Nightmare with Bank of America
In March of 2009 I lost a second job that I had which made it inpossible for me to keep up with the mortgage payment at it's current amount, They say when you know you are going to have trouble making your payments to contact your lender right away, I DID THIS! (March 2009) I faxed and mailed all of my documentation to see if I would qualify for a loan modification under President Obama' MHA, The only thing I kept getting from them (B of A) were form letters telling me "You may qualify for a loan modification" Do this Do that, I faxed and mailed and faxed and mailed continuously all year long, I called and called and called, the left hand at the bank doesn't know what the right had is doing, they have so many offices in different states, that one office doesn't know what the other one is doing! After all that time of doing everything they asked me to do and send and calling to find out if they needed any more paperwork from me, I get a letter of foreclosure!
I called the bank again I was told over and over that I was still in the review process but from everything they could see "I DID QUALIFY" I asked them then why was a sent a foreclosure notice? Of course they couldn't give me an answer! I even went so far as to contact Rep Lynch"s office here in my state, they got back to me with a phone number to call to find out what was going on with my attempt at a modification, before I could call the number, I got a notification in the mail from B of A telling me that I was in their 3 month trial period for a loan modification and I would hear from them within appox. 45 days one way or the other, My home was still listed for foreclosure to be auctioned off in Feb then it was changed to March, my 3 trial month payments were due Feb 2010, March 2010, and the final one April 2010!
How could they expect me to make the payments yet still foreclose?? I finally call the number that was given to me and posed the same question, this person got back to me and told me that the foreclosure had been cancelled, I also got a letter from the Attorney for the bank telling me this. So I have made my trial payments and here it is almost May 2010 and still haven't been told by B Of A whether or not I am going to get a permanent modification!!!
I called again and was told that it was "still in review" The last person I spoke to said"this has been in review for awhile I am going to send e-mails to management to find out what is going on" If they tell me I QUALIFYfor a loan modification and they tell me they have all of the paperwork from me that is needed, What is the hold-up? I owe them more than my home is worth at the present time(I'm underwater as they say) Another thing I don't understand with these banks, if they will tell you do do a "short sale" and sell it to someone else for less that you owe on it, why can't they let you have it for the same price they would get in a short sale which would certainly lower the monthly payment, I really believe after taking our tax money in a bailout and getting the help they needed they don't care about us!
I think that they should have to go before Congress with the names and locations of people they have helped under Obam's plan MHA( not their own modifications they offer people that have nothing to do with Obama's plan) to prove that they have truly helped people under the Presidents MHA guidelines, But oops, what am I thinking these banks are accountable to no one, least of all the taxpayers that have worked all their lives paying taxes so that theycould get help with our money!!!