Menu
Login
I am writing to make a complaint against Countrywide Home Loans, and the Bank of America, its owner. Countrywide is using a number of ploys to delay and avoid helping people in regard to the implementing the recently-announced federal program to assist its customers that need help.
Immediately on the announcement of this plan, I went to the Countrywide website which instructed me to collect and fax a list of information, which I did. That was in mid-March. I called a few days later to confirm that they had received my information. They confirmed its receipt, but when I asked about this new program, the Countrywide agent told me the only program they have to assist homeowners is for people with loans through Freddie Mac and Fanny Mae, which my loan is not. I told them that they were mistaken, there are two programs that were simultaneously announced, the Home Affordable Refinance Program, which is the program for Freddy Mac and Fanny Mae borrowers, and the Home Affordable Modification Program, which is for other borrowers. They told me that I was wrong. There is only one program, and they had no program to help me. When I tried to convince them that they were incorrect and giving their customers the wrong information, they hung up on me.
I have called them at least once a week since then, and have made no progress whatsoever—not only in regard to getting a modification, but even in getting someone who will rationally talk to me about doing so. All they do is demand immediate payment, which, of course, is impossible. If I had the money to made the payments, I would certainly do so and wouldn’t be calling them asking for assistance.
Last week when I called, after having been told the same story that there is no program available to help me, I requested to speak to a supervisor. After explaining this whole situation to her, I asked her to validate their receipt of my information. She said, yes, it was received on March 19th but no action has been taken on it. I asked why not. She had no answer, but just said no action had been taken. “It hasn’t been submitted yet.” I asked her to please submit it—I thought I was submitting it when I followed the instructions to collect and fax the information. She said she would request that it be submitted.
Today (April 21), I called, and got a different story. Yes, they have got my information, but there was no indication of its having been submitted. No, they don’t have a program available to help me. Regarding the federal program announced last month, they told me that the government hasn’t released the information to them to implement any such program. They told me to wait until mid-May when they might be able to start the program. Finally, they told me to call HUD. That was it. They have done nothing else to aid me in gaining the assistance that I desperately need.
I went to the United States Treasury website, and found the “Summary of Guidelines” document, which is dated March 4, 2009. In specific regard to the Home Affordable Modification Program, this guideline document states, “With the information now available, servicers can begin immediately to modify eligible mortgages under the modification program so that at-risk borrowers can better afford their payments.” (This text is boldfaced in the document.)
Thus, according to the U.S. Department of the Treasury, mortgage loan servicers could immediately be implementing modification program as of March 4, 2009. However, according to Countrywide, they have not received the guidelines to implement any such program, are not offering any program currently, and don’t know when they might be able to implement such a program. They told me to check back in mid-May. The approach that Countrywide-Bank of America, in regard to me and my case, has been to lie to me, mislead me, and postpone undertaking positive action until I am so far behind that nothing can save me.
In my most recent call (week of May 11-15), the response of Countrywide-Bank of America now is to tell the customer to wait. The telephone representative (you have to speak to a different one each time you call) said that Countrywide was determining who qualified for the program (although they are still steadfastly refusing to admit the existence of the non-Fannie Mae/Freddie Mac “Home Affordable Modification Program”), and that they will mail out notifications to those who qualify. Their advice to me was, “Wait to see if you get a notification letter.” To the question, “How long might that take? How long will I have to wait?” There is no answer. “Just wait to see if you get a letter.” This is very like their advice to homeowners when they embark on the Countrywide internal modification program: “Don’t make any payments while this process is underway.” What they don’t tell you is that the process can take as much as three or four months—time enough without making payments (as you are advised) to become significantly behind in mortgage payments and past the 3-month threshold for qualification for foreclosure. Thus, the obvious plan by Countrywide-Bank of America is to cause the homeowner to fall so far behind in their payments as to make the situation insolvable—government plan or no government plan.
If the President, the Secretary of the Treasury, Senators and Representatives believe that this program they have originated is helping anyone out there who is a customer of Countrywide-Bank of America, they are sadly mistaken. These, hopefully, well-intentioned public officials are living in a dream world if they think that by placing the administration of this program in the hands of the very lenders who created the problem in the first place something significant is going to be done to help endangered homeowners, they are willingly fooling themselves. They have put the fox in charge of the chickens, and the chickens are disappearing, one by one. I wonder why?
The Bank of America, during the first tranche of the infamous $700 billion "bailout plan, " got $20 billion, which they apparently invested in their buyout of Merrill Lynch and bonuses for Merrill executives. Now, when not only have they received significant federal government money, supposedly to assist them in freeing up the credit markets, and now have available an additional federal program to assist needy homeowners, they are refusing to do so. I have talked to a few other people that I know how are also having financial problems and mortgages with Countrywide, and they are also getting nothing but refusals and postponements. It is impossible to find someone to rationally discuss one's financial problems with at Countrywide as they refuse to do so. Their response is nothing but to insist on immediately bringing accounts up to date or paying off the loan. There is a serious abrogation of responsibility involved here by a company that has taken federal money but refuses to assist taxpayers who are their customers. I have read that the CEO of Bank of America has now admitted that he is sorry that his firm took the money--probably most of all because, subsequently, he has come to realize that responsibility would be expected of them in return, and that they would be expected to do something for their customers. The Bank of America-Countrywide should be prosecuted for taking money under false pretenses.
I am seeking information from you regarding Countrywide. I would like to contact other Countrywide customers who have been having similar problems to get them to join with me in contacting our members of Congress, the President, and Secretary of the Treasury, to inform them of Countrywide-Bank of America's abuses of the use of federal funds, the public trust, and their customers.
The complaint has been investigated and resolved to the customer’s satisfaction.
http://www.helpwithmybank.gov/complaints/index.html
You need to go to this site to file a complaint for a national bank. I encourage EVERYONE to do it and pass along the information. Nice to share stories here, but ACTION is what is needed!
Has anyone contacted an attorney about these issues we are discussing? I am at the point I want to speak to someone today and rally up a group of Countrywide-BAC customers who are having the same issue. Who do I contact here on this site? What government official do I contact? Thanks.
Would this be a class action lawsuit? I have been having the same problems since October 2009. I am on the phone AGAIN with BAC and STILL have not received any "paperwork" for a loan modification.
Hey I have one for the record books on these idiots. First and foremost, I owe the money it is my responsibility. That said I have no job now and have not for almost a year. Here is the rub. I tried several times for a loan modifications and was met with a mountain of challenges with the final one a reduction of $30.00 on a $1200.00 payment. I then approached the Devil (otherwise known as Bank of America) and asked about a Deed in Lieu to make the whole thing less painful for all parties and less expensive for the bank. In July of 09 a major storm hit the area and the home received damage. I, as requested by the bank sent the insurance for damages to the bank and they received it in august. I was told in order to do a deed in lieu that the home needed to be listed by a realtor for at least 90 days...This is where it gets really interesting! As the last days ticked off the clock to qualify I contacted the bank to tell them I was ready to move forward with the deed in lieu transaction. They told me they would be in touch and would contact me within 30 days. THEY DID CONTACT ME BY LETTER to inform me that I DID NOT QUALIFY for the program as there was un-repaired damage to the home... ARE you KIDDING ME? I had already sent bids on getting the work done submitted the information which they had for several months, I made untold phone calls asking when the work was going to start and nothing was done. UNBELIEVABLE what a bunch of clowns. I finally had to contact the division of banking and finance to get any movement on the issue...Still not completed. Thanks MR. President great programs you have out there.
do not feel bad folks, I paid my note on time and with extra each month! I also put over 20% down and have in the last 5 years paid back more than 60% of what I borrowed. I keep getting offers from them to refinance (at a higher fixed rate ) my ARM. but see they have somehow reported my HELOC as unsecured revolving debt translation credit card debt. but since I can not acess any of the extra I paid on my loan how can this be? my score when I bought the house was 819-823 today about 200 lower. found this out when tried to get insurance on my fledgling business and was told with this low score I am a high risk and will have to be put into a pool...
so see they are not just screwing those of you that are in over their heads they do people that did everything right too
My husband and I are having the same problems with Countrywide. Our house is in foreclosure now and will be official at the end of March 2010. I called Countrywide, wrote, emailed and was told each time that there was nothing they could do for us. All I wanted was to extend my loan so we could afford the payments. My husband and I had lost jobs and we were very upfront with Countrywide hoping they would help us keep our home. The first phone call was to inform them we were going to be late on our November 2008 payment due to change in income and loss of employment and we were told, it would be better for us if we waited until we were several months behind and then call back. The next call we were told we had to submit income information. They had us making $13000.00/month with debt of only $6000.00. That was completely wrong informationg. If we were making that much why would we be calling them? I sent all of the info they requested and then was told our debt to income ratio was too bad there was nothing they could do for us. I asked them if they would rather have the house than help us keep it. I received no answer. Since all of this my husband and I had to file bankruptcy and the house will be foreclosed on in less than a month. Countrywide, shame on you for taking away the American dream and leaving my husband, children and I homeless! We were very fortunate to find a place to rent but we should have been able to work with Countrywide Home Loans and still be living in our home. Now the chances of a bank being willing to work with us is slim to none. We may never have a home of our own again. This whole process has been very difficult on my family and I feel we should all have retribution. We deserve a home of our own.
I found helpful info online, for free, from a lawyer that has beat the bank at foreclosure.
http://www.youtube.com/watch?v=F9L4eRaIxLQ&feature=related
http://livinglies.wordpress.com/2009/11/23/lawyers-foreclosure-defense-of-quiet-title-faces-tests/
http://www.livinglies-store.com/testimonials.html
Here is what I have found that may help others. STAY IN YOUR HOME until a law enforcement serves you papers. Also look up PRODUCE THE NOTE this has helped a lot of people. We stayed in our home and they CountryWide or "BANK OF AMERICA" made the mistake of sending out property management company and they broke into our home and destroyed it looking for money. They then locked us out with their own padlocks. Now I have an attorney that assures me that what they did is against the law and I have all kinds of proof showing that they did it and tried to offer me $1, 000.00 to drop all charges. Yeah right! I will be laughing all the way to the bank now. They never followed procedure in a foreclosing. They skipped many steps and this one they can't deny. STAY IN YOUR HOMES until you are served by the law.
Same situation here. BoA is dirty and using all kinds of tactics to ruin us and take our home. Our Homeowners insurance was suddenly canceled, and no valid reason was given. BoA notified us that we were in some kind of default for lack of insurance within days, though we had already switched to a new coverage provider. BoA also requested our property tax bill be sent to them from the county, though it is not part of our mortgage agreement and we pay it separately.
We were told by BoA that we could not get into their renegotiation program unless we stopped paying our mortgage, and now they are foreclosing. We have tried every option to negotiate with them, and feel our last and only option is to join or start a class action lawsuit. Can anybody tell us how to get that started?
These comments scare me. I was told tonight by a BOA employee to "Not make a payment until you hear back from us in 45 days". I told him I didnt feel comfortable doing that. I have 3 kids and did not want them coming home from school one day with a Forclosure sign on the lawn. He said "Listen to me. You can not make a payment or you will not get the assistance." I told him what proof would I even have of the advice. I said "I dont even know you and I only have your word". He said he would give me his name and ID#. I said OK. My guess is this guy was not even in the USA he had a heavy accent. He said his name is BOB. I got his ID# and a phone number with extention. I just dont feel right about not paying. We are already behind on our prop taxes, which BOA took over and are not charging us $500 more per month. We have continued paying our original morgage payments minus the extra. BOA sent us a letter to pay by 02/19 or they will start forclosure proceedings. We will have this money due to getting Fed taxes back, but now BOB is telling us not to pay?
Can i cancel my trial period?
This is bull**** all this storys sound exactly like mine. Im contacting an attorny tomorrow.
Every one dealing with B of A all know, they are frauds, taking federal funds, and not helping people in need, on which the funds were to be addressed to, "us" the customer!
We all need to write are stories, gather the information and sub mitt it togeather. Who would like to start this, I am ready to fight these ###. llwienecke@comcast.net
Mike and Lori (B of A Making homes more affordable)
Tdogg- I am in the same boat as you - I contacted B of A 5 months after my loan modification went through - I had it approved and documents notarized and sent them a f... check for $2520 and I called them initially regarding a different a matter and the ### who answered in customer ### ### service said that my loan modification had been denied and they were looking into another program... I asked then why wasn't I notified ? and where is my money? she said she showed no record of my negotiator's name and then she asked "YOU sent a cashiers check"? I have no Idea what to do but I am with the guy with the first comment/complaint on this page.
my email is selbyc@emwd.org
somethings got to be done !
I started the Loan process about a year ago and finally in september 2009 I recieved a letter that stated to make a trial loan payment as soon as possible so I could start my "trial period." I borrowed the money from a friend and made the payment right away because at the new trial amount I would be able to catch up on things the following month and could soon pay my friend back. About three days after I recieved this letter, I got the so-called "packet." In the packet it stated that my 3 month trial period payments would begin Novemember 1st. I had already made the payment in september so I called to ask what I was supposed to do, if I was suppose to make a trial payment for October or not. The representative told me to follow the instruction in the packet and make the payments along with the stubs included in the packet, which were for Nov. 1st, December 1st, and jan. 1st. If I had sent the first trial period payment for the month of Novemeber already, that was great, now my next payment would be due in December. I thought great! I can actually pay my friend back the loan for the first trial period payment and make the payment myself in December. So that's what I did. I made each payment according to what the packet indicated. However, I got a fed ex this week stating that I was late on my January trial payment and that I would be disqualified if I didn't make the payment within 30 days or January 31st (today is Jan 28), whichever was later. I looked at everythin and they definitely cashed the check for January. So I called BOA to see what was going on. At first, the rep told me that it looked like everything was fine and that the letter must be a mistake because they are computer generated and the payment probably had not posted when it was generated. I asked him if he was certain because I didn't want to lose my home over some misunderstanding or discrepancy. I went on and explained to him when each payment was made and what the previous rep had told me. Then he told me he need to look into it further and to hold on. When he got back on the line, he told me I'd better come up with the payments for January and February and that he had no idea why someone would tell me to skip a payment. I asked him to put me in touch with someone who could help me resolve this matter and he just didn't know. Eventually he ended up giving me two numbers and when I called those placed they had nothing to do with what I needed help with. I Called the hoome retention dept. and since it was a matter having to do with payments they wanted to transfer me back to the first place I called. Finally I found another number in my paperwork. It was for the "loan negotiator." I asked for him but the rep that anwsered told me that I probably would never be able to get in contact with him because all the negotiators are extremely busy. I told her what was the point of having a loan negotiator if you couldn't talk to him and she said she appologized but there was really no way of getting to him. Eventually as I told her what I thought of this situation and their lack of organization she got mad and defensive. She told me that even if someone told me not to make a payment, I should know that I have to make my mortgage payments each month. She said she understood that I was having financial difficulties but even if I could not make a trial payment I should have made a payment (why would I and could I make a higher payment? Isn't that why I'm going through this process in the 1st place?). She said, "Don't you know that if you have a mortgage you have to make monthly payments?" I told her that of course I did, but that I wasn't sure how the program worked and that's why I called BOA to ask someone. Now I'm being penailized for missinformation from incompetent reps. She didn't care, she kept blaming me. It was ridiculous. Why would I purposely skip a payment that I know could cause me my home? I guess that's BOA and you can't trust anything they say. Finally, she said that she would reference the matter to a supervisior, but that there was probably nothing they could do if I couldn't come up with the necessary funds. They are not helping needy families.
I AM ALSO GETTING THE SAME THING, AND MY MORTGAGE IS 69% OF MY INCOME, SINCE MY PAY WAS REDUCED...
Marilyn K Dorlac
21919 Sherman Way PMB 153
Canoga Park, CA. [protected]
Re: Abuse by Country Wide Home Loans, and Bank of America Home Loans Bank
(Refusal to correct my loan on my present home loan).
1-9-2010
(URGENT Media Attention Please call me now I have info.)
Yes I am very happy to see that I am not alone in this thing. For months now I have been led by my attorney, Countrywide Home Loans, Bank, and Bank of America, telling me lie after lie, after lie. Basically stalling techniques to hold off the money given to them to fix my home loan problem. As I told them before this is abuse and I am sick and tire of this. I will not give up without a fight. I am very grate and elated to write to my congress leaders and to let them know what is really going on. Here we are in the new year and Bank of America is along with Country Wide Home Loans is still playing games and abusing their desperate clients who are trying to live the American dream. This is sick. Yes I have been waiting and waiting but now I must either just sue the ### or go to my back up plan.
This makes me so sick that they just can't end this nightmare and take the money and do what is right. What do they want? I just want these jerks to know that I am not going to just sit here and take this, I am now planing to pull out my big guns... I will continue to do what ever it takes to keep my home, even if it means going to the media. This is just plain abuse and humiliating. I have been saving my money to pay my bill, give me an affordable payment other than the $4, 500.00 initially proposed to me. The money is there lets make a deal to fix this problem once and for all. It has been over 90 days since my attorneys said that they would fix my loan. Now a few weeks ago December 1, 2010, got a letter saying that they did not get the information in time and could I please send it to them immediately. I have an attorney already dealing with bank of America, so why are they wanting me to deal with them? The answer is only logical why they want me to deal with them. I will not deal with them myself. I am waiting for them to fix my loan. I have sent in check my canceled check stubs of my new job since 2009 showing them that I am a full time 24 hr care taker. I am able to make my new payment if they just do their job and fix this . But no they still have to be jerks about this. I am getting ready to sue some one now, this has gone on to to long.
Yes I will be willing to join hands across America and contact Congress and let Congress know that Bank of America and Countrywide is not doing their job to fix my loan and others despite getting the bail out money!
Please contact me to sign the letter to be presented to Congress: My mailing address is
Marilyn K. Dorlac/Concerned American Citizen, USA
21919 Sherman Way PMB 153
Canoga Park, CA. [protected]
Contact me here: email address> native_amazon@usa.com
I can basically copy and past these EXACT complaints concerning Countrywide/Bank of America. One thing I didn't see mentioned is that, and of course they didn't disclose this either, is that the loan modification payments during your "trial period" affect your credit rating just as if you didn't make a payment at all! So now, although we've been making the exact payments required on time, our credit score has been going down by leaps and bounds. They said, "We since you're in default..." I said, "What! I've NEVER been late with a house payment!" To which they said I was thousands of dollars in payments behind and now didn't qualify for the modifiation. However, it was there counsel that put us in default! I'm just devistated. Without good credit... After hours upon hours of phone calls, the bottom line is they really don't care at all and the only people really affected our the customers. Only now, with bad credit, who will give us another loan so we can get away from them?
Sincerley,
Lissa Ownbey
BANK OF AMERICA WON'T TAKE MY MONEY!
I was previously a Countrywide customer, but my loan was sold to BOA during the summer of 2009. Months ago, I had called Countrywide/BOA(Bank of America) to inquire about the loan modification program. I was told I didn’t qualify because I was not behind in my mortgage After I had experienced some financial hardships and ultimately fell behind in my mortgage, I called BOA to inquire about the loan modification program again. BOA advised me that I did not qualify. When I asked why I didn’t qualify, the woman on the phone told me she didn’t know why. I called another time, hoping that I would get someone on the line that could give me some answers. I gave the woman my updated financial information (I had just started working a new job with more income). She told me I didn’t qualify. When I asked why, I was told their system simply said it “was not recommended”.
My house is now in foreclosure. I received a letter stating BOA’s intent to accelerate. I called BOA to try and work something out. I finally was able to find a way to pay the back payments to get my house out of foreclosure. I called BOA on 12/07/09 and asked them what amount is needed to reinstate my loan. I was told they had to order that information and I could call back in 7-10 days and they would give that amount to me. I have made numerous calls to BOA since 12/07/09 to get the reinstatement amount (payments and late fees due plus attorney fees). I was told by a couple different BOA employees that I needed to contact the attorney’s office. I called the attorney’s office and was advised that I had to call BOA to get that information. The attorney’s office also told me that BOA gave them strict instructions to NOT give that information out to BOA customers. Every time I call BOA, I explain that I have thousands of dollars I want to give them. They fail to respond.
I recently called BOA and insisted on speaking to a supervisor. I have talked to two supervisors in the Home Retention Department on two different occasions. Today, 01/05/10, when I spoke with a supervisor, he advised me that BOA still doesn’t have my reinstatement amount. I told him it has been almost one month since I originally requested that information and it has been requested numerous times since. He argued with me that it has not been a month since I requested the reinstatement amount. I asked to talk to his supervisor and he refused. I asked again to talk to his supervisor and he told me his supervisor was not available. I then asked to talk to his supervisor’s supervisor. He replied with “You are being unreasonable”. What is unreasonable is the amount of time BOA is taking to get me a reinstatement amount. I have the money to pay BOA to get my house out of foreclosure and NOBODY can tell me how much I need to pay! BOA and their Home Retention Department failed miserably at resolving this matter. In the mean time, as I wait for them to tell me how much I need to pay to reinstate my loan, my credit rating plummets.
Is there anyone else who is experiencing this? Any suggestions would be greatly appreciated! mardierh at yahoo
I was laid off back in April of 2009. I was proactive with BoA however they were of little help and continued to give me the runaround. They went back & forth in telling me I either was or was not qualified for a home modification loan. Apparently you need a source of income to qualify for a home modification. Of course the problem was that I was laid off with no source of income (unemployment did not qualify). After going back and forth with them over a month they verbally conceded on 6/27 into allowing me to pay 1/2 ($857.26) of my mortgage which I could meet, while my application for a home modification was under review. I’ve been making these 1/2 payments all the way up through November at which time I found a job. I’m working full time now. Whew!
The battle I’m currently facing is that through the 1/2 payment process, they damaged my credit and assessed late fees. BoA dragged their feet, until the end of June. In June when they gave me the 1/2 payment option, they informed me I was still under review and did not mention any potential penalities. I continued to be under review, up until November. I was under review for 5+ months! In November I called them to inform them I found a job. Shortly thereafter they rejected my home modification application, because I informed them I have a job. I am now current on my mortgage and am awaiting a verdict from BOA customer service on the late fees($111.32 – not really a big deal). Unfortunately the more important problem is that I have a damaged credit rating, that they certainly did not inform me would happen when they provided me with the 1/2 payment option over the phone. Unfortunately they also did not send me any paperwork, however they do have it recorded in their notes under my file.
What I strongly believed happened, is that BOA places individuals on an elongated evaluation period, damages the applicant’s credit rating, this extends the review process causing further damage, then when the applicant finds a job – Home Modification Denied.
I think they’re exploiting a loophole and I’m at a loss of what to do next.
I've also tried to call their infamous [protected] home modification # and for the past 2 days automatically get "No Agents are available at this time" message. Make me wonder if they flagged my # and are now refusing to speak with me.
-Mark
navsupport at gmail
If anyone has a job I suggest you go to another institution like a credit union and refinance. Forget BoA and MHA loan mods. BoA has no intention of modifying anyones loan. The longer they keep giving you the run around, no documentation on their end, etc... the better off they are at being able to foreclose on your home and get out from under the loan. I NEVER Signed the forged looking MHA docs that BoA sent me but they put me in the program anyway because they "Assumed" I would sign them and send them back. Isn't it illegal to change the terms of a loan without your approval? Anyway I just continue to send in my full payment and on time. I am still unemployed but will continue as long as I can. So guess what? BoA took my 11/30/09 payment for Dec mortgage and put it in "Partial Payments". I called and asked them about it and they just hung up on me after saying no one is available to talk to me. Then I send in my Jan payment on 12/29/09. They post this as a payment for Dec, charge me a late fee and then report to the credit bureaus I am 30 days late. I have a credit rating of 800+, never been late on anything and still not. My only crime: UNEMPLOYED. BoA is committing fraud and needs to be stopped. I finally went to my local branch today and they got someone on the phone who said they have submitted changes to post my payments correctly and reverse the 30 day late note on my credit reports...YEAH RIGHT I"m sure they got right on this. Also, I have to fax them a letter saying I want out of the MHA Program I never signed up for in the first place? Fax number was bogus. tried to fax it 10 times an hour ago. I need to focus my energy on a job search not fighting this BoA crap. I'm so stressed that physically I am hurting and beat down. WE NEED A CLASS ACTION LAWSUIT ... Why isn't the govt' monitoring this?
Oh my God I am having the same problem with BOA, they told me that my loan would be modified in August and I havent received any thing yet there is some lady named Jenny Palmer that in charge of my documents who never responds to calls or email, she doesn't call back and no one else in the loan modification department can ever help is there help for us or what?
The only way B of A (and others) will truly help anyone is to be forced by Congress to do so. Oh wait a minute, that won't happen because many of them are concerned only with protecting the financial sector. Plain and simple folks. It business as usual, profits ahead of people. Our so-called leaders in Washington care only about their own interests, not ours. Politicians make me sick!
Sorry 4 million eligible nationwide. All lenders have only completed 1700 Making Home Affordable Modifications, although today I heard the number was lower, around 1, 000. B of A being the worst of the bunch.
aeqwer
Oh I know all about BOA. I have been working on both my loan mods for about 8 months. I was denied my first loan 2 weeks after I sent in the paper work in August yet BOA failed to notify me. In fact when I called multiple times, they never mentioned that I was denied. After a representative slipped up and mention it I started to question. After being transfered 9 times and an hour and half on the phone I was told I was denied my first loan modification because my debt income ration was to high. I have to much debt (remind you that 87% of that is my mortgage) and if I loan mod then my payments would increase. I asked them about that and said i was applying for the presidents plan but my acorn (i know, i know, it was free) councilor did not put it under that. That date where the slip was on November 4. A full two months of not telling me that my loan mod was denied.
My second loan was under their "trial period" where I had a reduction of payments for 3 months. I was to pay the reduced amount and then determine if I was denied. I called BOA a few times to ask why my payments were going to a partial account and late charges were occurring. They said that it was normal and all would be cleared once the loan mod goes through. Well as of Nov. 24th they denied my loan mod and since my loan mod was denied I now have to pay the past payments of the trial period. Meaning that all my payments go back to normal price for the last three months and that the reduction amount was to be applied to my previous months because all went back to the normal payment... HUH? So now I have to pay my December payment again because they took the last payment and applied it to my previous balance that occurred because my loan mod was denied.
I had to hire someone to do a loan modification and I am hoping they will be able to do it. Acorn was no help, BOA is a joke and honestly this is only part of the crap that they have put me through. I am so over them and they try and say they are there to help yet say that I am denied. ... scam... cough
You cannot get your "income as low as possible" . they require tax returns and paystubs. I don't know who your reliable source is, but, out of 4 million applications only 1700 have obtained modifications.
I have been told by a reputable source that BofA wants to see future affordability for loan modification applications. This means they are looking for people who can make the payment, but a stretching or having moderate difficulty making it. Not, someone who is broke, has no money, or in unemployed. These will just foreclose or sell. Many people try to get their income as low as possible on modification applications, not a good idea.
i just found this site and am grateful to hear i'm not the only one that feels taken advantage of! i have been working on a modification with countrywide and now BOA for 16 months! the foreclosure sale is scheduled for january 7, 2010. they haven't postponed the sale yet and tell me that they are still working on a modification packet. there has got to be a way to hold them accountable for this! i have been passed around to people for over a year. this all started back in aug., 2008. countrywide said they are going to modify certain arm loans. they listed the criteria to qualify for the modification. i have the link somewhere and when i find it, i will post it. i fit all of the criteria and filled out the paperwork to start working on it. they never got back to me on it. finally, i called on it and they said the criteria has changed! you needed to be in default if you wanted the help. so, i went into default, 3 months late, and called back to get a modification. before, they would do anything, they wanted a payment and set up a payment plan to get back on track, then i could work with a modification consultant! this is when i thought i needed to get some help. like most of you, i fell victim to the modification scams. i paid someone $1000 down and they were going to help. turns out, he did submit a packet for modification, but countrywide didn't do anything with it. currently, i'm working with an attorney for the modification and a different attorney for bankruptcy. eventually, BOA needs to address all of these concerns and be held accountable. if anyone hears of a class action law suit, let me know, i'm in! they won't even let me talk to someone that has the power to make any decision on my loan. they keep saying they will contact me and after 16 months, i haven't heard a thing. i told them my house has a scheduled foreclosure sale and they said they "would try and have a case manager on the file before the sale, but can't promise me anything". how rediculous is that! the terrible thing about all this is, i would be surprised if i talked to ONE person with a college education! i would be extra surprised if anyone i talked to was making more than $12 an hour. i'm not knocking anyone making that kind of money, but i'm not going to discuss a $600, 000.00 loan modification with a $12/hour employee! good luck to all and we must keep on this!
We too have been having problems with first Countrywide and now BofA. I have been working on a loan modification for over a year. I first tried to talk to Countrywide and told them I was going to run into trouble because my financial situation was changing. Not only was I divorced, but a single mother, so I did everything asked, sent in the hardship letter, etc. After 3 months of no action (and being told the paperwork was still processessing), and making my payments on time, I hired one of those so called "loan modification companies", paid upfront (this was before the news revealed those types of companies were fraudulant), submitted all the paperwork everyone asked for, was told to STOP paying my mortgage and such. I was trying to get both my loans modified. After 3 montsh, I received a letter from Countrywide stating my modification for my first was approved. However, all it did was add the delinquent amount to the end of the loan and raise my mortgage. The interest rate or other terms did not change. I called the "loan modification company" and they said no, that wasn't right, we need to submit again. Then they did nothing. My boyfriend and I got married so we could file for bankruptcy together to try and save the house. I went into foreclosure, got a sale date for my house and everything. Now, I run a daycare out of my house and was freaking out. Began to have problems with my heart (I'm only 38). Next thing I know, I receive papers stating that my loan modification was approved, have the paperwork notorized and send it back, which I did. Again, all the "modification" did was add the delinquent amount to the end of the loan and raise my mortgage. We thought, okay, we'll pay that amount since the 2nd is being stripped with the Chapter 13. So we began paying. Everything was peachy until they decided to open an escrow account for me, pay my delinquent taxes (which was being included in the Chapter 13) and are going to raise my mortgage amount from $2, 309.77 to over $4, 900! Beginning February 2010! I talked to the escrow department and they said they could stretch it out for 60 months to bring down the mortgage to $3, 300. Okay, this will hurt, but okay. Save the house. Then when I make November's payment on Nov. 16 in the branch, they put it into a partial account and charge me a late fee. What is this now? I call the day after Thanksgiving and am told that I'm still under loan modification review. But I thought it went through? We're past the trail period, what's going on? Talked to so many different people, kept getting transferred and disconnected. Kept getting told that my account would update and it would take 24-48 hours, then 5 business days, then another 24-48 house. One guy said "I'm taking off the late fee as we speak" (late fee is still there and nothing has been updated). I asked one of the women I talked to (Veronica) why I received a late fee since I paid by the 16th (according to their coupons, if you pay AFTER the 16th you're charged a late fee). Was told that it's BofA's policy to give a 15 day grace period. I said then you are misleading consumers by saying they will receive a late fee AFTER a certain date but charging them before the date listed on the coupon. She said she could see how that was misleading. ?! I usually keep my cool (after all, I deal with a bunch of kids all day) but I was angry and yelled at a guy who kept insisting I was past due, which I'm not. He said not to hollar and yell at him and I told him to stop telling me I'm behind when I'm not. (This is after spending hours on the phone, on hold, being transferred and then disconnected). I paid on time including the amount stated on the coupon of what was due. BofA flat out lies to consumers. They refused to let me talk to a supervisor. My husband is a cop and got nowhere with them. I've even been trying to change my last name on the account and they haven't done it. "It's processing." I'm so fed up. I don't trust them. They've done nothing but give empty promises. I can't even trust that the escrow department is going to stretch out the taxes for 60 months to bring my payment lower, but higher at the same time. So, after February, I don't know what is going to happen. We can't pay that $4, 900 and I'm not even going to pay anything, if at all, on time since they are putting it into a partial account and reporting me to the credit agencies. Why bother if they're only going to take my house, force me to close the business I've run for over 5 1/2 years and move my family to an apartment, if we can get in now that my husband and I's credit is ruined? BofA can bite my behind. I've contacted the bank I use for my personal accounts to see what can be done, if anything. Thanks for reading and Happy Holidays! Good luck to everyone!
http://www.youtube.com/watch?v=mHFecqSoNMA
Go to this you tube video re: Bof A
If everyone is having a problem with Bank of America and Countrywide Home loans. Maybe everyone banking with Bank of America should reconsider who they bank with. I know people who immediately had their home loan modified with Chase. If Bank of America does not respect their customers, then they do not deserve any customers. Why give power and money to people who abuse that power. Let us make a change.
try calling the office of the chairman @ 972.526.6712 and ask for your foreclosure date to be postponed and ask for the making home affordable plan. It may buy you some time. If that doesn't work call your local television station and ask for any reporters working on the bailed out banks and home loan modifications.
These stories sound all too familiar with my family as well. BOA wouldn't not work with us and kept stringing us along as to what they could do to help. Then we would be on hold for 45 mins per call just to make our payments because the old countrywide website was unavailable and we couldn't access the BOA website to make our payment. Then we started working with a bank to modify our loan and they told us that we had a rolling mortgage payment which hurts our credit because we paid beyond the 16 day grace period two months in a row. We would need to clean our credit or not make another late payment for a year straight, when we can barely afford the mortgage now. I can't even get into the valuation of our home versus the amount due on the mortgage because when we signed our loan two years ago, we were told that it wouldn't ever be an issue. Many lies have been told and they are doing nothing to help us out. We have just been told that they are scheduled to foreclose on our house on Dec. 22nd and haven't offered any options. Merry Christmas! I hope some of you out there are able to find a way to get out of this situation and if you do, please come back and share your stories!
I totally agree. I too had started in with Countrywide on March 17, 2009 to apply for the MHA. After many, many phone calls ( none returned) and many, many e-mails, I finally received two answers, one from the "specialist" I was "working with, and one from his V.P. Of course it's June now and nothing has been submitting after numerous requests on my part. The V.P. said they were running 60=90 days. Well, now I'm at 90 days, but nothing still submitted. He also told me that the appraisal on my house had come back (what appraisal?) and the appraisal was THREE TIMES the amount my house is actually worth. (He obviously didn't have the correct person or address). Now I receive an invoice from Bank of America as they have secured my loan and it's due May 1, 2009. Well, as I am disabled, and trying like heck to get Social Security Disability (another nightmare I am also trying to do at the same time) so I have zero income. My husband works but I was the main breadwinner. I made very, very good money, but it's gone now as I can not work! So, now I have to re-do all all the initial paperwork over with BOA and faxed to them on June 3, 2009. STILL NO HELP! These people don't ever help anybody as far as I can see. It's also the waiting game. Now I receive from BOA a NOTICE OF INTENT TO ACCELERATE MY LOAN. Keeping working with BOA, no avail. Next, of course, I receive the FORCLOSURE LETTER AND I HAVE UNTIL JUNE 17TH TO PAY ALL BACK MONIES. I was at my wits end. The left hand doesn't know what the right hand is doing. THIS IS A JOKE! I happen to luck out because my Dad paid the past due in full for me. What a daddy! Still fighting with the Government over my Social Security Disability, it's been 18months now. So I contacted my Senators and my Congressman and if it wasn't for the help of my two Senators, I would be a disabled, homeless person. Since all my documentation was in SSD and all correct, (someone just had to sign the stupid thing) Senator Hagan's office called SSD and got them to cut me a check that day (don't believing the Government is really going to this, Ha! Ha!), I am hopeless, depressed, and I am getting major flares with the SLE (Lupus). Causing me to buy more medications, which I can't afford! Anyway, as promised, I received the SSD that was due to me for 18months and try to her word, I did receive the check in 3 days. I couldn't believe it. So, the Government can make it happen if they want to or get pressure from Senators. So, only due to the Senators, I could pay my mortage. To this day, Bank of America has never responded to my paperwork from June. Can you believe it? It's not that I haven't tried to contact them numerous times. Here I go again today. Thanks for letting me vent. Wendy
Like all of you, we had a mortgage through Countrywide. July 09 we notified them to let them know do to a job loss we could not make the full payment. We were informed BofA now held our mortgage. Went around in circles between the mortgage dept and home retention dept in our call being transferred. We were instructed not to send any payment so we could qualify for the Making Home Affordable program. We were told the same, to wait for something to come in the mail. Nothing did. I called back the end of July and got the same run around. They said for us to fax over our information. I did. We received some forms in August. We filled them out and faxed them. Mid August, I received a call from BofA letting me know I was missing the tax forms, which I faxed to them and and signature on the upper corner of a document. I complied and faxed it to them. I haven't heard anything from them. Sept we received documents letting us know they were allowing us a modified payment play on a trial basis for 3 months. We paid Sept and Oct on time. When making the Nov payment, I noticed there was a late fee charge placed on the Oct payment which of course makes it appear like we did not make our full payment. I called an was told that, "the forclosure was postponed" and that we are delinquent in our payments. I said I did not know they were going to forclose. She said they do that automatically. I asked about the late fee that appeared and that I can show I made the payment on time. She let me know that as long as we are in default of making the original payment, while waiting to hear back from the Mortgage modification program, they can levey a late fee. I asked why they do it before, she said they still can. In reading my documents, we are not supposed to be behind during the trial period. I was freaking out and feel like they are trying to manupulate the outcome of our approval by adding a late fee. Well, today 12/01/09, have received a Fedex envelope. Inside was 1 letter and a return envelope. They are requesting the same information, "correct or complete borrower signatures and copy of the more recently filed federal tax return with all schedules". The same documents I faxed them. In the letter it gives a phone# [protected]-HOPE to seek assistance at no charge from a HUD approved housing counselor. I'm on hold right now with BofA, hearing the periodic voice message that says, "your wait time will be in excess of 20 minutes. In reading what I am reading here and other boards. I am feeling like more needs to be done. LET'S REACH OUT OF THE BOX! I am going to write Larry King and show him this board. I'm sick of being stuck in the proper circle of writing to the government. I can't afford a lawyer and I haven't heard of a lawyer yet, who want's to spend their live going after a bank. Too big and too much time and money. The media is our government! I want to see the top people who have orchestrated this maze! If we could only do that when it's time to pay a bill! This is too big for us! We need to have the government hear us! A stand in all across the country at a certain time in our towns? It has to be big! We need this to stop! My name is Lorna Baxter and email is dooncookie@yahoo.com
I am having the same problem. They have me doing loan modification every months, to tell me that I dont qualify.
Shirley Eggleston
email shirlyeggleston@hotmail.com
On July 3, 2009 we received a package from Bank of America saying that we may be eligible for a loan modification as part of the Home Affordable Modification Program, we were being put on a 3 month trial period. Bank of America requested a list of documentation and sent a 3 month payment schedule, the requested documents were returned to the bank via FedEx within 48 hours. Our first payment due on August 2, 2009 was made.
On August 5, 2009 I received a call from Bank of America saying that paperwork was missing; after going over the documents page by page (34 pages) with their representative we found the only problem was with the 4506-T form (my husband’s social security number was missing and he signed in the wrong place). The representative told me that to be on the safe side, I should correct the 4506-T form and fax all the documents to them. On August 6, 2009 I faxed everything to them again, noting the loan number on each page and an FPS # provided to me by the banks representative. I called the bank on August 10, 2009 to ensure the documents were received, I was told a 34 page fax was received but had not been scanned into their system yet.
On September 5, 2009, I received a phone call from Bank of America, saying documents were missing, and they now claimed they never received my fax of August 6, 2009 or it never got scanned. I was asked to submit everything again with updated bank statements. On September 7, 2009 I once again faxed everything with the requested updated bank statements. On September 11, 2009 I called the bank to make sure the documents were received and once again was told a fax had been received but not scanned. Our September payment had been made.
On October 23, 2009 I received a call from Teresa Henry (Modification Loan Officer/Loss Mitigation Analyst) with Bank of America saying documents were missing. Ms. Henry went over every document they needed, I faxed and emailed Ms. Henry the documents, again with the most recent bank statements. Once received I stayed on the phone with Ms. Henry going document by document to ensure everything was there. As of this date the October and November payments had been made.
On November 17, 2009 I received a FedEx from Bank of America, thanking me for my payments but stating paperwork was missing, they were going to give me one last chance to submit the paperwork. I called Ms. Henry to ask what was going on. Ms. Henry told me to FedEx the bank exactly what I sent her; in addition she sent me a copy of a letter she had submitted to the HDR stating that all the paperwork had been submitted. Ms. Henry told me to submit a copy of this letter with the paperwork. All documents were fedex to Bank of America on November 18, 2009. I further sent Ms. Henry a copy of the FedEx receipt and tracking number.
On November 27, 2009 I noted that my home phone had recorded several missed calls (between Nov. 24 and Nov. 27, 2009) from an 877 number (no one had left a message, they were just noted as missed calls) curious, I called the number; it was Bank of America “Hope Department”. The gentleman that I spoke with was extremely rude saying “What do you want”, when I explained they were apparently trying to contact me, he said “Yeah, you’re missing paperwork.” When I asked him to hold for a moment so that I could give him Ms. Henry’s name and number, he hung up on me. December’s payment had been made.
I am at a loss as to what to do; I have made all the payments, have submitted all the paperwork (5 times) and still I wake up every day expecting to lose my home. The internet is filled with hundreds of stories just like mine; some people have been declined modifications because Bank of America continues to say they are not receiving the paperwork. In my numerous calls with Bank of America they are quick to point blame at everyone else, it’s the governments fault for needing all this paperwork, it’s my fault, and I’m not submitting the right thing (etc). I realize they are overwhelmed with the number of modification requests, but I also believe they are not dealing fairly with the homeowners.
Here are 2 letters I have written to my congressmen, Senators and President Obama, explaining the circumstances surrounding my pending forclosure at the hands of Bank of America / Countrywide. **I believe that the injustices that are being done to the American homeowner is a shame, in light of the amount of bailout monies given for the specific purpose of helping them save their homes and receiving loan modifications to ensure affordability. Who will hold these financial institutions accountable?
Letter 1
I am a homeowner in Polk County who, like so many others here in our area, is in danger of losing my home. My husband was laid off from CSX Railroad on February 13th, and as a result, our household income has significantly decreased. I started calling my lender, Countrywide Home Mortgage that same day to see if I would qualify for President Obama's "Making Home Affordable Plan". I have since talked to many, many representatives at Countrywide, all of which have told me repeatedly that they would let me know something in 2-4 weeks. I have called every 1-2 weeks since February, stressing to them each time that I really needed to get help soon, since my savings would only get me through a few months of making my $2700.00 a month mortgage payment.
In April I could not make the payment and called, once again to see if I was eligible for the plan, only to be told that they would let me know in 2-4 weeks. They did ask for their payment and told me that they would not accept a partial payment. They stated that if I couldn't pay the entire amount that they wouldn't accept anything else. So, by the end of April, they were (and are) calling for their money. The last week of April, I spoke with a representative from Countrywide that had called to ask for a payment and I told him that I found it funny that when they wanted their payment, they were so quick in calling, but when I call for help in refinancing my mortgage I have been put off for almost 3 months. The rep told me that he would be happy to take my information at that time and that he would be able to tell me that day if I qualified. I had already been told that I did not qualify for traditional refinancing because due to the current housing market, my home was valued at $42, 000 less than what I owe. He took the info during a 47 minute phone call and then placed me on hold for 5 minutes. When he came back on the line he told me that he would let me know something in 2-4 weeks. I could barely contain myself at that point. I reiterated with him that he had just told me that he said he could tell me if I qualify that day. He apologized and said "sorry, it will be 2-4 weeks". I then asked to be transferred to the refinance department, shared the entire story with another man who seemed genuinely concerned and said that he would try to help me. He took the same information that the other gentleman had just taken and told me that he wasn't suppose to tell me this...but, since I had PMI (Private Mortgage Insurance) attached to my home loan, I would not qualify for the Making Home Affordable plan until Phase 2 or 3 of the plan. I asked him to explain and he told me that the plan was rolling out in 3 phases. He stated that we are only in Phase 1 now and that he would expect it to last at least 1 year. He said that since my home loan is guaranteed with PMI, that the lenders know that they will get their money if the homeowner defaults so I would be in the last group of people the lenders will make an effort to help. He told me that he wasn't suppose to tell me this, but he felt that I was a good client and that he could see that I had never paid late and thought I really needed to know since I was depleting my savings. He said that they would most likely keep telling me that they would let me know when I qualified and would tell me it would be another 4 weeks or so (which is exactly what they have done since February) and that they would try to keep me paying until Phase 3, when they would help me. He said that he wasn't saying that I wouldn't eventually qualify, just that my loan, guaranteed with PMI would most likely not be refinanced for approximately another 1 1/2 to 2 years. I couldn't believe it! Finally...someone was wiling to tell me the truth. I keep thinking about his words, "I'm not supposed to tell you this...but". What is going on here? Is this legal? Am I being discriminated against because I HAD to purchase PMI as a condition of my loan, and now it is being used to disqualify me from the help that I need because if I default on my loan before they want to help me, they will get paid for the house and the house to boot? What is wrong with this picture? Have you ever heard of such a thing...or is this a Countrywide thing?
I have called the [protected]- HOPE line for help as well, and they have never heard of this either. They are trying to get someone at Countrywide to talk to them about it and have told me that they would let me know.
Until then, I sit here, not knowing how much longer I will be a homeowner and what will happen next. I am not paying my house payment, which goes against everything I truly believe in, but I can't bring myself to pay it either, knowing that when I am totally broke by June that they will have gotten paid for my house when I have defaulted and will have my home. Why would people like me continue to pay, knowing the day will come when you can no longer pay and the lender will have taken what little money you had left, still won't refinance the home and will take the home as well.
If you know anything about this...if this is legal...of if this is in the Making Home Affordable Plan (since I have read it and have not seen anything about PMI or rolling it out in 3 Phases, please help me ...if you can. I know I am not the only one...but it really matters to me and my family.
Sincerely,
Dana Hall
Letter 2
November 4, 2009
First and foremost, I would like to thank you and your staff for the attention you gave to my family in assisting with our Countrywide / Bank of America issue. If you will recall, Bank of America refused to help my family refinance our mortgage from a 15 year term to a 30 year term when my husband lost his job back in February since we had PMI (Private Mortgage Insurance) as a condition of our loan, and we supposedly did not qualify for a loan modification. I had written to you and several other senators and congressmen for assistance at that time, and your office responded with a letter to the Comptroller of the Currency Customer Assistance Group.
Since that time, I have sent and re-sent financial information that Bank of America has requested and have not received any response from them, other than a notice dated September 10, 2009, stating that they had received my correspondence for assistance because of a hardship I was facing, but that they were denying it because all of the information requested had not been received. I had faxed the assigned rep “Yasmin” the information that she specifically requested in August, because she stated that she had not received it he first time, nor did she have the information that I had provided in May. The notice also stated that I had until 9/16/09 to submit all required documentation or my file would be closed out. So, I called them and spoke with a rep “Natonya” who told be that she could not see that my request had been denied, but she said that my file had been re-assigned to another rep “Peshaam”. She told me to fax “Peshaam” another letter of hardship, proof of income, monthly expenses and bank statements, and he would call me to follow up. I faxed once again, the requested documentation with a cover letter requesting a call back to verify they had received it, on September 14th. (Please see the attached letter that I sent them for full details of my interactions with “Yasmin” in August – was sent along with 14 pages of documentation, to which I have a successful confirmation of receipt)
I called the week of September 21st and left messages with Yasmin, as I did not have Peshaam’s number, only his fax. No one responded or returned my calls. Then the first week of October, almost 3 weeks after I had re-sent the requested information, I received a letter from Senator Bill Nelson, with an enclosed copy of a letter from the Comptroller of Currency Customer Assistance Group, dated September 30, 2009, stating that the had concluded that Bank of America had resolved the issues cited in the complaint and that no further action was required of their office. And to think…that I still hadn’t heard a word from them.
I was utterly in shock. Once again, Bank of America had not responded to anything I had sent them and successfully avoided providing my with any kind of assistance, information, or the common courtesy of even returning my calls, as well as, convinced the comptrollers office that they had resolved my issue. But little did I know that they had an even bigger surprise in store for me! A few days later, at 7:20 pm someone knocked on my door and presented me with a lovely gift of “Foreclosure”. Then it all came full circle for me…..I finally understood how Bank of America had resolved my issue.
So, that’s the story. Now I am facing foreclosure and bankruptcy…all because I did not qualify for the Making Home Affordable Plan, because I have PMI associated with my loan that was a requirement of the bank. No other explanation as to why we were denied had ever been given to us by Bank of America to date.
I have enclosed some of the supporting documentation I have referenced, not that it matters, but I just wanted you and our government officials to know what injustices are taking place, and how your constituents are suffering for it.
Sincerely,
Dana Hall
Again, thank you for your assistance, and if there is anything else you can do to help me, please let me know.
Sincerely,
Dana Hall
I have a home loan with Countrywide, who have now consolidated with Bank of America. Bank of America has absolutely the worst Customer Service that I have seen in my lifetime. (and I have seen some bad service.) I took TWO days before someone at Bank of America gave me the right phone number just to get a simple question answered about my home loan insurance. I was transfered soo many times and I was repeatedly given the wrong numbers to the area that I needed. I don't know how that they stay in business with that kind of awful service. If anybody is looking to get a home loan, I will advise you not to go through Bank of America. You will be sorry. They want you to make your payments every month on time, but when you need them, you will get nothing but the run around!