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Bank Of America Home Loans / home affordable modification program

1 United States Review updated:

Today is Dec. 14, 2010 and it has been almost 2 years since I initially applied for the Home Affordable Modification Program with Bank of America in July 2009. I sent them a clean file and kept following up and escalating to numerous supervisors only to be told to that it takes 60 - 90 to hear back from the bank in regards to my request. In December 2009, I was able to get the direct contact number of the negotiator handling my file (after being told that information was proprietary). The negotiator was understandable and sent me my trial payment package which would begin on April 1, 2010. I completed all 3 trial payments on time only to be told that it would be another 90 days before a final decision is made. In July 2010, I received numerous FedEx packages asking for several things that did not apply to me...so I called and the rep said just disregard it. Well another month passed with no word on my modification. In August 2010, I continuously called BAC weekly to check the status and make sure my paperwork was up to date and was told it was fine. Well after hearing nothing yet again as to when I would be receiving my final package...I filed a complaint with the NC Commissioner of Banks. My file was immediately escalated to the Office of the President only to be called with broken promises just to keep the heat off the company. I'm fed up and if I could pay this mortgage off in full, I would just so I would never have to deal with Bank of America again. All of their reps are incompetent and probably have NO mortgage experience or proper training. That should be against the law. I spoke with the 2nd negotiator (office of the President) on Dec. 3, 2010 and she assured me that my file was escalated to underwriting and I should hear something back in a week...well On December 13, 2010, I received another FedEx package thinking it was my final modification...only to find out it was a package asking me to apply for the HAMP...HELLOOOOO! I applied for the HAMP in July 2009 and have been waiting for the idiots to give final approval. I'm about to contact my Congressman next because this is beyond ridiculous.

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Comments

  • Tr
      10th of May, 2011
    0 Votes

    hello to comment on the issues with Bank of America, this story sounds as though I'm reading the exact same problem as everyone else.My husband and I have been trying to go through with the home affortable modificationfor almost 2 years as well. we were sent our trial package as you did and made all of the trial payments. WE must of spoken with atleast 100 different represenitives since we started this process. We were not behind what so ever when we started the modification, and now we are very far behind, due to being misslead the entire time. Noone had a clue as to what they were talking about and we never recieved any calls back.We checked the statues numerous times and were told it was in review.well now 2 years later we are told they donot have a program for us and were told we should just short sale our home. There is absolutly no compassion from these people at all.This has got to be the worse Mortgage company in the world.We donot want to sell our home, we want to save our home and we thought BOA was going to help us with that. Every single complaint I have read about BOA is all exactly the same as mine. I just want some answeres. our files were lost many times which then we had to keep sending the same papers back to them. I am extremely discusted with this entire situation.

  • Mc
      11th of May, 2011
    0 Votes

    Hello Tracy,
    Yes they are the worst company! They took over my mortgage that was initially with Countrywide. As far as the credit issues, they tried to ruin my credit but I went directly to the credit bureaus and disputed every false report they made. Luckily I kept every proof of payment (online) and I also logged every call and who I spoke with. It was a nightmare dealing with them and I kept calling demanding answers on file. I literally called daily from work. It was total chaos. I received my final modification at the end of December but I'm still dealing with them trying to ruin my credit and piling on unfair late fees (when I was never late). It is not the fault of the consumer that BOA takes the trial payments and apply them to an expense account versus applying it to the loan. Once my mortgage is paid in full, I will never do business with BOA again. I stopped banking with them along time ago because they are CROOKS! I advise you to keep calling and request a supervisor because once you make the trial payments, that's the final stage of a modification. If you didn't qualify for the HAMP then they would have never put you on trial payments. After speaking with a supervisor, I found that the main issue with my file was that someone coded it incorrectly which caused it to be held up in the system for so long. If at all possible, contact the Commissioner of Banks in your state of residence.

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