Comments on: Bank of America Loan Modification-Get Approved with Obama’s Plan

By: Joe Leahy

Joe Leahy — Mon, 06 Dec 2010 19:44:29 +0000

Ok, here I go, I went into the trial payment plan with Bank of America. They gave me a lower payment and told me to make it for 3 months. The 3 months turned into 8 months. After this they said I did not qualify and said that I needed to come up with all the past money or face foreclosure. I was told at the beginning that if I did not qualify they would put the payment at the end of my loan, now they will not. The reason why I did not qualify is that my payment was not 31% of my income. So what if its 40%! I’m making the payment! When I was giving this loan from Countrywide they did not qualify me at 31%! By the way Bank of America bought Countrywide at pennies on the dollar. Anyway, they are now telling me to short sale my house. So some stranger can come in and get a great deal on my HOME. Why cant they short sale to me or modify my loan. This system is so WRONG!!!!!!! I have made all of my lower payment and I was told if I make them they would approve me! The banks got billions to be bailed out but they still get their bonuses! They could have paid off everyone’s loan in the country and gave people with no home money to put down on one. That would have stimulated the economy. After all with no house payment people would be eating out, go shopping, taking trips and supporting small business. So anyway after Bitching Bank of America sent me out anther packet and told me to start the whole process again. This is WRONG ON SO MANY LEAVELS!!!!

By: admin

admin — Fri, 19 Feb 2010 15:49:52 +0000

The Fed is now requiring lenders to reply to a loan modification application within 10 days of application, and acknowledge receipt of your request. Homeowners then have to send in all of their paperwork, and once the bank receives everything they are required to give a yes or no answer to your loan modification within 30 days.
If your loan modification financial statement proves that you fit into the Obama criteria, then your trial loan modification will begin. You must make all 3 of these payments on time, and then your modification will become permanent-automatically! No more updating your information or having to start all over again.
If your loan modification application is not approved, then you may be offered another option called HAFA. This is a streamlined short sale process and is a much better option than a foreclosure.
Either way, you must prepare your financial statement accurately and correctly.
Visit http://www.myloanmodificationcenter.com for free information on how to increase your chances of success-read the BLOGS to learn more.

By: K Edelman

K Edelman — Thu, 18 Feb 2010 16:34:05 +0000

I can’t even begin to explain how frustrating it is to be strung along the way I have been. I know there a million others who can relate. I could write a book on the number of times I have called and been given the same old line with no compassion. I recently got a glimpse of hope when I was given a direct number to my qualifier, who approved us and was going to call me with the terms of my modification. I called back as I was told (in the event he didn’t call) and now nobody can get in touch with him, including me. I feel like I’m sitting in a black hole with no hope for help. Where did all of our tax money go? It would have saved time, money & frustration giving it to the taxpayers and not the banks. Please help!

By: Joel S. Crow

Joel S. Crow — Wed, 17 Feb 2010 17:45:32 +0000

My BoA Home Loan Account # is 186448206. I first started the loan Modification process on Aug. 11,2009. I filed for a ch. 7 bankruptcy on July 31, 2009 and was certified on Nov. 1st 2009. I have called 17 times in the last 4 months and each time talked to a different representative in your bankruptcy dept. I have been assured that my file was sent to the Modification Dept. and complete and that I appeared qualified, even that you have received the release letter from my bankruptcy attorney. The answer I’ve received the last 7 times I’ve called is always the same, I.E.; that my case was under consideration and that I should keep calling to see if I have been assigned a “negotiator”,We are Senior’s and I a disabled Vet. we have used up all of our retirement funds trying to make our house payments on time and are now over 30 days behind. We could be a “poster family” for the Obama loan modification program.
I know that BoA has the latest technology and should be able to certify documents other than by Fax which I’ve been told by your people that is running three days behind.
Please have someone call me and give my case some priority as we are in dire straits and are struggling to keep our home. I’ve even deferred ordering some of my med’s. I know your’s is a massive job as so many need help but please contact me.
God bless you all, J.S. Crow