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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 january (after calling over and over) that told me that they did receive the paper work from Sept but it needed to be update. I told them I received a default notice so again did what I was suppose to. Last week I found out sale date of my home is Mar 29th!!! They told "it's ok sometimes we can stop sale of home 48hr prior" I have become so sick of worrying and waiting.

An attorney recommended that I file chapter 13 B of A said no i should be fine I dont know what to do!!!!!!!!!!!!!!!!!!!!!! Any suggestions out there!!! Should I trust them?

I feel that they want me to lose my home I have the income and all but their seem to be dragging their feet and time it ticking very loud. I pray I dont drop dead!!!!!!!!!!!!!!!!!

Product or Service Mentioned: Bank Of America Loan Modification.

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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.


When you push them they put you on a modification program called Trial Period for 3 or 4 months making you think that they are working something out for you, Don't fall for it they will never modify your home what they are doing is taking your money and letting you stay in the home until they get the forclosure paper work going once that is completed they will kick you out. don't pay for Traial Period is a scam of Bank of America.


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. Buyer Beware of Bank of America.


Letters to mortgagor are automatically generated. It is true FC sale can be held by servicer contacting lawyers to stop process within 48 hours, even in less time.

There will be legal cost and fees you will have to pay upfront once you get your modification.

Get all your updated financial paperwork in. Tighten up the budget to qualify for a modification or repayment plan.


Loan modification is a long process, Its funny how when the real estate was up and people were happy with their property value, there were no calls to the bank. Now people expect to get a loan modification in a short time with 14 million other people requesting the same thing.

It takes time people to go thru guidelines our own govt has set, to deal with going thru paperwork and trying to find the right option. Stop complaining! you are living in your house without paying your mortgage for how long? People think they are entitled to a loan modification...guess what...

you are not. If you meet ALL guidelines and you can support one then you will. If you don't then yes your home will get a sale date. In the meantime, be grateful you are even being given the opportunity to have your loan reviewed for a modification, and be nice to the reps you talk to on the other end of the phone, they are trying to handle the 20million calls everyday..sorry if you have to wait 30m to speak to someone.

obviously you are in foreclosure if you have a sale date on your property, so save your money while you wait for a decision, sale dates do get postponed if more time is needed for review, but since a modification is NOT a ready to reinstate your loan if you don't qualify. Oh, and of course your attorney wants you to file bankruptcy, how much is he charging you for it? be patient. The bank hasn't received payment from you so don't feel entitled to anything.

They don't owe you.

Countrywide made a mess of things and Bank of America is trying to clean it up..but its going to take alot of time. If you want to be angry, be angry at Countrywide.


Pay your Bill or walk away to a better investment but the most important thing is Read the CONTRACT u Sign;)


First of all, seems you had an ARM. Don't say you had a fixed rate for 5 years...cause you didn't.

You had an ARM.

you knew the rate could change.

Second, if you have the income, pay your mortgage. That shouldn't stop you from trying to get a modification, but in the mean time, you won't get foreclosed, credit score trashed, blah blah.


If you have a case number for the foreclosure sale consult with an attorney but instead of paying BOA direclty for your monthly payments look into making your monthly payments into the court registry. That way the attorney handling the foreclosure sale will be on notice.

Also notify the foreclosure attorney of your modification requests and the status. Perhaps the attorney will be able to postpone the sale date based on 'settlement discussions' between you and the lender.


Here lies the problem......Capitalism!!! It's not just BOA, it's the majority of Banks.

I faced the same problem with Everhome Mortgage. I paid my mortgage on time, sometimes even early for 8 didn't help when it came to the incompetent people working for these banks.

If you get a chance watch Michael Moore's Capitalism, A Love Story. It will shed some light on what the majority of Americans are facing right now.


Yeah good luck. i've been at it a modifcation for nearly a year since BofA signed their participation agreement for this government program.

Its amazing how incompetent their staff really are when discussing the terms of their program. pay your mortgage until you have a signed contract and do not trust any verbal communication.

if you can't then sell off as much of the house you can, liquidate (thats waht BofA does on their properties when they can pay) and live in it rent free as long as possible. screw the next guy mentality in full force


Do not trust them...they do not care if you lose your home because if they did they would have modified your loan. I have been trying to get my loan modified for 8 months now and no luck!


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

Please contact me as soon as you can at . 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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