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My husband and I have been trying for a modification loan through BOA since it became available....after all the arguing we finally then get a FedEx in the mail asking for all our personal information. I figured maybe they might actually do something now....anyway this was March of 2010 it is now July of 2010.

Every time I call they don't have a clue about what I am asking....it's simple WHAT IS THE STATUS OF MY MODIFICATION LOAN? DO WE QUALIFY? WHERE ARE MY PERSONAL DOCUMENTS? Pretty easy questions right?

Well I get from BOA... huh, wha, what do you mean?, there's nothing here on your account...oh yeah maybe, oh its in review, the underwriters have it....Please can someone tell me do UNDERWRITERS exist??

there are no phone numbers for them...I think they are ghosts. Point is this company is horrible and I would never recommend them to anyone.

Product or Service Mentioned: Bank Of America Loan Modification.

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Anonymous
#423859

I have been doing this modification business since day one. I have had to keep re-submitting.

At this point, Bank of America told me that the underwriter needs two things from me. A statement from my homeowners association and a court order saying its ok to get a modification (I have gone chapter 13). I don't live in a condo, its a single family home so I wrote a letter telling them that tere is no homeowners association. On the issue of the court order, I called my lawyer and he asked if I got a letter from B of A saying that they were giving me a modification.

I said no. My lawyer said he needed this letter to show the judge handling my chapter 13. So Bank of America wants a court order, but I can't get a court order without a letter from them first.

I don't believe they intend to give me such a letter because that would commit them. They don't want to commit to a loan modification so I guess I will continue to be jerked around...

Anonymous
#283246

It is a scam. I went through mediation and was surprised to get a trial modification with the Home Retention dept.

I completed the trial modification, but was later denied a permanent modification. I was told by my "Negotiator" that I was $600 short in income per month. I responded that 3 months ago, when I started the mod my income was right on, and my income has stayed exactly the same. He said that there were no guarantees, and that he couldn't help me.

But I could begin a "new" trial modifcation with the HAMP program, and pay a trial payment that is $340 MORE per month than my previous trial payments. So let me get this straight...I have to make MORE $ to pay LESS, but if I make LESS $ I have to pay MORE. The Home Retention program is based on your NET income, and the HAMP program is based on your GROSS income.

A third grader could figure out that this doesn't make any sense. It is a huge scam and we, the taxpayers have enabled banks like BoA to take advantage of the economic crisis THEY got us in.

Anonymous
#212886

Well I am back to give an update!! It is now November 18, 2010 and after my post above I have continued the fight.

I just recently got a phone call from a BOA rep and she asked me if I got a phone call from the woman in charge of my MOD....I said the only call I got was the other night where someone called and the call got disconnected and she never called back. The rep said in the notes the woman said I HUNG UP ON HER!!!! after all this fighting why would she assume that and why wouldn't she call back to see what happened. Anyway, now they are asking me to resubmit all my personal information AGAIN!!

I said wow you guys are really stalling. I asked her what have they been doing the whole time with my information? She then said WHAT INFORMATION!! I then argued with her for about 10 minutes until she said...OH HERE IT IS!!

but we still need to update this so you need to start all over again!!!!!

Please all you people out there stay away from BOA....why would I or anyone else want a company like this to control our money! RUN PEOPLE RUN!

Anonymous
#212280
yes yes and yes BOA is really bad i called many many times and i get the run around answer, they just dont want to modify the loan so they are making excuses regardless what i say .... i will neve do business with them again :(
Anonymous
#199635

I've been getting the same run around for over 1 1/2 years (May 2009 - Oct 2020). Over 100 documented calls with agents talking from script with no clue of your status.

Take a look at their website which actually solicits their customers with financial hardship to sign up for Making Homes Affordable program and reduce your mortgage payment up to 31% of gross income. They claim it's any easy 5 Step process that only takes up to 90 days. LIES, LIES, LIES I finally received a proposal to reduce my interest rate from 6.375% to 5.5%. Sounds better than nothing, except BAC's current refinance rate is only 4.375%.

If I'm in financial hardship and BAC wants to help as they claim, then WHY DON'T THEY OFFER ME THE CHEAPER RATE THAT EVERYONE ELSE IS GETTING? Feels to me like they want another foreclosure. They could care less about customers in financial hardship. Of course, it was okay for them to take TARP to help them out of financial trouble!

How soon they forgot... I will never do business with them again!

Anonymous
#199279

I've been working for over a year to get help and was encouraged by BofA to run up any and all debt necessary to keep making my payments. The idea was that the more current my account, the better the chance I would have to receive help.

Months into the melee I was then told that I had to be officially "past due" before they could even submit my request for help. So after tapping every resource at our disposal we had to purposefully miss a payment for them to even begin the process. Painfully, we wouldn't have been able to make that payment anyway and I told them that a month prior.

The latest is that I was told that the loan holder wasn't participating in Help for Homeowners at all. The loan holder is Wells Fargo.

Moments ago I got off the phone with WF and lo and behold, they certainly are participating. I'm sick of BofA outright lying to me. I'm just about ready to go the news with this. I can't tell you how many hours I've spent on the phone only to receive conflicting information from one call to the next.

And no one is held responsible....ever.

They could tell me that a unicorn was on its way with my modification documents and I would have zero recourse to call them on that. The only thing I ever get is, "I'm sorry they told you that, but they were wrong."

Anonymous
#168711

Candance,

when did you start your mod?

and you made 9 trial payments and then they made you Reapply? why did they say that you had to do that if you were already enrolled with a trial payment?

I am very concerned that BOA is just stringing me along with my payments until they can deny us and we lose our home.

Repeated calls to BOA is of no use, as they keep telling me that we are *in review* and *waiting on investor approval*. Did you get this when you called too? Amazing that no one there knows what is going on and when you as a question, you can't get an answer.

Anonymous
#166689

I agree BOA sucks. I applied for the Making Homes Affordable loan modification,I was supposed to make 3 trial payments and would then have an answer in regards to my loan.

I paid the trial rate for 9 months and after complaining, I received a new paperwork to re-apply for the program. I sent the paperwork back two weeks ago and I have been waiting on a response.

Just today, I get a letter in the mail from the lawyers, representing the owner of my loan informing me that my home is due to be sold in October. I called BOA and they had no idea what I was talking about.

Anonymous
#164838

I agree BOA is full of it. We are going through the same thing and every person has a different answer or knows nothing.

We have been tranferred so many times.

Really tired of Bank of America. I really think they would love for us to be another forclosure.

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