Comments on: Bank of America To Modify 630,000 Loans in 2009 To Avoid Foreclosures http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/ Real Estate Blog, Mortgage, and Development News Fri, 20 Nov 2009 23:48:48 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: CC http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-414790 CC Mon, 16 Nov 2009 00:12:42 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-414790 B of A has been horrible to me and my family. First, they took over Countrywide, took away my only source of business (I am a home loan consultant) and cut my pay in half. My income is now 1/10 of what it used to be when I fully qualified for my home loan (no reduced documentation). I applied for a loan mod in May 2009, can't get an answer from anyone at B of A and they scheduled a sale date of 12/26/09...THANK YOU B OF A for making it the day after Christmas and not communicating with me. When I call them, they state they don't even know about the sale date being scheduled? I am in school to become a nurse, working as a loan officer and only need the mod temporarily until I am a nurse in 12 months...no, they can't seem to get to me but they can help people who are receiving unemployment? Gosh...I can't stand B of A! B of A has been horrible to me and my family. First, they took over Countrywide, took away my only source of business (I am a home loan consultant) and cut my pay in half. My income is now 1/10 of what it used to be when I fully qualified for my home loan (no reduced documentation).

I applied for a loan mod in May 2009, can’t get an answer from anyone at B of A and they scheduled a sale date of 12/26/09…THANK YOU B OF A for making it the day after Christmas and not communicating with me. When I call them, they state they don’t even know about the sale date being scheduled? I am in school to become a nurse, working as a loan officer and only need the mod temporarily until I am a nurse in 12 months…no, they can’t seem to get to me but they can help people who are receiving unemployment? Gosh…I can’t stand B of A!

]]> By: Trying to help BoA customer http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-414681 Trying to help BoA customer Fri, 06 Nov 2009 15:04:26 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-414681 My cousin in Maryland going thru same thing as Jack Thomas. Have loan Mod Agreement from Countywide dated April 2009, mod pymts started in May 2009 & they have been paying. They just found out 1st week of November that BoA won't honor and "denied" approval and want them to pay huge amount, which I suppose is calculated based on previous payments and charges they have added,etc. My cousin is beside herself and barely able to function due to the stress and worry. I am going to try and call MD AG, MDHOPE and Md commissoner of financial regulation to see if I can help. This is crazy! if anyone has had any luck, please post contacts! My cousin in Maryland going thru same thing as Jack Thomas. Have loan Mod Agreement from Countywide dated April 2009, mod pymts started in May 2009 & they have been paying. They just found out 1st week of November that BoA won’t honor and “denied” approval and want them to pay huge amount, which I suppose is calculated based on previous payments and charges they have added,etc. My cousin is beside herself and barely able to function due to the stress and worry. I am going to try and call MD AG, MDHOPE and Md commissoner of financial regulation to see if I can help. This is crazy! if anyone has had any luck, please post contacts!

]]> By: Uel Brown http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-414322 Uel Brown Thu, 15 Oct 2009 04:31:53 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-414322 Anyone with FHA from Taylor Bean turn over to BofA in the middle of loan mod? BofA say they got no paper work on loan mod, but I do, BofA said have to start all over, but that I would not quafie because of income but yet Taylor Bean said I would, BofA said they did not get all the paper work I faxed them only the bank statement and the payments I made under the taylor bean agreement,whith were not credited, but the the letters from taylor saying they were makeing a mod to my loan they didnot get. What the hey no wonder the banks are maken a killing. HELP Anyone with FHA from Taylor Bean turn over to BofA in the middle of loan mod? BofA say they got no paper work on loan mod, but I do, BofA said have to start all over, but that I would not quafie because of income but yet Taylor Bean said I would, BofA said they did not get all the paper work I faxed them only the bank statement and the payments I made under the taylor bean agreement,whith were not credited, but the the letters from taylor saying they were makeing a mod to my loan they didnot get. What the hey no wonder the banks are maken a killing. HELP

]]> By: B of A Homeowner http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-414102 B of A Homeowner Tue, 06 Oct 2009 16:42:33 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-414102 We sent our information to the President of B of A in the Charlotte, NC office... barbara.j.desoer@bankofamerica.com We got a response within 48 hours and our mortgage amount can be reduced by $1200 per month including piti for 5 years because our income exceeds 31% of the PITI!! Send out emails to the following email addresses... some are working and some are not. good luck. 'nancy.m.condos@bankofamerica.com'; 'michelle.shepherd@bankofamerica.com'; 'bradford.r.dinsmore@bankofamerica.com'; 'steele.alphin@bankofamerica.com'; 'colleen.haggerty@bankofamerica.com'; 'britney.w.sheehan@bankofamerica.com'; 'nicole.nastacie@bankofamerica.com'; 'joe.price@bankofamerica.com'; 'keith.banks@bankofamerica.com'; 'michael.jones@bankofamerica.com'; 'brian.t.moynihan@bankofamerica.com'; 'amy.brinkley@bankofamerica.com'; 'ken.d.lewis@bankofamerica.com' We sent our information to the President of B of A in the Charlotte, NC office… barbara.j.desoer@bankofamerica.com We got a response within 48 hours and our mortgage amount can be reduced by $1200 per month including piti for 5 years because our income exceeds 31% of the PITI!! Send out emails to the following email addresses… some are working and some are not. good luck.
‘nancy.m.condos@bankofamerica.com’; ‘michelle.shepherd@bankofamerica.com’; ‘bradford.r.dinsmore@bankofamerica.com’; ’steele.alphin@bankofamerica.com’; ‘colleen.haggerty@bankofamerica.com’; ‘britney.w.sheehan@bankofamerica.com’; ‘nicole.nastacie@bankofamerica.com’; ‘joe.price@bankofamerica.com’; ‘keith.banks@bankofamerica.com’; ‘michael.jones@bankofamerica.com’; ‘brian.t.moynihan@bankofamerica.com’; ‘amy.brinkley@bankofamerica.com’; ‘ken.d.lewis@bankofamerica.com’

]]> By: Robert http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-413005 Robert Wed, 30 Sep 2009 22:44:38 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-413005 bofA is sooo sllooowww.. bofA is sooo sllooowww..

]]> By: Gwen http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-407298 Gwen Wed, 02 Sep 2009 17:44:28 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-407298 What a crock. We've been trying to get a modification since january when it was still Countrywide. We are now living on 35% of the income we had when we bought the house, after both of us losing our jobs. Only hubby is working now. We have been completely stonewalled. Calls are not returned. Faxes are not responded to. Snail mail is ignored. We've been through all of the steps, sending them all of the documentation required under the Obama plan. We've contacted our elected officials. BofA has even called us telling us first that they were going to reduce our payments for a 3-month period of time, and if we made those payments a modification would be granted. But we were never told what those new payments were to be, and nothing ever came in writing. We were told to check the website to see the current state of our modification request, but that had not been updated for 4 months. All it said was we had applied. Then we got a call telling us to just "resume making payments", which we cannot do since only one of us is working and our income is so much lower. Now we get a 5-day notice that we are unreachable and therefore our request is denied. We have documented call logs that show we only missed one call from BofA, and have returned that call over 15 times. All that happens is a voice mail, which goes unreturned. And yet WE are unreachable?? Is there a class action suit somewhere??? What a crock. We’ve been trying to get a modification since january when it was still Countrywide. We are now living on 35% of the income we had when we bought the house, after both of us losing our jobs. Only hubby is working now. We have been completely stonewalled. Calls are not returned. Faxes are not responded to. Snail mail is ignored. We’ve been through all of the steps, sending them all of the documentation required under the Obama plan. We’ve contacted our elected officials. BofA has even called us telling us first that they were going to reduce our payments for a 3-month period of time, and if we made those payments a modification would be granted. But we were never told what those new payments were to be, and nothing ever came in writing. We were told to check the website to see the current state of our modification request, but that had not been updated for 4 months. All it said was we had applied. Then we got a call telling us to just “resume making payments”, which we cannot do since only one of us is working and our income is so much lower. Now we get a 5-day notice that we are unreachable and therefore our request is denied. We have documented call logs that show we only missed one call from BofA, and have returned that call over 15 times. All that happens is a voice mail, which goes unreturned. And yet WE are unreachable??

Is there a class action suit somewhere???

]]> By: Dan Haskins http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-404937 Dan Haskins Sun, 23 Aug 2009 23:51:15 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-404937 Hello, My wife and I are Bank of America customers. We applied "by ourselves on the telephone", and within 60 days received a loan modification on our home. We had a fixed rate at 5.375%, and B of A reduced our rate to 3.25% for 5 years, then back to 5.375% for the remaining 25 years. Our original loan also had a fixed for 10 year clause, then it went adjustable. B of A changed our loan to a std. fixed rate mortgage for the entire life of the loan. For the next five years beginning this October, we will save $560 per month, which adds up to $33,600. B of A has worked very well with us. Our loan analyst Monica, has been great. You do not need an attorney to get your loan modified. You can do it yourself, just be nice, and be patient, as they are very busy and overloaded with requests. Thank You Bank of America for working with us to keep our home. Dan & Carol Haskins Calimesa, California Hello,

My wife and I are Bank of America customers. We applied “by ourselves on the telephone”, and within 60 days received a loan modification on our home. We had a fixed rate at 5.375%, and B of A reduced our rate to 3.25% for 5 years, then back to 5.375% for the remaining 25 years.
Our original loan also had a fixed for 10 year clause, then it went adjustable. B of A changed our loan to a std. fixed rate mortgage for the entire life of the loan. For the next five years beginning this October, we will save $560 per month, which adds up to $33,600.

B of A has worked very well with us. Our loan analyst Monica, has been great. You do not need an attorney to get your loan modified. You can do it yourself, just be nice, and be patient, as they are very busy and overloaded with requests.

Thank You Bank of America for working with us to keep our home.

Dan & Carol Haskins
Calimesa, California

]]> By: CW has outdone themselves this time... - Page 3 - Loan Modification Forum - LoanSafe.org http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-400162 CW has outdone themselves this time... - Page 3 - Loan Modification Forum - LoanSafe.org Sat, 08 Aug 2009 17:38:11 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-400162 [...] with info on an Ohio guy who has the same problem too. His post and mine are also at this link: "Bank of America To Modify 630,000 Loans in 2009 To Avoid Foreclosures : The Real Estate Bloggers" (my comment follows his comment). We both have attorneys working this. It may become a class [...] [...] with info on an Ohio guy who has the same problem too. His post and mine are also at this link: “Bank of America To Modify 630,000 Loans in 2009 To Avoid Foreclosures : The Real Estate Bloggers” (my comment follows his comment). We both have attorneys working this. It may become a class [...]

]]> By: Judy http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-400118 Judy Sat, 08 Aug 2009 11:59:02 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-400118 I have already talked to Jack Thomas. My story is a near duplicate of his. Loan mod package/CONTRACT that is one of the California Attorney General stream-lined modifications, the letter with the modification CONTRACT states you need only submit verification of income, that the modification CONTRACT must be NOTARIZED, and that the package must be returned by 30 days from the date they typed up the letter/package. You follow their instructions to the LETTER, you get verbal confirmation that the package is processed and that they verified it is complete. You keep calling them and they keep giving assurances. Then you find out they just did not finish the processing. No valid reason is presented. The modification CONTRACT package spelled out that if you agreed and followed the instructions, THEY WOULD MODIFY THE LOAN. There was no 'out' ANYWHERE in the offered CONTRACT that allowed CW/BofA to 'rethink' the offer. There is NO truth in lending letter sent telling you of your options - they don't do that since there is no REASON that they can use to justify what they have failed to do!!!!! Worker-bees have said they could get this 'fixed' but then the call is abruptly disconnected just when the worker tries to check with a supervisor and if you can ever get a message from the worker, you find that he was told by a supervisor "don't get involved". What is that stench? Bloated rotting pork or decaying tarp? (TARP should be the name for a subspecies of a fish called carp. What the banks are doing with TARP is definitely FISHY.) They are trying to bluff their way thru this and make like the CONTRACT does not EXIST. If you have one of these contracts, they CAN be enforced. BofA/CW just does not want you to know it. Also, if you contact any of the 'boiler-room loan-mod for cash' peddlers, they will try to convince you that the better method is to start fresh with them. Well, sometimes the lender has put a roadblock in place by selling the note to a private investor during this skirmish. If that has happened, that boiler-room attempt to do a mod WILL NOT succeed. You are better off to force the mod contract that you already have to be honored. Jack is correct, the only way to get these honored is to file suit. My attorney's letters are being ignored. I'm definitely filing a complaint with my 'Uncle' Jerry Brown, the AG in my state of California who negotiated the settlement under which my mod CONTRACT was generated. BofA/CW, you want the AG suing you AGAIN too? And I just bet other AGs would follow suit just like last time. I happen to indirectly know of another of these CONTRACTS that is not being honored. Given my small network of friends, this is a problem that may have been perpetrated on a far larger group that is first realized. I have already talked to Jack Thomas. My story is a near duplicate of his. Loan mod package/CONTRACT that is one of the California Attorney General stream-lined modifications, the letter with the modification CONTRACT states you need only submit verification of income, that the modification CONTRACT must be NOTARIZED, and that the package must be returned by 30 days from the date they typed up the letter/package.

You follow their instructions to the LETTER, you get verbal confirmation that the package is processed and that they verified it is complete. You keep calling them and they keep giving assurances. Then you find out they just did not finish the processing. No valid reason is presented. The modification CONTRACT package spelled out that if you agreed and followed the instructions, THEY WOULD MODIFY THE LOAN. There was no ‘out’ ANYWHERE in the offered CONTRACT that allowed CW/BofA to ‘rethink’ the offer. There is NO truth in lending letter sent telling you of your options – they don’t do that since there is no REASON that they can use to justify what they have failed to do!!!!!

Worker-bees have said they could get this ‘fixed’ but then the call is abruptly disconnected just when the worker tries to check with a supervisor and if you can ever get a message from the worker, you find that he was told by a supervisor “don’t get involved”. What is that stench? Bloated rotting pork or decaying tarp? (TARP should be the name for a subspecies of a fish called carp. What the banks are doing with TARP is definitely FISHY.)

They are trying to bluff their way thru this and make like the CONTRACT does not EXIST.

If you have one of these contracts, they CAN be enforced. BofA/CW just does not want you to know it.

Also, if you contact any of the ‘boiler-room loan-mod for cash’ peddlers, they will try to convince you that the better method is to start fresh with them. Well, sometimes the lender has put a roadblock in place by selling the note to a private investor during this skirmish. If that has happened, that boiler-room attempt to do a mod WILL NOT succeed.

You are better off to force the mod contract that you already have to be honored.

Jack is correct, the only way to get these honored is to file suit. My attorney’s letters are being ignored.

I’m definitely filing a complaint with my ‘Uncle’ Jerry Brown, the AG in my state of California who negotiated the settlement under which my mod CONTRACT was generated.

BofA/CW, you want the AG suing you AGAIN too? And I just bet other AGs would follow suit just like last time.

I happen to indirectly know of another of these CONTRACTS that is not being honored. Given my small network of friends, this is a problem that may have been perpetrated on a far larger group that is first realized.

]]> By: Jack Thomas http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/comment-page-1/#comment-395074 Jack Thomas Thu, 16 Jul 2009 01:28:13 +0000 http://www.therealestatebloggers.com/2009/01/16/bank-of-america-to-modify-630000-loans-in-2009-to-avoid-foreclosures/#comment-395074 Talk is cheap, actions are what speak louder than words. Bank of America has stonewalled and stymied all attempts for us to get them to honor a loan modification that we were approved for and now we are in the position where we need to file a lawsuit against Bank of America to get them to honor a contract they sent to us!! If you were initially approved by Countrywide Home Loans for loan modification in the last 12 months, only to have them reject your modification please contact Jack Thomas (lead plaintiff) at 513-899-3478 for a potential class-action lawsuit against Bank of America Talk is cheap, actions are what speak louder than words. Bank of America has stonewalled and stymied all attempts for us to get them to honor a loan modification that we were approved for and now we are in the position where we need to file a lawsuit against Bank of America to get them to honor a contract they sent to us!!

If you were initially approved by Countrywide Home Loans for loan modification in the last 12 months, only to have them reject your modification please contact Jack Thomas (lead plaintiff) at 513-899-3478 for a potential class-action lawsuit against Bank of America

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