

It is the backbone of the USA and has been this way forever. Obama is suppose to be a leader, he does nothing accept give money away to the banks and we get no help in return.

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#173718 Review #173718 is a subjective opinion of poster.

Bank of america

just finised 6 months workout plan B.O.A. said they would make our payments the same.that didnt happen.we sent our last 6 month payment&we were still in the workout plan& B.O.A.RASIED OUR PAYMENTS ANYWAY.we are fighting to save our home.still waiting to hear from b.o.a.im sure there are other people in this situation.i do have a job.but it doesnt pay as much as my old one.they were happy to do this at first,but now they want all the back balance.this is a scam.we are waiting on the next move from them.
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2 comments
Anonymous
#122046

I understand what you're going thru. I have been dealing with BofA for 8 months now trying to get my home loan modified and I haven't gotten any further than square one.

No one will give me a straight answer about what is going on. Someone needs to make these big banking instutitions accountable for what they are doing to consumers.

Anonymous
#121813

Endless Fraud Detection is who you call. Our website is endlessfrauddetection.com We can help but you must act quickly.

Please contact me as soon as you can at steve@endlessfrauddetection.com I need to send you some information about what we can do for you. A forensic mortgage audit will uncover violations of consumer protection laws i.e. TILA, RESPA, HOEPA, breach of fiduciary duty, breach of implied covenant of good faith and many more. One rescindable violation will force them to divest themselves of any security interest, and return all of your money.

They cannot promise you will get your house for free, but there is a very good chance you will depending on the equity in the home, and the amount of the violations found in the audit. We can also provide you with all of the legal paperwork you will need to take to a lawyer of your choice.

Please call as soon as you get this message, and ask for Steve, and I will be glad to discuss your options, and the details of what we can do for you. The clock is ticking, so please do not waste any time that you cannot afford.

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Review
#173591 Review #173591 is a subjective opinion of poster.
Loss
$115

Bank of America excessive overdraft fees

I had fraud on my debit card account in Nov 2009, and reported it to BOA. They cancelled my debit card and issued me a new one, which up til Mar 1st 2010, I had not received. Yet they charge me $8.95 monthly for this account. Account went into overdraft and they charged $35 every three days until the account was put back into "black". Mind you, it was the fraud that sent it into overdraft in the first place. They "reverse" the fraudulent charges, and the overdraft fees, done by two separate departments. Never got the affidavit to sign to confirm the fraud charges, so charges "re-reversed" sending my account into overdraft and $35 x 2 AGAIN. Fraud Dept called me initially concerning my claim, but could not call me back to see why I had not sent the affidavit in yet, so they "re-reversed" the charges. I then faxed them the affidavit, and of course, it takes another 24-48 hours to reverse this mess, which by the that 3days, I have yet another $35.00 charge on the account. So long story short, it you ever go over your limit by $0.01, you WILL PAY $35.00 for your mistake every three days until its rectified. This includes any fraudulent charges posted to your account. So three months later, I had enough of the wait for my new debit card, I paid $9.00 into the account to cover the monthly fee, and closed it. Oh and did I mention that they sent 100 of my personal cheques and my new debit card to an address I moved from SIX YEARS AGO, even though I had this address "removed" from my account. AND I had to make a claim from one of their automatic counting ATM's in Hialeah, which counted $401.00 and told me it only received $60. from me? And get this, the BOA ATM outside the Branch is now owned by that Branch, but rather some other separate entity within the corp. in Wisconsin or wherever. So FREAK U BOA, I'll keep my money in my mattress from now on, next to my gun!!! Put your money in a credit union.....
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2 comments
Anonymous
#122981

I agree with you these overdraft fees. I have been charged overdraft fees from things that went through on my account that I did not even approve, and things that I have no idea what they are. I saw that starting in june or july that they will no longer be charging overdraft fees.

Anonymous
#122828

This BOFA obviously scam and fraud..I wish that $35 overdraft charges help with the 5.2 billion they lost. With this bad economy we are facing right now, they are trying to steal our money by means of overdraft fees.

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#173524 Review #173524 is a subjective opinion of poster.

Bank of America excessive overdraft fees

I had fraud on my debit card account in Nov 2009, and reported it to BOA. They cancelled my debit card and issued me a new one, which up til Mar 1st 2010, I had not received. Yet they charge me $8.95 monthly for this account. Account went into overdraft and they charged $35 every three days until the account was put back into "black". Mind you, it was the fraud that sent it into overdraft in the first place. They "reverse" the fraudulent charges, and the overdraft fees, done by two separate departments. Never got the affidavit to sign to confirm the fraud charges, so charges "re-reversed" sending my account into overdraft and $35 x 2 AGAIN. Fraud Dept called me initially concerning my claim, but could not call me back to see why I had not sent the affidavit in yet, so they "re-reversed" the charges. I then faxed them the affidavit, and of course, it takes another 24-48 hours to reverse this mess, which by the that 3days, I have yet another $35.00 charge on the account. So long story short, it you ever go over your limit by $0.01, you WILL PAY $35.00 for your mistake every three days until its rectified. This includes any fraudulent charges posted to your account. So three months later, I had enough of the wait for my new debit card, I paid $9.00 into the account to cover the monthly fee, and closed it. Oh and did I mention that they sent 100 of my personal cheques and my new debit card to an address I moved from SIX YEARS AGO, even though I had this address "removed" from my account. AND I had to make a claim from one of their automatic counting ATM's in Hialeah, which counted $401.00 and told me it only received $60. from me? And get this, the BOA ATM outside the Branch is now owned by that Branch, but rather some other separate entity within the corp. in Wisconsin or wherever. So FREAK U BOA, I'll keep my money in my mattress from now on, next to my gun!!! Put your money in a credit union.....
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#173523 Review #173523 is a subjective opinion of poster.