BOA DOJ 2014 Mortgage Settlement: Notification Letters

[switch625]

I recently got a letter (via atty) from the settlement adm. for the BOA 2014 mortgage settlement regarding possible payment of taxes for BOA second lien extinguishment. In the 2014 agreement, BOA set up a fund to pay taxes for homeowners for whom were offered morgage relief under the 2014 agreement. I beleive that was not the case with the 2012 settlement. What I'm really posting about is this: The letter also stated that I should have received a letter from BOA proposing the second lien extinguishment offer. I have yet to receive that letter and I'm curious if those of you who may have filed BK after the 2012 settlement like I did who have a BOA loan if they did receive such a letter yet, or just received the tax payment letter, but not the proposal, like me. From what I read, BOA gets extra "credit" to process these offerings this year and I believe that one batch is to be done by 5/31/15 and another by 8/31/15 to get the extra credit towards their settlement obligations with DOJ.

From what I understand from years ago postings, there are no taxes due on a 2nd lien extinguishment if the loan was part of the Ch 13 filing (which mine is)and he xtinguishment occurs after the BK filing. Please confirm if that is correct. But right now, I feel like I'm being teased with the possibilty of the extingishment and ridding me of a large debt and I wish the offer came first!! If I wasn't eligibile, I would not have receive this letter, right? That brings up another question. Would that balance be extinguished immediately or will it be treated like a lien strip and be done at discharge (if I got that right).

[justbroke]

Bank of America extinguished my lien in 2013 as part of the 2012 settlement. That was after I discharged my liability to pay, on the note, back in 2010. I also received the letter from the Hall V BofA settlement last year . The deadline to file a claim has already passed (back in late January 2015).

I can't tell you whether you qualify or not. They basically send the notice of settlement to everyone that could "possibly" be qualified. I did receive the 2014 Hall v BofA settlement and filed 4 claims.

[switch625]

Bank of America extinguished my lien in 2013 as part of the 2012 settlement. That was after I discharged my liability to pay, on the note, back in 2010. I also received the letter from the Hall V BofA settlement last year . The deadline to file a claim has already passed (back in late January 2015).

I can't tell you whether you qualify or not. They basically send the notice of settlement to everyone that could "possibly" be qualified. I did receive the 2014 Hall v BofA settlement and filed 4 claims.

I know in my case, once I get the offer, they will extinguish the 2nd lien unless I specifically ask to opt out of it.

[switch625]

An update: I recently learned that BOA is going to forgive my home equity loans and that process should be completed by summertime! I expect my plan payment to go up once the Trustee is notified and my pmt will put me close to or at 100% payback.