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.
Product or Service Mentioned: Bank Of America Loan Modification.