Stone Mountain, Georgia
Not resolved

I have been working for one year on the modification process. I was approved by Countrywide Mortage back in January of last year.

Then they fell headfirst into the arms of one of the biggest corporate fraud process that is happening right under the nose of the federal government. They lose paperwork on purpose, stretch you out by passing you from department to department. Making Homes Afforedable is ***!!!!! I am done with them as of today the last payment I sent them I just put a stop payment on the check.

Does anyone know how long this process goes on before they foreclose or is it feasable that I can short sell the property. Does anyone else have any experience with this??

Rick S

Product or Service Mentioned: Bank Of America Loan Modification.

Monetary Loss: $400.

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I hate to think that I am actually saying this, but Bank of America will not care about how they are hurting us and our families until they experience hurt and loss in their own... they are as evil a threat to the citizens of this country as terrorists are and they need to be dealt with just as we would the most evil of the world.

I am former military and former law enforcement, but they have nearly pushed me to reverting to my training and expertise in those fields... It is amazing how attitudes modify when they are forced to face their own mortality... or the mortality of one of their loved ones. And for what?...

a few more thousands of dollars to add to their Billions.

They need to be treated like the cancers they are... and excised from existence.


I have filed several complaints through the US Dept. of Treasury web site--at least it gets there attention.


has anyone taken these bums to court and if so what happen???????





Well the BOA SOBs sold my loan to another company thank the good lord i got away from them idiots and thiefs, why the feds let them screw over us ill never figure out except mayne boa paya under the table u think


Bank of America

had me in a forclosure for 3 yrs

but never had any info on my account

it is like they lost my account

they don't even have me onn record as having a mortg with them

finally the Credit agencies got them to remove the neg report


The same here with Bank Of America was aprove with Country WIde well with Bank Of America was aprove and after making 2 reial payments I get a lether it say they took me out from the program and wll be Foreclosure soon .I call Bank of America the last week now they say they want money before they can give Any help I think the President Obama need to know about Bank Of America any one report this to the President Obama ? I think is time for him to know call the news also we all need help .we cant no be in this streets we have family kids.

Hope everyone can read this

Thank you



I would advise anybody who has been trying to get a loan modification from Bank Of America, who has a VA or FHA loan, and has never missed a payment, to contact some credit unions, and ask about getting a streamline (also called a IRRRL) instead. I have spent the last 10 months trying to get a loan modification from BOA, being that I am a head of household who took a education buyout several years ago, I go to school full-time and am living on a $27k per year stipend, plus my savings account. My buyout ends this year so I just got my last stipend. I was making $58k a year and working full-time when I first bought my house 6 years ago. I'm due to graduate soon and will then be seeking employment again. My mortgage is about $1,000.00 per month, and I am strictly living on savings now to support me and my daughter, and don't have a spouse or significant other to help with bills.

Bank of America has given me nothing but the run around for the past 10 months, the only correspondence that I have recieved from them is 4 packets requesting the same things over and over again, hardship letter, employment stubs, tax returns, bank statements, etc. and 2 denial letters. The first 3 times I received the info packets I rushed and made copies and sent the info back within the short timeframe that they requested. I also have called and called, more times than I can remember requesting status on my modification. The first time it took them 4 months just to assign my case to a negotiator. I have spoke to so many different people in their mitigation department, and was transferred so many times, that I have lost count.Very very exasperating dealing with it all. They have declined my request for a modification 2 times already, and never once in all that time offered me any type of modification, now they say everything has been cancelled so I have to start the whole process over again....They also told me that my loan was never put in for hamp (which is what I asked them to do in the first place), that the whole time I was only being considered for a "in house modification"..... And that I would have to start the process all over again to have my loan considered for the VA hamp. They told me over a month ago and said that they would be sending me the paperwork to fill out, and I have yet to even receive the paperwork. So I guess the 10 months that I have been dealing with this mess was all for nothing, they claim I have to start fro scratch, as if I never applied for a modification the first time.

That was the last straw for me. So tired of being on the BOA loan mod merry-go-round, i decided to do a little research and see what other options were available, and the VA told me about the streamline refinance. I contacted the credit union I had my auto loan with and found out they offer it and that I qualified. The good thing about the streamline refinance is that: You don't need an appraisal (good especially if your house is worth less than you owe like mine), there is no income verification (good if you are laid off or unemployed), they don't go by your credit score (good if your credit isn't so great). And you can roll your closing costs into the loan (good if you don't have the money on hand to pay closing costs). Also your current lender must refund you any money in your escrow account because a new escrow account will be set up and that amount will be included in your closing costs, so that extra money from your old escrow account will help you as well.

But there are two main criterias that they do require for a streamline refinance: Your loan must be VA or FHA, and you can not have missed or been late on any mortgage payments within the last 12 months. Thank God that I have never once been late nor missed a mortgage payment. And one more thing, if you have a second mortgage (equity line of credit or equity loan) most want that paid off first before they can approve you. I will be closing on a streamline this month and will go from a 6.25% fixed rate to a 4.875% fixed rate, which will drop my mortgage payment to around $860 per month. I was told that the whole process should only take about 3 weeks. I will be so glad to get rid of Bank Of America in the process, I really don't appreciate the way they have treated me, thank God there are other choices out there other than having to put up with their BS. They don't plan on helping anyone, and even if they do it will most likely only be temporary, they are ruining a lot of people's credit who have been approved for their modifications. I have read so many horror stories of the people they did approve, they reported their modified payments as late each month, dropping their credit scores as much as 100 points. Then they denied them to make their modification permanent, so they added all the partial payments they made during the trial modification period to the principal of their loans, added late fees, attorney fees,etc. and raised their mortgage higher than it was before they got into the modification program. So bottom line was that in the end they ended up with a much higher mortgage payment, higher principal, and ruined credit, all for being accepted into Bank Of Americas loan modification program. How is that helping anybody? So them NOT approving me for a modification may have been a blessing in disguise.

If you still have your credit in tact and no missed payments I would advise anybody to hurry and see what else is out their other than BOA mods, because once they screw your payments and credit up you may not have the option to go elsewhere, other lenders may not accept your loan after BOA finishes messing you over, and then you will be stuck with BOA having to keep jumping through their hoops and getting nowhere.


We are going through the B A modification nightmare for over 1 year. We were told 9 months ago we were approved. We then were told we were not approved and approved 4 more times! Everytime I call, no one knows anything. I have over 15k not applied to my home. I was only 3 months behind do to a loss of job.

Now I get calls from B A that is asking what I am doing with my property?

This company is nutz. They need a law suit on them FAST! Many like my family and I have made ALL payments since the start of the modification, only to be lied to, and them losing everything I send. Also, the restart the process to gain more money out of you knowing the end is coming....SAD COMPANY


Has anyone, anywhere ever been able to call B of A and get through to an individual who could give you a straight answer? Thie "800" phone system is a joke.

Maybe they just need a gov. bailout!

After several days of trying to make contact I took my business to a small local bank who gave me the same rates as

B of A.


My story is much of the same. Trial payments for 6 months to the tune of $18,000+.

Everything is going well, so they said. That is of course until I get a letter after the 6th payment saying "Denied. Not in investor's best interest." (as if they didn't know that before all of this started. Where has the money been applied to?

Late fees that they created.

Now I am underwater. I want to follow the actions of California and Washington and sue for their deceitful practices, but can't find anything similar in the NY/NJ area.


Brian fails to mention that Bank of America was given "carte blanche" at the Federal Reserve in exchange for helping home owners. Bank of America and other financial institutions who paid back their obligation posted record profits.

How? Borrowing billions at 0% from the Fed and keeping the interest generated from safer instruments than mortgage backed securities no doubt. This is like have a printing press or money tree.

Whether it is illegal or not, I can't say. In my view it is unethical and a more serious affront to the federal government than Martha Stewart's insider trading conviction.


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.


People, get over the bailout money thing. All the bailout was is a loan that they had to pay back just as you would have to pay back a loan.


We were only about 1 1/2 late on our mortgage. I lost my job and had to make the payment in halfs.

They are too *** to apply the money to my monthly mortgage and parked it in a "pending" status. They now hold over $11,000 of my money in "pending".

They won't apply it toward my mortgage or give it back to me. I'm now on my 20th to resolve.


Just wasted the last 8 months on Bank of America's twisted joke they call 'loan modification' process, only to find out that the 'private' investor onmy mortgage does not allow for it. Awesome.

20% down, taxes paid, HOA dues paid, and running behind on my payments and the only offer I got was foreclose or short sale. Even being $100k in the hole, I am willing to work something out, as this place is my 'home'. Apparently, not good enough. I hope those people enjoy the bailout money as I sell all of my belongings and move under a freeway overpass.

I dropped every penny I had into my home (including retirement) I am willing to bet that when the dust settles, there will be a few indictments going on for the suits at BofA. I wish everyone better luck than I had.


It's been a living *** trying to get a loan modification through BofA....Every time I call, I am on hold for at least a hour or so. If my call is answered, they tell me things are being processed and I am told to call back weekly for further updates.

I've been calling every week now since November and nothing has changed.

Something needs to be done because I know I'm not the only one out there trying desperately to save my home. It all seems like a big joke and it's very unfair to be treated so horribly.


just finished workout plan with waiting on bank of america to respond.we are fighting to keep our home.


I live in California. Mortgage is with Bank of America.

Last payment was made in the month of May 2008. The bank has gotten around to foreclosing on me now after about 20 months. This is mainly due to the incompetent people working at the bank. Yes I did try to get them to agree to a short sale.

At the very least you can expect to be in your home for about 12 months after your last payment.

As for the short sale process things are improving now. They have introduced a new online system so that they dont "lose" documents anymore.

Expect a reply from them in about 3 months after they "receive" all documents from you. Hope this helps