When she fell behind on her payments in 2008, Countrywide Home Loans – under pressure from the Ohio Attorney General to offer loan modifications – lowered her interest rate and extended the loan term. Her payment went from $524 a month to $401 a month – which Cable said she paid.
But then Countrywide went out of business, and Bank of America bought its mortgages. Cable’s lawsuit says Bank of America told her the loan modification agreement was still in effect, but then initiated debt collection proceedings against her anyway.
I to have a Loan Modification with Bank of America.
This is the second one we signed as the bank stated the first one was in error, after we made 8 payments on it.
Now we find our Unpaid Principal Balance has actually increaded from our original note amount we mortgaged in 2007. Plus they charged us over $11,000 in interest which added to our Principal Balance. They have so many errors in our Loan History no one can figure it out.
Who is watching them?
i want to hire legal council to help me know what to do.. i feel behind on payments. my loan was 1st w/countrywide and should not have been given the loan in the 1st place. i have filed 4 times for loan modification.. the last time i was told over the phone that i was $30.00 short from being approved but they would not lower my 11.65% rate. only that they would add an additional amount on my payment from $1800. to $2500. a month. at that point they said i could leave the house.now i hear there is goverment loan help to make them forgive back amount and lower rates…??? which is what i had been asking for for almost 1-1/2 years…my credit ruined so that may stop me know. 330-289-7075
I too would love some legal advice as i cannot afford an attorney. My home was destroyed by hurricane Ike and we are living in my camper in the driveway. The insurance check was sent to Bank of America on 10/5/09 in the amount of $223,500.00, about 80% of the loan. It’s been more than seven months and they still have not put the money toward our mortgage. They have doubled my payment and sent me registered letters about foreclosure. I hate Bank of America with a passion and I hope they come to visit me and my crazy pit bull dog real soon.