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Home loan modification...been being passed around and blown off for 3 years now...

They keep our mod eval open so we have not be foreclosure but we keep getting jerked around... Should I pay the money to hire a lawyer? What about chapter 13? Some people say you must have a lawyer to get through others say don't waste your money when you can do it yourself... which is it!? WE seem to qualify for a mod but they just keep jerking us around! Ia m nauseous waiting for the other shoe to drop. I need a decision one way or another so I can be free from the strain. It has been too long. Bank of America by the way...

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Anonymous

Asked by Anonymous at 12:10 AM on Apr. 25, 2012 in Home & Garden

Answers (5)
  • Boa says it all, get a lawyer and goodluck.
    Mrs_Harsh

    Answer by Mrs_Harsh at 1:00 AM on Apr. 25, 2012

  • I do not own a home and really don't understanding your question to answer, however, my experience with Bank of America in general was beyond horrible. I hate them. Being as I do not understand the whole mortgage thing, I don't know if this is a reasonable suggestion, but I would badger them and demand to speak to higher ups. Visit their regional/district office - that was very effective for me (suggested by an employee of BOA I knew) when they were not cooperative elsewhere. Report to the BBB - they must respond (effective for me when freecreditreport.com inappropriately charged me - more thieves). Contact your county/state fair housing board - whatever that is called. Also, here the State Bar can refer to a lawyer for a half hour at $30 - if you are very well prepared and don't let the lawyer divert the convo, you can get ALOT of help for cheap.
    figaro8895

    Answer by figaro8895 at 1:03 AM on Apr. 25, 2012

  • PS... I can't promise anything because my life is crazy, but my father has been in the mortgage business for over 30 years. His job is to clean up all the bad loans and audit the process, etc. If there is anyone who will know how you can get their attention it will be him. I am overdue on a phone call to him and I will be happy to ask him. PM me so I can let you know what he says if you want.
    figaro8895

    Answer by figaro8895 at 1:06 AM on Apr. 25, 2012

  • I would try NACA.It is free. They have had success with getting modifications for Bank of America loan members. Http://www.naca.com
    coolmama1994

    Answer by coolmama1994 at 6:30 AM on Apr. 28, 2012

  • In February 2009, the government unveiled the Making Home Affordable Program, which is made up of two main programs: one for loan modifications and one for refinance loans. The loan modification portion is called the Home Affordable Modification Program (HAMP). The refinance plan is called the Home Affordable Refinance Program (HARP).

    According to the details of the HAMP plan:

    The lender would first be responsible for bringing down interest rates so that the borrowers monthly mortgage payment is no more than 38 percent of his or her income.
    Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent.
    Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
    pre-approval mortgage
    adrianstone80

    Answer by adrianstone80 at 9:16 AM on May. 11, 2012

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