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BAC / morgages

1 IN, United States Review updated:

We have been struggling for 6 months with the loan modification process, sent in all the papers required THREE times, sent in the money order required, were told they lost things, we faxex paper after paper week after week, for SIX months, last Friday a rep from BAC calls and said everything was ok cleared up resume using our " modification" coupon book to make payments. forward to 4 days today Tuesday we get a foreclosure notice, we can not get NO WHERE different person everytime you call this is a total nightmare and meanwhile we are losing our homes due to unorganization. SOMEONE HELP US!!!

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Comments

  • Ba
      27th of Jan, 2011
    0 Votes

    I spoke to a lawyer and he explained that BAC makes more money if the house is forclosed. BAC is NOT Bank of America who owns the note. BAC is just the servicing company. If you try for a modification, each rep will tell you something different to do or a different place to send certain documents. When you follow up, you'll find that they have no records of such documents and you'll have to start all over. Once they finally acknowledge that they have your info they will tell you it is being reviewed and to call back in 30 days. When you call back, they have no record of any documents or review. They don't get paid as much if you pay the terms of your loan! They want you to forclose because it benefits them more so they intentially shuffle stuff around and don't communicate internally. This is by design. I would encourage anyone having difficulty with them to file as many complaints to the Federal Trade Commision as possible. It is easy and you can do it in 5 minutes by going to this link on the FTC's website:

    https://www.ftccomplaintassistant.gov/FTC_Wizard.aspx?Lang=en#last


    Hope this helps!

  • Te
      26th of May, 2011
    0 Votes
    BAC - fraudualant loan practices
    BAC
    Missouri
    United States

    I have the same COMPLAINT THAT EVERYONE ELSE HAS ABOUT BAC...I am getting the run around and it has been going on for over 18 months. I am tried of the crap and just want my home modification loan that I was told I had and quailify for. I am tired of talking to a person who doesn't speak English or even live in the USA! All I want is for them to do what they said they were going to do. I am actively looking for class action suits that I can join. Missouri is the SHOW ME STATE and BAC I will show you

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