I was approved for the making homes affordable program in January 2009 ands told if I made all of my trial payments on time, in an estimated 3-6 months i would receive a package of paperwork to permanently remodify my loan's interest rate making these my new payment for the duration of the loan

After 3 months of consistent on time payments and no paper work, long days on the phone with every dept. Bank of America has. I was shuffled around and told my paperwork to make my modification permanent was sent out or that i would be receiving it shortly. I never did. Same story after 6 months.

On Aug 1st 2010 i called to make my payment and it was refused. i was told then that my property was in foreclosure. I never received a letter of notice informing me my home was going to foreclosure. i wouldn't have known it was going to auction. They then told me i was not in the making homes affordable program and that house was in foreclosure and would go to auction August 9th, 2010.

On Thursday, Aug 5th I was then told the investor on my loan had denied my approval due to my debt to income ratio. My only option was to reinstate my loan by coming up with 25k before my auction date (which was 4 days away) or file for bankruptcy.

The only hits on my credit are from B of A. So on top of the super speedy foreclosure, my house is gone and my credit is destroyed unjustly!

I honored my end of the deal. I was told, well… it wasn't guaranteed. Where is the justice here?

~ p.o'd in AZ

Product or Service Mentioned: Bank Of America Loan Modification.

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Brad you really need ALOT more information of whats going on in this country. It is time for the consumer to fight back. Never judge anyone till you walk in their shoes.


BOA MOD IAM in the same boat i started this in jan 10 2010 same lost papers resend them .same story its in review boa is realy bad obout this...i need help


My wife was laid off recently and has two jobs trying to make the income she and I together were making before the drop. We purchased our home as a foreclosure for 80k less than what it was worth in 2007.

We thought we had made money. Well that is not the case. We now have been approved in 2009 by BOA for the making home loans affordable program. We applied because our house is now more than 100k less than what we bought it for.

Not what it was worth in 2007, so in all it dropped 180K. We can not sell it as we are now upside down in it. We have cut a number of costs to make diligent monthly payments but its getting a bit tougher and closer to debt every month. So we were approved in 2009 and today we called BOA to find out where our offer from the underwriter is as they are two weeks past the date we should have received it.

Guess what..... They do not have any of our paperwork nor is there any account on their computers that we ever filled out paperwork. We have called them every Monday for the past 6 months and have had 25 different people tell us that we need to be patient and wait for the paperwork to come in the mail. 90 days, 60 days, 45 days.

Every time it is a different amount.

Now we have nothing in regards to info and they want us to start all over. So what do we do?


Brad, These mods were originially supposed to correct the market from the over appraisal of homes in the past ten years. It's not the consumers fault if prices were illeaglly inflated and it's time to let homeowners start paying for what their houses are really worth.

Real estate was always supposed to appreciate in value or at least retain value. This is a man made problem by crooked bankers, appraisers and brokers. These mods aren't for low income families either, in fact if you don;t have a source of income, you probably won't be approved. The mods are for anyone whose paying to much for there median priced home.

The blame doesn't lie in the average Joe. It lies in the men who tamper with the market for selfish reasons.


These banks are being greedy and stubborn. Instead of lowering the interest rates for the homeowners (which would make monthly payments affordable) and keep you in the house, they rather have it short sale or foreclosed and get less from someone else than letting you stay there.

That's all this is, a game for the banks and their investors.

The same way they gamed us into getting in the house, is the same way they are gaming us into getting out. All the while they are posting billions of dollars in profit every quarter, where is that profit coming from if people are not paying mortgages and other fees?

I too am going through the process with b of a for a loan mod. They have lost our paperwork 2 times and just not entered info 3 times.

You get the run around everytime you call and excuses about how busy they are. Busy doing what !?!? We all need to get together and file a class action suit so they cannot continue to abuse their customers this way.
Brad...you have no idea what has happened to this family and should keep your negative comments to yourself.

I have always paid my bills...and I am a republican !! :( :( :( :(

Yep, another *** who thinks there is really such thing as a "making homes affordable" program. LOL!

Probably voted for Obama thinking he would hand out free homes. What ever made you think that you could somehow "qualify" to permanantly pay less monthly for your home. What sense does that make? Do you think your neighborhood gas station might just charge you 50 cents less per gallon for the rest of your life?

What crazy world do you live in? Quit blaming your problems on B of A and admit to yourself that you're a big, possibly fat, loser who can't pay for the things you buy.

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