Bank Of America - Why was I declined a mortgage modification?
I was let go from a couple of jobs in the poor economy since we bought my house.My yearly income has been cut over 50% since we purchased in 2006.
In attempting to do a Home Modification loan to reduce my monthly payments with Bank of America, it took them 6 months to get the paperwork right. Twice they said they misplaced it, and once I was told they entered it too late.
This entire time I was told to continue making my payments on time, because that would help ensure a modification.The reason my modification was ultimately turned down, I was told, was because my payments were always made on time, so obviously I did not need to modify my payment schedule.
Review about: Bank Of America Loan Modification.
Monetary Loss: $1200.