BofA Modification Trial

[UpToMyNeck]

This is Nuts!

I just got a letter from BofA yesterday offering me a "Trial Period Mortgage" that's about 1/2 of my normal payment. From what I've read this won't gurantee a permanent modification.

The last payment I made was in April '09. I TOLD THEM THEN I was having problems and talked to them for months before and after defaulting trying to get help. The last response I got, when my husband was out of work sick w/o pay, was "Get a second job and watch your expenses". My credit score was 729prior to all this. Last month I got a letter from their lawyer they retained to start Foreclosure. I'm dreading the phone call to BofA to get clarification on what this Trial can mean for us. Our income is back to normal, hubby's back to work, but our finances are now shot. I already know I'm going to reach people that are totally clueless and will just end up fraustrated. The letter clearly states that by paying the trial amount that the income they originally based it on is accurate. That is not the case anymore.

I retained an attorney 2 weeks ago and he's cashing my check today for the remainder of his fees. I plan to file CH-7 this month. I'm planning on moving forward with it and just hope that I'm doing the right thing. I'm filing strictly to get out from under the mortgage because I'm reaffirming on my cars and don't really have credit card debt. Again, I just hope I'm doing the right thing. I'm so fraustrated with the bank.

[2manybills]

This is Nuts!

I just got a letter from BofA yesterday offering me a "Trial Period Mortgage" that's about 1/2 of my normal payment. From what I've read this won't gurantee a permanent modification.

The last payment I made was in April '09. I TOLD THEM THEN I was having problems and talked to them for months before and after defaulting trying to get help. The last response I got, when my husband was out of work sick w/o pay, was "Get a second job and watch your expenses". My credit score was 729prior to all this. Last month I got a letter from their lawyer they retained to start Foreclosure. I'm dreading the phone call to BofA to get clarification on what this Trial can mean for us. Our income is back to normal, hubby's back to work, but our finances are now shot. I already know I'm going to reach people that are totally clueless and will just end up fraustrated. The letter clearly states that by paying the trial amount that the income they originally based it on is accurate. That is not the case anymore.

I retained an attorney 2 weeks ago and he's cashing my check today for the remainder of his fees. I plan to file CH-7 this month. I'm planning on moving forward with it and just hope that I'm doing the right thing. I'm filing strictly to get out from under the mortgage because I'm reaffirming on my cars and don't really have credit card debt. Again, I just hope I'm doing the right thing. I'm so fraustrated with the bank.

Doesn't this make you crazy with the banks. While we are riding thru on our house, I know of 2 people this is happening to. Why don't they help people from the start. I don't get it. Do they want the houses back? (just venting!)

[Jammed]

BofA sucks! I've been trying to work out some type of modification on a rental property that I'm losing $1,000 a month on. After giving them all our financial information, the best they offered was to increase our payment by about $600 a month until we're caught-up. Well if we can't pay the regular payment, we sure can't afford another $600 on top of it. And what really ticks me off is even after we made the first payment they are still proceeding with pre-foreclosure activities. I feel like they are just stringing us along to get whatever money they can from us until they foreclose in a few months.

[DeadManCrawling]

We are considering a BoA mod as well, awaiting paperwork. THese stories posted here make me leery, and we have plan b, just in case.

Good luck to everyone, BoA is the definition of dysfunctional.

[UpToMyNeck]

Jammed they initially did the same with us. They offered us 1 month no payment then payment & a half until all late fees were paid and we were current. I told them I couldn't afford the regular payment and wasn't interested in working something out to pay their late fees.