BoA says there is nothing more they can do for us

[sanhima]

Well, as I predicted with the previous customer relationship manager when we were denied earlier this year, we're back trying to do another loan mod within six months. Only this time, really do think they are not looking at everything. I say this because when we went over everything, the relationship manager did not ask about a car payment, HOA payments or other payments that had been mentioned before. I had to literally walk him through every single thing we paid on before he said 'oh I guess I missed that one.' Yes, he gave me a lot of confidence.

 

I think they tried to get us to qualify on the DOJ restructuring, but have said that we are not showing a hardship. Apparently being 3 months behind (worst than when we tried the first time around), and that our financial situation has not improved, not to mention that the husband took out a 401k loan to try and get us caught up because they were dragging their feet means that we MUST be doing good. If we were doing so good, why are we 3 months behind, and I just got the call today that we are now going into foreclosure? Yes, BOA, we're doing real good. I was told the only way they would even consider a mod at this point is if we were divorced or of one of us died. My husband is calling BS on this. He feels, as I do, they don't want to help us.

 

I don't know where else to turn to. The call I made to my company's EAP recommended a credit counseling service that also specializes in housing counseling so this is our last ditch effort. If this fails, then we pack and my husband has to deal with a foreclosure on his report (I've been absolved of this debt due to a bankruptcy in 2008). The only things we'll have to deal with is the 2nd that I'm paying on and that I've kept up with and the HOA dues that I'm paying as well.

[jmw1212]

Sounds like what PNC is doing to me. I called the HOPE hotline and found out that it was illegal what they told me (to stop paying my mortgage for two months) I also found out we would never have qualified for HAMP because our loan was Fannie Mae and they will only modify if divorce death or disability. So for the past two years they have lead my along thinking I would qualify for a HAMP mod, only to learn I would have never qualified. We are now so far behind 2 years in payments because they wouldn't take any payments unless we paid all of them. We are in a mess and now loosing our home.

 

Well, as I predicted with the previous customer relationship manager when we were denied earlier this year, we're back trying to do another loan mod within six months. Only this time, really do think they are not looking at everything. I say this because when we went over everything, the relationship manager did not ask about a car payment, HOA payments or other payments that had been mentioned before. I had to literally walk him through every single thing we paid on before he said 'oh I guess I missed that one.' Yes, he gave me a lot of confidence.

 

I think they tried to get us to qualify on the DOJ restructuring, but have said that we are not showing a hardship. Apparently being 3 months behind (worst than when we tried the first time around), and that our financial situation has not improved, not to mention that the husband took out a 401k loan to try and get us caught up because they were dragging their feet means that we MUST be doing good. If we were doing so good, why are we 3 months behind, and I just got the call today that we are now going into foreclosure? Yes, BOA, we're doing real good. I was told the only way they would even consider a mod at this point is if we were divorced or of one of us died. My husband is calling BS on this. He feels, as I do, they don't want to help us.

 

I don't know where else to turn to. The call I made to my company's EAP recommended a credit counseling service that also specializes in housing counseling so this is our last ditch effort. If this fails, then we pack and my husband has to deal with a foreclosure on his report (I've been absolved of this debt due to a bankruptcy in 2008). The only things we'll have to deal with is the 2nd that I'm paying on and that I've kept up with and the HOA dues that I'm paying as well.

 

 

 

[sanhima]

I've considered calling HOPE as well, but if they're going to be doing the same thing as the person we're going to be speaking with tomorrow, then I might just be asking someone to do the work this person is going to hopefully help us with. We don't need a Mod anymore - we need complete restructuring. I feel that if they don't help us and tell us to get out, then I have to decide what to do about the 2nd that we're still current on, as well as the HOA.

[sanhima]

BOA came back with a Trial Mod, but honestly, it won't help us. It's just $50 less than what we're paying now, because they feel we can afford it. The account person - I honestly don't know what to call him anymore simply because talking with him has become a joke - said that there was no guarantee that would be lowered, because if we can afford that, we can afford the new lower payment.

 

I have an appointment with a housing counselor tomorrow via telephone to discuss our options, which right now looks like a short sale if it can be done. There is also the matter of the 2nd mortgage which we've kept current. I'm already looking for places to live because I don't trust BOA. There are too many stories of them coming and changing locks and throwing things away. I also am not going to put any work into the place. They can take it/sell it as is. If I have to put stuff in storage and live in an apartment for a few months until something better comes along, I'll do that.

 

I've also thought about contacting the companies that will buy the houses as is, but I'm not sure just how reputable they are, as well as we'd be underwater as it is and still have a delinquency. Any suggestions/advice would be nice. No lectures please (because I like the ignore button. a lot.)

[Bitbit]

If there is a foreclosure, it will show on your credit report too, if your name is on the loan. Discharging the debt in BK doesn't change that. It just means they can't make you pay the debt.

[sanhima]

If there is a foreclosure, it will show on your credit report too, if your name is on the loan. Discharging the debt in BK doesn't change that. It just means they can't make you pay the debt.

 

Yes, I know that already, thanks for telling me something I knew.

 

The problem is that BOA is playing a game of call us ASAP! and when we do call, no one calls us back when we leave a message. I've taken to calling the executive offices because it's the only way I can get any answers/help. This whole thing has been a huge cluster*Admin removes vulgarity*, and I honestly will be glad to be out of the house.

 

I also wonder if we will truly see the money they claim they'll give us if the place does sell (right now it's being offered for just under $93k, a huge difference from the $148k we paid almost 7 years ago). Right now, they seem to be doing a 'postponement' of the foreclosure sale for 30 days.

 

I never liked BOA before, and now they've given me every reason to never, ever want to do business with them ever again.

[jmw1212]

About FC showing on the credit report, I guess because we filed BK7 immediately prior to any foreclosures, somehow it never showed up on our credit. Thankfully:) Now when you go for a new mortgage, I think you have to answer that question, but for basic credit, no.

Back to BOA, you may want to check with a lawyer because I heard recently they were in a class action lawsuit for illegal foreclosures from a few years back, I think ending in 2011 or 2010. Google it, as it may help you, GL:)

[thatguyneef]

All I can say is keep trying.

 

It took me 3 years with over 5 times of applying, lost paperwork, no contact etc.

 

They FINALLY approved and finalized by loan mod.

 

After 3 years of non payment, they took our 230k mortgage, with 40k in back pay, and knocked it to 165k mortgage with 45k in a non interest bearing account in which our mortgage payment is calculated off of 120k.

 

We went from $1900/mo plus the $164 HOA to a payment of $895 and the HOA on top.

 

The key is you cant make too much and you cant make too little. BOL

[Auto_Body_Chick]

If there is a foreclosure, it will show on your credit report too, if your name is on the loan. Discharging the debt in BK doesn't change that. It just means they can't make you pay the debt.

 

 

They can't report a new foreclosure on her credit report. Her responsibility was absolved with the BK. It will be PR but not on her credit report.

[sanhima]

So now BOA is sending us letters telling us who our new Relationship Specialist is, and yesterday there was a bill in the mail. So after nearly three months, they are still seeking payment and still trying to help us. Wow. Let me just go whip out my magic wand and magically make all the money that's in arrears show up, shall I? Opps, sorry, the magic isn't working.

 

As for the house itself, we moved out, found a rental and for the moment have had a lot of people looking at the house. One offer, but seeing how much the house is being listed for and how much the offer is, I doubt BOA will accept it. It's going for half of what we paid for it.

Edited December 11, 2012 by sanhima

[sanhima]

Bank of America has finally decided that rather than accept the offers on the house during the short sale (which ended on April 8th), they'd rather take the house back. So rather than accept any offer, they'll take the house and have yet another vacant house on their hands. To add insult, the person they assigned us of course doesn't answer their phone. So rather than play phone tag, we called the executive customer service again and let them deal with it. It's the only way we've ever gotten any help at all.

 

So now we have to wait for them to do a title search, work with our 2nd and find some excuse not to let us deed in lieu. Yes, I have little confidence in Bank of America since they've proven time and again they didn't want to help us and told us that they couldn't help us. Their words.

[sanhima]

After much fighting with Bank of America, they allowed an extension of the short sale. This has given us a potential offer on the house. However, I still have little faith in the so-called bank after their blatant deception was revealed last week.

 

So we'll see what new excuse they come up with this time.

Edited June 26, 2013 by sanhima

[sirrowan]

It is true that you must have a hardship to qualify. Hardship is involuntarily unemployed/underemployed, death, divorce, excess medical bills etc. Something must have contributed to your being behind.

 

Ohio is one of several states that are part of the Hardest Hit Funds-Retoring Stability/Save The Dream. With this program, there are funds (up to $35k) to back payments, taxes, etc.

 

Check and see if your state is part of the Hardest Hit Fund.....

[sanhima]

It is true that you must have a hardship to qualify. Hardship is involuntarily unemployed/underemployed, death, divorce, excess medical bills etc. Something must have contributed to your being behind.

 

Yes, I am very well aware of that and I honestly don't appreciate the insinuations that we did something purposely to cause this.

 

Here's the thing - we HAVE provided them proof of the hardship. It's BOA who has chosen to ignore this and make our life difficult. Short of my husband not working, I don't know what else to do. Getting a second job is not possible. If we could work second jobs we would, but it's hard enough just trying to find work where we live. My husband had a reduction of income. How is that not a hardship? I have had significant medical bills over the last two years that are documented and eats into my pay as I struggle to pay it back. How is that not a hardship?

 

BOA makes up their own rules along the way and decides what is and isn't a hardship. I believe 100% that the managers and anyone who were working on the loan mods were told to deny people who applied for mods. We were one of their victims. We still are one of their victims.

 

We also do not have the program you mentioned. Missouri is not one of the states that has this.

[AIMANZUL]

Loan modifications seem like stated income mortgage deals to me ? like back in the days....

[sanhima]

Loan modifications seem like stated income mortgage deals to me ? like back in the days....

 

Sorry, but your statement doesn't make any sense.

[snookums]

Loan modifications seem like stated income mortgage deals to me ? like back in the days....

No. We had to provide proof of income for our modification. It was full documentation. We also had to provide documentation (proof) of our hardship.

[sanhima]

 

Loan modifications seem like stated income mortgage deals to me ? like back in the days....

No. We had to provide proof of income for our modification. It was full documentation. We also had to provide documentation (proof) of our hardship.

Yes, exactly. In our case, I had to provide not only the pay stubs showing my husband's current income, but also pay stubs before the reduction showing that yes, we had been able to afford the mortgage payment. Plus also provide statements from my medical bills.

[sanhima]

Well, they sold the house in foreclosure. We were working with the realtor on a sale contract and she was notified that the house went to sale on the 14th even though she had notification that the pending sale had been cancelled. Despite the fact that we worked hard to try and short sale the house, they decided that we weren't moving fast enough. It was bought by Fannie Mae.

[DHW]

Hi sanhima, my DH is sort of in the same situation as you were, and I just wondered how everything is going now that the house has sold.

[sanhima]

Not a peep from BOA or anyone else since August. It's as if we don't' exist anymore. BOA screwed us good, so I hope whatever perks the people got was worth it.

[passion2help]

All I can say is keep trying.

 

It took me 3 years with over 5 times of applying, lost paperwork, no contact etc.

 

They FINALLY approved and finalized by loan mod.

 

After 3 years of non payment, they took our 230k mortgage, with 40k in back pay, and knocked it to 165k mortgage with 45k in a non interest bearing account in which our mortgage payment is calculated off of 120k.

 

We went from $1900/mo plus the $164 HOA to a payment of $895 and the HOA on top.

 

The key is you cant make too much and you cant make too little. BOL

All, persistence with BOA, and showing no signs of weakness is key. Your financials must be carefully evaluated. If you show too much excess funds then they wont help you, if you show too much deficit they wont help you either. What you need is to show a deficit to the point of what ever lower payment you are seeing will bring you back slightly positive or neutral. They are dogmatic. Here is what you need to do to get BOA to take some action in helping you. When they see that you ar ea nut case they will mod, or sell the account.

 

1. Get a forensic audit done on your original loan and demand a lot from the lender (BOA). Your loan forensic auditor know what to ask for. This slows the process. They will usually write back and basically ignore your request saying they dont need to provide it. tell them you will file suit and request motion to complel

2. Get an attorney to write them a letter saying they now represent you. You can do it by calling their loss prevention department with attorney on the phone, then tell them you give attorney "X" permission to discuss your account, then they will require the attorney fill out a form and fax back. That will put a halt in the foreclosure process temprarily.

3. Then send letter to office of president with all that forensic audit and let them know you will write office of the comproller (OCC).

4. Go to OCC website and fill it out with your complaint. The OCC will write them

5. Let BOA know you will take all legal actions for any violations of law

6. If you live in a judicial state you have more time, non judicial states will need to act quickly.

7. Email office of president and you will get a response almost within the hour. These folks from offic eof president are your relationship managers, they have more pull than the weezles that answer from loss prevention or collections.

 

Hope this helps

[sanhima]

 

All I can say is keep trying.

 

It took me 3 years with over 5 times of applying, lost paperwork, no contact etc.

 

They FINALLY approved and finalized by loan mod.

 

After 3 years of non payment, they took our 230k mortgage, with 40k in back pay, and knocked it to 165k mortgage with 45k in a non interest bearing account in which our mortgage payment is calculated off of 120k.

 

We went from $1900/mo plus the $164 HOA to a payment of $895 and the HOA on top.

 

The key is you cant make too much and you cant make too little. BOL

All, persistence with BOA, and showing no signs of weakness is key. Your financials must be carefully evaluated. If you show too much excess funds then they wont help you, if you show too much deficit they wont help you either. What you need is to show a deficit to the point of what ever lower payment you are seeing will bring you back slightly positive or neutral. They are dogmatic. Here is what you need to do to get BOA to take some action in helping you. When they see that you ar ea nut case they will mod, or sell the account.

 

1. Get a forensic audit done on your original loan and demand a lot from the lender (BOA). Your loan forensic auditor know what to ask for. This slows the process. They will usually write back and basically ignore your request saying they dont need to provide it. tell them you will file suit and request motion to complel

2. Get an attorney to write them a letter saying they now represent you. You can do it by calling their loss prevention department with attorney on the phone, then tell them you give attorney "X" permission to discuss your account, then they will require the attorney fill out a form and fax back. That will put a halt in the foreclosure process temprarily.

3. Then send letter to office of president with all that forensic audit and let them know you will write office of the comproller (OCC).

4. Go to OCC website and fill it out with your complaint. The OCC will write them

5. Let BOA know you will take all legal actions for any violations of law

6. If you live in a judicial state you have more time, non judicial states will need to act quickly.

7. Email office of president and you will get a response almost within the hour. These folks from offic eof president are your relationship managers, they have more pull than the weezles that answer from loss prevention or collections.

 

Hope this helps

 

And how does one afford and attorney? We make too much to get legal aid (according to them) and the ones who can help us are backed up with cases.

 

We proved time and time again that we were experiencing a hardship and they chose to drag their feet, chose to ignore the paperwork submitted and then chose to foreclose the house in the middle of a contract for a short sale. We were in negotiations with the buyer for the fair market price of the house that BOA wanted ($88K). They would not call back the realtor in a timely manner and I had to continually call the person I was working with in the office of the president to force them to answer. And just when things were going good with that contact, they'd switch to a new person who acted as if they didn't want to help us.

 

Even in the end, the contacts in the office of the president were just shrugging their shoulders because they didn't want to be bothered with us. So I say again, I hope whatever kickbacks they got were worth it.