cruzer

I received a court date for my foreclosure of my home for October 13, 2011. My friend told me that after they issue court papers, the sheriff will come to your door and also deliver the court papers? If this is true, can I contact the Sheriff's office and go pick the papers up to avoid the embarrasment of them showing up at my door?

So BofA has accelerated my loan to foreclosure status. I tried getting loan modifications and it took forever and they denied me. So I received certified letters from their attorneys office saying I have a court date in October with a sale date of my home in November! They have an itemized list of late charges,attorney fees,inspection fees, etc. This is my "payoff statement" to reinstate my loan. It is around $18,000.00. I guess I have a couple questions: 1) Can I work with them or BofA at this point to breakdown this $18,000.00 since I can't pay it all at once? 2) Is there any other alternatives at this point "other" than reinstating my loan or is this my only option? Any help would be greatly appreciated. Thank you.

Ok so I applied for a loan modification a few months back. I got a letter saying that I did not qualify for "financial" reasons...no real detailed explanation. I've gotten behind on some payments. Now I get a "Notice of Intent to Accelerate". It gives the amount that I need to pay by January 19th. It also says I have other "options" to stop foreclosure proceedings. They are: Loan Modification,Raypayment Plan (requiring 1/2 of the past due up front)then they work the other half into my payments,Sale of Property and Deed in Lieu. It says to call them right away to discuss any of these options. My question is: "What" exactly does this letter mean? What would my "best" option be to choose? Why would they offer me another Loan Modification if they already turned me down? Please help to advise me what to do? I want to call them but want to have some "knowledge" before I do so I don't let them try to pull something over on me! How much time do I really have from this letter? Obviously I don't want to ignore it..and I don't want to start Foreclosure proceedings. I trust the opinions of this board so hopefully someone can guide me in the right direction.

Hello Natural, I was just reading your post and noticed your situation is similar to mine. Hope you don't mind if I as a couple questions? We owe about $12K in back payments. Tried to get a loan modification but were denied. How were you able to settle on the 25% of the amount you owe? I'm sure my only options will be to pay the amount due, like you. Was your bank willing to work out a repayment plan...or was that difficult? I'm pretty sure I can make my payments from this point on....I have a better job,etc....but I just can't affoard to pay the amount that is past due. I haven't even gotten to the point of receiving a "letter of intent to foreclose" yet...so I want to get all my information straight before I even call the bank (BofA). I want to get educated if you know what I mean. It sounds like your situation worked out for you,thats great! So did you get the attorney thru your bank or did you hire one on your own? Any suggestions would be greatly appreciated. I certainly don't want to lose my home,as I'm sure you didn't. If I could just get this past due amount behind me...I know I could move forward without any problems. Thank you for your help.

So I sent in all my paperwork for a Loan Modification with BofA. I just got a letter today saying "there are no available workout options based on the financial information that was provided"........"however,if your financial situation changes,please contact our office with the updated information". So here's my question, I have past due payments because I got behind "obviously"...which is why I needed a modification in the first place! So since I didn't qualify for the modification....what happens to those "past due" payments? Do I have to make them up.....do they get "rolled" into my loan.....????I'm not sure what to do,but I obviously can't pay back the past due amount all at once??? Any help would be greatly appreciated. Thank you So I just called BofA Home Retention. They basically said that I will have to pay the "entire" amount of my past due payments,since I don't qualify for a modification! Since I am just now coming out of the modification process.....it will take a few weeks for them to even process the "notice to foreclose" letter. So now what? When I get that letter.....will I have the opportunity to "make up" that past due balance.....thru paying higher payments or something like that......or am i pretty much locked into having to pay that entire amount?

So I just called BofA Home Retention. They basically said that I will have to pay the "entire" amount of my past due payments,since I don't qualify for a modification! Since I am just now coming out of the modification process.....it will take a few weeks for them to even process the "notice to foreclose" letter. So now what? When I get that letter.....will I have the opportunity to "make up" that past due balance.....thru paying higher payments or something like that......or am i pretty much locked into having to pay that entire amount?

So I sent in all my paperwork for a Loan Modification with BofA. I just got a letter today saying "there are no available workout options based on the financial information that was provided"........"however,if your financial situation changes,please contact our office with the updated information". So here's my question, I have past due payments because I got behind "obviously"...which is why I needed a modification in the first place! So since I didn't qualify for the modification....what happens to those "past due" payments? Do I have to make them up.....do they get "rolled" into my loan.....????I'm not sure what to do,but I obviously can't pay back the past due amount all at once??? Any help would be greatly appreciated. Thank you

I'm doing a loan mod with BofA. They have requested a "Hardship" letter. What do i need to state on the letter? Does anyone have an example I can use? They also want a list of my monthly expenses. Do I list everything right down to the smalles stuff? I just want to make sure I do this all right. I also need to get them bank statements,pay stubs,etc. Does it help the more monthly expenses you have? Any help would be greatly appreciated. I need to get working on this and am just a little confused about what they need. Thank you!

So I got my loan mod. paperwork via fed-ex today. They want the 1st trial payment and all the paperwork by Dec. 1st. So here are my questions.... 1) What do they base the qualifying of a modification on??? I see people talking about 31%....what does that mean? 2) Is there anything I can enter on the hardship forms that will "help" me to qualify? 3) I see people being denied because of insufficent income....but that's the main reason people need modifications right? 4) What happens if I'm denied after the 3 month trial period.....what happens to my past due payments? I'm the "sole" money maker,my wife was collecting unemployment,but it ran out,so my income is the only income. Does that mean that I won't qualify because I don't make enough.....I'm confused. Any help would be greatly appreciated. I don't want to fill out these forms until I get more info from people in the same boat! Don't know if it means anything but I am not "upside down" in my home. In fact I think I have a good amount of equity in it.....does that make any difference? Thanks everyone!

Were you late before you started the trial? If not, did they report you late during the trial? Yes,I was late. I have missed Aug and Sept. payments. The main reason I called was because I didn't want the "letter of intent" to go any further (foreclosure). I haven't started the trial yet technically,like I said,my 1st payment is this friday. I'm a little confused now. All I know is what she told me. And that is that I am to make these payments for 3 months,and they will review my financial info to see if I qualify for it. I'm assuming they mean a loan modification. She said the letter of intent will be put on hold and that it will show that I am in a loan mod. process with them. So technically I am 2 months late,since October isn't over yet.

She told me that I am to make 3 payments of $1007.00 for the next 3 months. And that I have 48 hours to get the paperwork faxed to them (pay stubs,tax returns,etc.) Then they will notify me if I qualify???? I have the 1st payment of $1007.00 scheduled for Oct. 23rd......should I cancel it or just let it go thru?????

I "was" offered the 3 month trial over the phone,that's the 1st payment that i will be making on Oct. 23rd. Yes,we did efile,so that should be easy to find. So in your opinion,if we send in all of this which "clearly" shows that our income has been reduced,will we qualify for the modification,and if so,what do they modify,do they lower your interest rate or your payment or both? Thank you again for your help! Seriously.......I thought they wanted a "personal" type letter? Ok,this looks easy enough. So basically I just check the box that says my income has been reduced right? Just to clarify,I AM working,my wife is the one that ran out of unemployment,so we are still getting my income. What about the "other" section.....should I enter anything there.....like maybe come up with something else to help my case. Also,they want our tax return from last year. But,last year my wife was working,so it will show her income.....what is the reason they want that and why do they want 3 months of my bank statements? thank you for the response! If/When you are offered a formal 3 month trial period, the link to the form I provided, is the form they will want you to send in. There's a section that allows you to enter an explaination for any/all of the items you checked yes on. Be sure to fill this out. Last year's tax return is a requirement. Here's an important tip. If you e-filed, you will need to print out a copy of your 2008 fed return with all of the schedules. Make sure that both you and your wife sign and date the tax return. This will save you a headache in the future. They want the returns to verify that there has indeed been a reduction in income. Same thing for the bank statements. They want to make sure that the figures you are providing match what your bank statements show. I "was" offered the 3 month trial over the phone,that's the 1st payment that i will be making on Oct. 23rd. Yes,we did efile,so that should be easy to find. So in your opinion,if we send in all of this which "clearly" shows that our income has been reduced,will we qualify for the modification,and if so,what do they modify,do they lower your interest rate or your payment or both? Thank you again for your help!

I "was" offered the 3 month trial over the phone,that's the 1st payment that i will be making on Oct. 23rd. Yes,we did efile,so that should be easy to find. So in your opinion,if we send in all of this which "clearly" shows that our income has been reduced,will we qualify for the modification,and if so,what do they modify,do they lower your interest rate or your payment or both? Thank you again for your help! Seriously.......I thought they wanted a "personal" type letter? Ok,this looks easy enough. So basically I just check the box that says my income has been reduced right? Just to clarify,I AM working,my wife is the one that ran out of unemployment,so we are still getting my income. What about the "other" section.....should I enter anything there.....like maybe come up with something else to help my case. Also,they want our tax return from last year. But,last year my wife was working,so it will show her income.....what is the reason they want that and why do they want 3 months of my bank statements? thank you for the response! If/When you are offered a formal 3 month trial period, the link to the form I provided, is the form they will want you to send in. There's a section that allows you to enter an explaination for any/all of the items you checked yes on. Be sure to fill this out. Last year's tax return is a requirement. Here's an important tip. If you e-filed, you will need to print out a copy of your 2008 fed return with all of the schedules. Make sure that both you and your wife sign and date the tax return. This will save you a headache in the future. They want the returns to verify that there has indeed been a reduction in income. Same thing for the bank statements. They want to make sure that the figures you are providing match what your bank statements show.

Seriously.......I thought they wanted a "personal" type letter? Ok,this looks easy enough. So basically I just check the box that says my income has been reduced right? Just to clarify,I AM working,my wife is the one that ran out of unemployment,so we are still getting my income. What about the "other" section.....should I enter anything there.....like maybe come up with something else to help my case. Also,they want our tax return from last year. But,last year my wife was working,so it will show her income.....what is the reason they want that and why do they want 3 months of my bank statements? thank you for the response!

So I got a letter of intent from BofA. I am really only 60 days late. The lady at BofA offered me the 3 month trial lowering my payments for 3 months and asked me to fax over my fianancial info for the possibility of a modification. I have actually scheduled the first lowered payment for next friday,the 23rd,so then I will technically only be late for the month of September. Anyway,she wants me to send a hardship letter. My question is.....what do I put on the letter? I mean the real reason for us getting a little behind is because I was laid off,was collecting unemployment,but it ran out and I don't qualify for an extension. So basically,our income was reduced. Is that what I put on the letter? She said that the letter of intent will be put on "hold" by me making these arrangements with them. I hope she's right,I DO NOT want the foreclosure to get started. She also said review of the modifiaction could take up to 90 days. Anyone gotten a good modification and how do they decide if you are getting approved? Thank you everyone.