Fight Back!

Did your Bank of America loan modification get denied?  You are not alone, the vast majority of homeowners who apply for a loan mod are turned down the first time.  This is not the end of the story, so don’t give up yet!  You are allowed to re-apply for a loan workout, but the bank will only accept your new application under certain conditions.

Tactics to Fight Bank of America Loan Modification Denial:

  1. First, find out exactly WHY you were denied.  There are usually two reasons-too much income or not enough monthly income or the current market value of the property that the bank is using in their formula is incorrect.
  2. If the reason is your monthly income, then determine just how much income is required to pass using the Loan Mod Quick App calculator.

    Fine Tune your Figures to Pass

    The general guideline is that if your income changes by 25% then you can re-apply and be reconsidered.  Any income you put on the application must be documented, so be prepared to prove it.  Fine tune your figures using the Calculator, making sure you are now passing the guidelines and then resubmit your application again.

  3. If the reason is the valuation for the home, provide evidence to Bank of America that substantiates the current market value-a market analysis can be done by your local agent.  If the bank thinks your home is worth more than it actually is, this could cause them to deny the loan mod and instead opt for foreclosure.

Guidelines Met!

You can fight a Bank of America loan modification denial if you know the right tactics and have the right information.  The goal is to prove to the bank that you are a perfect candidate for a loan mod and that keeping you in your home is the best option for everyone.  Remember that the bank will only do what is the most cost effective for them-it’s not really about your needs at all.  You have to convince them with plain math that a loan modification is the cheapest and best choice!

Get help to re-apply correctly for your Bank of America loan modification.  Find out how much income is required and follow a sample monthly budget worksheet to get it right this time.  The Complete Loan Modification Guide kit

Download immediately!

and Loan Mod Quick App calculator give you the info and tools you need to succeed-this best selling resource guide has helped thousands of homeowners-learn how to turn your denial into approval-visit for more information.

5 Responses

  1. Bee Said,

    OMG, I was turned down by this bank “BANK OF AMERICA”; I should actually report them to CRAIN’s and other big newspapers; they are claiming I was turned down because I did not submit my financial to them. However, I have my proof of the many faxes I’ve sent to them with confirmation sheets; they are so stupid that they send me a document to fill out and wanted me to have it back to them by 5/19; the postmark on the envelope was only 5/18; so how on earth could I have gotten back to them by 5/19; my loan modification was denied actually on 5/21 by a Markisa HIte who does not return your phone calls and all of my documents were sent to her. They are also claiming that they sent to me a denied letter; in which I have yet to receive. Now I’m being told that I have to reapply again. The other stupid thing is that they drag the process on forever, then they’ll say to you well your 25 payments behind; can you make a payment today; no I certainly can not; you could have been accepting payments early on; but you informed me that once the house is in the foreclosure process they cannot accept payments; oh but you’ll accept a big lump sum payment now. What BS this is-it’s just a tactic to take the house from you.

    Posted on June 21st, 2011 at 11:32 am

  2. Allan Hernandez Said,

    It has been 10 months of re applying , re faxing and re newing our paper works for re modification to Bank Of America . Some info expires because of Bank specialist negligence to process. Re do the whole thing again and again. Telephoned evry two weeks nothing happened. There reason was not enough info. given.I have been frustrated and lost interest with this people. Now they are going to foreclose my home. Whos going to approve us to find an apartment to live if my credit has been damaged by this bank or employee ?


    Posted on April 16th, 2012 at 2:29 pm

  3. Dawn Helton Said,

    I have been applying since losing my job in April 2009 when I lost my job. I kept up the mortgage until July 2011 after exhausting all of my 401K and my savings. It is now over 6 loan modification applications later and I still have not received a denial letter in the mail but they will tell me over the phone that I am denied due to lack of income. I too have faxed and refaxed information and been told they did not receive it. Titanium Solutions has come to my house two times and physically reviewed my applications and forwarded it all to BOA with the same lack of response. Im now over 2 years down on my mortgage. I was also told that I cannot get any of the Federal assistance monies because my loan is FHA and my investor chose not to participate in the Global Settlement….. Bankruptcy court here I come and they will get nothin…………

    Posted on December 5th, 2012 at 1:10 pm

  4. Karen Said,

    We have denied three times, dealing with unresponsive client service managers. They denied us in two days, each by several designated client managers. They don’t even appear that they have accountability. The CEO office of the President customer relations department basically switches you to the customer care relationship manager. They would rather us lose our home.

    Posted on February 25th, 2013 at 8:58 pm

  5. admin Said,

    Getting approved for a Bank of America loan modification is not easy-BUT it is possible as long as you know ahead of time exactly what you need to report on your application. Keep in mind that this is an underwriting process-your financial worksheet figures must PASS the standard guidelines for approval. If you report too much or too little income you will be denied. The trick is knowing ahead of time just how to fine tune your budget figures-use the Loan Mod Calculator to automatically compute and display your own specific budget requirements. This easy to use program will show you exactly where and how to make the needed adjustments to your income, expenses and assets before you submit-avoid mistakes-use the Loan Mod Calculator. The #1 reason for Bank of American loan modification denial is the financial worksheet information provided by the homeowner does not PASS the approval guidelines-learn HOW to complete yours correctly!

    Posted on April 16th, 2013 at 12:34 pm

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