Filed on Chapter 13

[Torra]

I put my papers filing bankruptcy in the mail yesterday. I was not able to complete my home loan modification with the B of A before filing.

Trying to work with the B of A for a year on this loan modification with out success and deal with my creditors has pushed me to the brink of mental and physical exhaustion and breakdown. I realize that I am grasping at straws hoping to finish this process in a bankruptcy but this is all I have left.

I did write to my congress woman. Her office has contacted the B of A for a co-worker of mine who is in a similar situation with her home loan, though not filing bankruptcy. Next on my list is the media, CNN and MSNNBC to start.

I am thankful for the information and insight I have gotten from this forum. I wish I could have followed the advice and hired an attorney and waited for my modification to complete. I am out of money and time so I must rely on my own abilities and efforts.

I did visit homesafe.org. There is an e-book on their site that did help me write a proposed loan modification that I did fax to the B of A. They, as always, have not acknowledged the proposal or contacted me.

So - if there is any one out there in the same situation, please respond to this post. Perhaps we can share ideas on how to get the bank to negotiate with you in bankruptcy.

Our paper, here in Hawaii, reported the bankruptcy filings up 32% from this time last year. I hope the courts want to help homeowners keep their homes. Aren't the banks suppose to be helping homeowners? Didn't they get help from the tax payers? Some one has to make the banks fulfill their promises and finish these modifications. Who is monitoring them? Who do we turn to for help?

[Nanzee]

Sorry it has been so hard for you - we didn't even try a loan modification. Our mortgage company sucks - America's Servicing Co. Really, were always a bunch of pricks, so we knew not to even bother. We stripped the 2nd that was held by Select Portfolio Servicing - they were even worse to deal with than ASC. Frankly I have read tons of stories about "loan modifications" and basically it all seems to be one big fat scam. Who the hell is monitoring them is a very good question. I wish you good luck with the Chapter 13 - I do hope it will give you some much needed relief.

[dlinid]

I tried 3 times to have my second mortgage modified by GMAC. No luck, so we filed for 13 December of 08. After waiting a YEAR to hear from GMAC last time, I just got plain fed up and filed a complaint with my attorney general and the state department of finance. Well guess what, GMAC called me within a week and is now processing my 4th try at loan modification. I sent all my letters to GMAC and their replies to my AG and the dept. of finance so they could see how shoddy I was treated.
Now when I speak to anyone at GMAC I let them know that I am typing a transcript of the call and it will be forwarded to the AG and state finance dept. as part of my complaint case against them. We will see where it goes, but this is at least somewhere to start. Go to your AG's site and you states dept.of finance to see if you can file an online complaint or if you need to send one in.
You will need to get a letter from your attorney so that your mortgage company can speak to you concerning a mod. I would also ask your attorney if you need anything from the trustee to do the modification. Sometimes you will need their permission. Mine said a mod is not the same as a refi so she did not need to get involved. Each trustee will be different. If you get your lender to talk to you, write down the conversation and keep all interactions by names, dates and times. Let them know you are keeping track and reporting back to your AG. Hope this helps, I will let you know the outcome of the latest attempt at modifying my loan.

[ednasouth]

You are not alone Torra! I requested a mod with BOA about 1 year ago. I was originally under Countrywide. Denied, because I was current. I let my pmts slip to pay cc (dumb move) and tried again. Called every 6 weeks, still in review....Someone from Consumer Credit Counseling (or similar) called me and said they were contracted by Fannie M to see if I qualified for debt consolidation due to my loan mod request. After crunching everything, they advised me to seek legal help! No joke! This was my wake up call, so I schedule my first meeting with BK atty the next week. Everything was going fine, filed in Jan 2010, then got notice that BOA had paid my taxes and home insurance, and put them in escrow, because that was was a requirement for the mod I haven't even been approved for. I've always paid my taxes, insurance, etc. separate and on time. Insurance was on auto draft. My ch 13 plan includes me paying insurance/taxes separate. They have finally removed the automatic escrow for next year. We are modifying my plan to cover what I have to pay back on what they paid and to allow me to budget for next year. Just two weeks ago they asked if I still wanted to wait and see if I qualify for a mod! NO WAY! Every department their tells me something different! They have been giving out so much wrong info they now have a new policy in place. The BK Dept. can't provide owner's with the "analysis" results. You can only get that from their BK attorneys. The BK rep said he could no longer provide me with the info I requested, because of the new policy and told me why. I called the escrow dept and got the info I wanted anyway - A statement showing new pmt. with escrow amounts included! CRAZY.....

[Torra]

Thank you all for all your great information. I think there still may be a ray of hope out there. Can anyone tell me what needs to be in the letter to the mortgage company so they will work with me while in BK? I do not have an attorney so I need to send them a letter myself.

Thank you

[dlinid]

If you are filing Pro Se, then you will not need a letter allowing your mortgage company to speak with you. Only if you are represented would you have needed that. Tell them that you are representing yourself in your bk.