Comments on: Bank Of America Defends Loan Modification Program

By: turntim

turntim — Mon, 10 Oct 2011 21:43:07 +0000

All posters, Please do not let BoA get under your skin. It’s easy to do, and will cost you your home. They do not need another home. I have been asking for a loan mod for 3 years, and been declined at least 10 times, all for stupid in-correct reasons. So, I had enough. I complained to the Comptroller of American Currency. BINGO!!! The CEOs office was in touch w/ me 3 days later, promissing a swift resolution. Yeh, right. Nothing changed. So I went looking for an attorney to sue the pants off them. I found out BoA put retainers with ALL major law firms years ago, in anticipation of this exact situation. I found a non-profit legal aid firm to sue the pants off them, and that is underway. By law, BoA HAS to modify your loan if you have income & live in the property. But you have to compel them to actually do it, by threat of a lawsuit. My goal is to force them to reduce the loan amount to my homes appraised value. They can stick the remainder of that loan where the sun won’t shine on it. It’s a long shot, but nothing else seems to get their attention.

By: S

Wed, 07 Sep 2011 19:15:48 +0000

I can relate to all of these posts…
-The runarounds.
-Not knowing which department you need to speak with.
-Getting one answer from one person and a different answer from another.
-Over the phone payments being run for the wrong amount, or not being accepted at all in the beginning.
-Being asked about a 401k (which I had already dipped into), family or friends who could help out (which I had none)…and I even had one employee suggest I take in a roommate. ?????
-Being asked to send in the same paperwork, over and over.
-Being denied a modification because BOA said they did not recieve the requested paperwork – paperwork that I did send-in prior to the expiration date and that I even received a letter in response stating they received the paperwork. (thank goodness I kept that one!)
-Receiving confusing letters that no one at BOA could explain or even find record of being sent to me.

The final straw was…receiving the following WITHIN 3 DAYS OF EACH OTHER:
1) A letter from BOA stating my deferment period had ended, and my loan was current and in good standing (I never applied for a deferrment and I was still in the modification “process”. I know I was not in good standing!)
2) A foreclosure letter from an attorney representing BOA
3) My APPROVED modification loan paperwork – after 11 months!!

The attorney that sent the foreclosure notice got an earful. But that office must have said something to BOA (they probably explained to BOA how they really screwed up on this one!), because 2 weeks later, I received a letter from BOA stating they had submitted a request to the credit agency correcting the foreclosure information on my credit bureau.

It’s been almost a year later and I KNOW I’m one of the lucky ones! My modification was approved and has made a enormous difference in my life. But it was not without frustration. And not without a big chunk of change being tacked onto the end of my loan. But “sticking it out” has allowed me to stay in my home, for which I am grateful.

I think the acquisition of Countrywide just overwhelmed BOA and they were ill-prepared to handle the volume of requests they received. And it’s clear overall employee training was non-existent. (Although, there was ONE woman I can recall clearly, who was helpful, knowledgable, and friendly – the one bright spot in the whole process.)

My advice to everyone dealing with BOA – keep records of EVERYTHING. Phone conversations, names, dates, times, letters, correspondance. Any little thing. Make note of it!

By: Bernice Townsend

Bernice Townsend — Wed, 17 Aug 2011 14:57:17 +0000

When is someone going to put a stop to Bank of America’s fraudulent loan modification process; they drag you along for months then years, having you submit endless amounts of paperwork every 30 days; just to be told you don’t qualify; then you’re asked do you want to reapply. Everyday you call in you’re asked the same question, what was the reason you fell behind; why do I have to answer this question every day; if I called BOA three times a day, I’d be asked the same question, well now I’m being told that if I could borrow money from someone or a 401K to do a repayment plan; why did you wait for so long to do a repayment when I could have been making payments all along; now you’ll take a high repayment of between $8-10K but would not allow me to make payments when my loan was only 30-60 days pass due. This is a scam. Now my home is up for foreclosure 11/1/11; but “I’m still under the review process” The boards of angry BOA mortgage holders is insane; everyone is being strung along by these fake loan modification applications only to be told they don’t qualify; why is BOA string customers along for over a year to tell them they don’t qualify; why is this practice even allowed?

By: MyNose

MyNose — Thu, 21 Jul 2011 18:20:28 +0000

All is still so true!!!! It isn’t about helping the citizens save their homes, its about helping the BOA’s of the world still! They get paid for every loan modification they process (deny or accept)! No one is going to change anything……

By: Angel

Angel — Sat, 21 May 2011 15:34:39 +0000

I comletely and utterly concur with everything everyone has commented on about the process BofA has made you beleive it was to help. My experience which sad but true mimics the exact same pathetic and poor customer service. What ever happend to the suppose world class service they deliver. All i have witness in the last 21/2 years with them is betrayal, back stabbing, habitual lies and absolute bias. From what I’ve learned the last thing banks want are floreclosures. Floreclosures will take them for ever to get rid off which in turn means more heasdeches for them; less profitibility. I as well have debated but may just do In leu of foreclosure. Take it and shove $#!!!!

By: Gale

Gale — Thu, 28 Apr 2011 16:06:41 +0000

They told us we were approved for a modification, and then several months later they told us that we were denied for not sending in paperwork. We sent the paperwork in at least 11 times! I am now making my regular payments, and was told by one person that they would put the amount that we owe them on the back of the loan, another person says they need the $5,000 now! Our situation has not changed we don’t make anymore money. I really wish I had never gotten involved with this bunch. They have no idea what they are doing. They are a JOKE! They also are charging late fees. I have never been late!!!!! IWe held up our “Good Faith” end of the deal, and they are screwing us over! I get furious when I think about it. One girl told us to rent a room out, and another one told me to pray about it. Who are they to tell me to do those things????

By: RW

RW — Wed, 20 Apr 2011 17:21:02 +0000

It’s funny, the one I read about the person (David) who was declined because they were late on one payment. When we filed for a loan modification, we were denied, and the paperwork said it was because we “never missed a payment.” So, it sounds like there is no way to actually get a modification with them…

By: EStone

EStone — Thu, 14 Apr 2011 01:11:36 +0000

800-669-0102 Keeps calling our home and we don’t even have a mortgage with Bank of America. I answered the phone and they gave me some names for people who I have never even heard of yesterday. I told them they had the wrong number and then the called our house again 4 times any way today while I was at work. When I tried to call back I was unable to speak to anyone because the automated service wanted an account number. I DON’T HAVE AN ACCOUNT NUMBER WITH THEM! It then told me to call back when I want to put in my account number. You have got to be kidding me.

By: michael walker

michael walker — Sat, 13 Nov 2010 06:37:15 +0000

Wow ! My dad took this folks for a joke ,now they got the hold world in a financial bond .they got the power too do what ever they want to me and yall who has a acount with the banks . I wish yall would show me a picture of who playing my I’d I like to have a few words with him up front left me for dead while he’s on a paris hilton shopping spree . If yall scard of them foward the pictures to me . I will deal with them , all by my self . Theves steeling walking around like they big and bad ! Cliaming they got power they have nothing ! And u can see that from my dad and his dead dads too . I can’t belive the cops let this happen ! How many people have killed them selfs cause they lost their house and jobs ,cause of all of this fraud ,they up on the top of the world saying do this and do that on a group of stolen companies 236 of them at that .569 million on a new building bank of america . Wow didn’t tell them to do that . That why 1500 jobs was cut , fraudulent investment deal .their was already towel up , from when my dad was living didn’t need any more ! Face me yall crook , say something back . The hold world waiting .funnie president . Runing all my stuff like u me , u me , come out and be me , somebody notice u didn’t have no power . That why u in a house being a punk .theft .stole my I’d and my companies I want to meet u , I been in hell for 11 year with out a dime while u living like the king of africa . U hilarious too me dude . The real michael grimes hunting u down . Fake michael grimes .I have u put so far in and under the jail u a think that day u was just born . Who and where is” walter williams” , I can’t belive u turn on my dad for this freakin crook .they stink , they so low down ,over at suntrust bank ,lady made a complant saying her accounts over draft 350. That all the lady had , suntrust is a 600 almost a year company we don’t need to steel or make fraudulent charges for folks accounts ,starting with evander holyfeild the boxer ! I’m sorry they hooked u but they hooked me too . And I’m the owner .

By: Mark

Mark — Tue, 28 Sep 2010 03:09:11 +0000

B of A aka BAC LLP continue to call from telephone numbers that require people that ARE NOT THEIR customer to enter a Social Security or continue to receive the harassing calls.

I vented here:
http://scumbags.stop-spam.org/debt.collectors/bac.php

I should edit it but not tonight, I am not, nor have I ever been a B of A customer nor am I or have I ever been with Country wide.

My telephone number was appended to a delinquent account based on me and their debtor having a similar name and for no other reason.

Put that in your article. This is NOT the first time either.

B of A are scumbags,

Mark