Denied Modification

[Gabriel_S]

So I got home from my part time job today and lo and behold there was a parcel from Fed-Ex. The parcel was from BoA stating that my loan mod was denied (no explanation as to why). They are trying to push me to go for a short sale! I'm devestated, only a part time job, no family or real friends to move in with. I have 2 dogs and a house full of furniture. Is it time to panick yet? Seems I've run out of options and cash is pretty low. BoA reviewd and denied my mod in ONE day ...sheesh.

So what can I expect from here on? I don't think a short sale is a very smart idea? In Wa State btw.

If I had somewhere to move to I would call this a peaceful closure but right now I'm sh*t out of luck .....

[despritfreya]

I am going to go out on a limb here and I am in no way, shape or form "endorsing" the web site I am going to direct you to. If you do view the site be careful as to what information you "hang your hat on" as I find a lot of the info is wrong or over-stated. But, on the other hand, there is some useful stuff. So, if you have not already tried it, go to:

https://www.loansafe.org

And. . . don’t let the “.org” fool you. The site has nothing to do with a “not for profit” orgainization.

Des.

[Gabriel_S]

Thanks Des, took a look at it last night. Lots of info and still trying to sort through most of it. The BK forum site has the most accurate info I've seen so I'm a bit leary with info from any other site (and I've visited plenty of them).

Never in my wildest dreams did I think I would find myself in this predicament. Just never know what curves life will throw at you. BoA sold my second to Real Time Resolutions last year and I've read many storys where they literally put the brakes on any short sale.

Went through all my BoA records last night and haven't found any Notice of Defualt, only 2 letters of Notice to Accelerate (one of which was telling me my home is in serious defualt and needs to be caught up. This was back in June 2010, and one Pre-Foreclosure Options which I recieved Feb 2012.

Anyhoo, my head is still spinning trying to find a resolve on where I'm going to live and how much time I have left before the axe falls.

[Drazil65]

Hi, I think I had made mention to you at one point a while back that BOA is famous for getting your modification hopes up only to yank the rug out with a denial. I assume you have not made payments in a while and they are being very agressive with the SS stuff (like real estate agents calling etc). We told them no on our house for a SS. We have not made payments in over a year to BOA, they have denied us a mod but continue to send overnite packages offering us a mod (???) and they are pushing constantly for a SS. They sent the acceleration letter last fall (after 90 days late) but nothing since.

With BOA I think you have time. Stay for free as long as you can (which probably will be a while as BOA is taking a long time to foreclose) and save as much money as you can. Is there any possibility that your employment options will change at some point in the near future? If not you might have to consider working 2 part time jobs to save as much money to move as possible. Good Luck!

[Gabriel_S]

Hi, I think I had made mention to you at one point a while back that BOA is famous for getting your modification hopes up only to yank the rug out with a denial. I assume you have not made payments in a while and they are being very agressive with the SS stuff (like real estate agents calling etc). We told them no on our house for a SS. We have not made payments in over a year to BOA, they have denied us a mod but continue to send overnite packages offering us a mod (???) and they are pushing constantly for a SS. They sent the acceleration letter last fall (after 90 days late) but nothing since.

With BOA I think you have time. Stay for free as long as you can (which probably will be a while as BOA is taking a long time to foreclose) and save as much money as you can. Is there any possibility that your employment options will change at some point in the near future? If not you might have to consider working 2 part time jobs to save as much money to move as possible. Good Luck!

Hi Draz

Yes, I definitely remember your reply. I've resubmited paperwork to them 3 times (the second was fed-ex overnight, checked the tracking and BoA did recieve and sign for the documents) yet there is no record of it to be found anywhere. The last set of documents I faxed directly to the person that was asigned to my case. BoA reviewed it and denied it the same day. Seems to me they just want the home and are just going through the actions so I can't sue them. They continued calling me as a debt collector even though the house was discharged in my chapter 7 and I reminded them repeatedly of this.

I've had quite a few interviews for full time employment but I'm pretty sure I wasen't picked due to age descrinination or the fact that I want to give my present employer 2 weeks notice. I have another interview coming up tomorrow so we'll see how that goes.

As for 2 prt time jobs I would love it, but since I'm working in retail right now, I have absolutely no set hours. I close one night and then open the next morning 8 hours later. Some days I start at 6am, others at 2pm. This makes a second job near impossible.

My wish is to just let this blasted home go already and move into an RV (no mortgage or taxes to worry about, electric bills, water bills and so forth). Problem is, any decent ones I've looked at that would house myself and my dogs (my only family at the moment) is still a few K out of reach at the moment.

My only hope as I see it is to land a good full time job and purchase an RV ASAP. Unfortunately easier said than done in this economy.

I was really hoping on saving a ton of cash after my discharge in 09 only to get laid off 2 months later .... sheesh!

Anyhoo, thanks for the best wishes, I can really use them right now!

[daveinIL]

BoA sure is an odd duck...our modification went through the same problems as most people...lost, resubmitted, lost, resubmitted, etc. Finally (almost two years ago) we were given a final letter of denial. Then two weeks later, we received a FedEx package with all of the paperwork for an APPROVED modification!

It seems that at some point during the process, our modification was submitted a complete second time, and one of them was approved, the other denied. Needless to say, we were quick to get the paperwork signed and returned and we have a successfully modified loan.

Also needless to say, I didn't contact them for "clarification" since I wasn't about to give them a chance to reverse their decision.

[Pandora]

.... If you do view the site be careful as to what information you "hang your hat on" as I find a lot of the info is wrong or over-stated. But, on the other hand, there is some useful stuff.

And. . . don’t let the “.org” fool you. The site has nothing to do with a “not for profit” orgainization.

Des.

+1000000 times over what Des states.. be very careful on the site above.

[jcsawyer]

whatever you do do not go to loansafe.org! I went there and it was good in the beginning like two years ago but now its all a ploy to get you to buy a service! Anywho back to your post about BOA, I completely understand how you are feeling and what you are going through with BOA. File a complaint with the consumer financial protection agency. That is a great line of defense for people that BOA wants to mess with. A short synopsis of what BOA has and is putting us through: 11/2009 received mod paperwork sent back overnight a week before the due date (signed notarized and first payment was sent all before 12/14/2009) started making our new payments as this was not a TPP. March 2010 BOA sent us a Fed-ex packet stating that we were denied for an incorrect notary seal (HUH???!!!!) Low and behold they wanted an Ink stamp notary seal (something of which was never told to us we were just told to get it notarized, which we did). We were told to just start the process over well over lost documents, numerous,stories from different negotiators told by other negotiators not to make payments told to make payments by others, told even not to sign a mod that was sent to us as the negotiator did not know where it came from. We hired an attorney to help and they refused to communicate with the attorney, so I filed a complaint with the Consumer Financial Protection Agency and low and behold we have a mod but we do not know the terms as they refuse to tell us what they are BUT they are also playing games again stating that they did not receive the acceptance letter (I have proof it was sent via Email AND Fed-Ex over night) and they also cannot come up with a date the first payment is due as they want to tell us two different dates and I have it on paper. So yes BOA likes to play with people and I am all for filing bankruptcy to save my home so that when the time is right for us we can re-fi and get the heck away from these nut jobs!

[Floridagail]

We got the same letter from BOA, That we were denied a Loan Mod. (WE never asked for one.) LP 11-30-2010. Did you have to provide work paycheck stubs and bank statements ??

[KatieGirl]

Was your last payment 2010? And you are still in the house? Just asking. BofA did my loan too but I chose to let the house go in bankruptcy.

[KatieGirl]

If I may ask, how much do you owe on your house? What is the house worth? I assume you are underwater on it...

[jcsawyer]

Well lets see denied in 2009 for "incorrect notary seal" was to be an ink stamp notary seal not the embossed seal that you normally think about and we were told no different! We made payments from dec 2009-june 2010 as there were misplaced payments that they added back into play then stopped making them again as per the direction of boa until november 2011 for trial payments which they denied for not having a dodd-frank letter that they never sent nor coul they prove one way or another on that then again made then from nov2011-jan2012 when they denied it stating we made the wrong payment amount for the trial payments! Then recieved foreclosure papers on june 2012 and files chpt 13 on 8/21/2012 when they wanted to play more games with us. We are so very done with them!!!

[Floridagail]

Our last payment was May or June 2010, We are still in our house. In Sept 2008 we tried to sell our house for 265K, Now it is worth 80 or 90 at most. We got a letter yesterday from BOA wanting us to do DIL, they did say we would still get a 1099 , so we threw the letter away. They can forclose as far as we are concerned. Our LP was Nov 2011.

[Gabriel_S]

I'm so sick and tired of dealing with banks, as soon as I get this behind me, dowsizing to an RV to live in is more than acceptable to me. I will owne it outright, no morgages to pay or RENT for that matter and I will have an opportunity to save a ton of money. I'll still have electricla bills to pay for when hooking up but nothing even remotely close to what I'm paying for utilities right now. I just wish BoA would get off their ars and proceed already!