May 27, 2011
Barbara ext. 2907
Bank of America
Called to get information why I do not qualify for the HAMP loan modification
Barbara said my Loan Modification was declined
I asked Why? What specific reason or reasons?
Barbara said I should receive a letter that will tell me the reasons.
I told Barbara I received a letter this morning and it did not give a specific reason or reasons.
She said "if you would look at the bottom of the letter it says they were unable to create an affordable payment equal to 31% of my income"
I asked what figures were used by the underwriter for my income
She said "it says you have zero income"
I asked her why would it say I have no income?
She asked if I provided all the documents showing my income. I told her I submitted bank statements, tax returns, profit & loss statements. I submitted all the documents that were required.
I asked her to check in my files to see if she can see any documents relating to income, reluctantly she looks.
Barbara said she can see in my files the 2 profit and loss statements, my bank statements and tax returns.
I said ok, now you just asked if I submitted those documents and you can see them in my files, why would the underwriter say I have no income?
I told her this does not make sense.
Product or Service Mentioned: Bank Of America Loan Modification.