Direct loans servicing
The lawyer mention that she may get rid of our 25K second mortgage. I payday loans in memphis tn have the same long run around nightmare as the rest of direct loans servicing you with BOA. My trial began in June and I met all requirements in the 3 months period.
I agreed to risk 3 months payments to this crap shoot- nothing more. I never signed or was notified of an extension and have been fighting with them since.
After spending 7 hours reading as much as I can get my hands on at the MHA website regarding Servicer Guidelines, supplemental directives etc. Which I think is extremely important for anyone with an aging MHA trial mod plan which has not been finalized. They have failed to service my mod according to their servicer agreement. I am notifying them of their violation and I am reporting them to Fannie Mae compliance immediately.
I plan on sending this package and copies of documents to support my accusations to everyone I can think of from media outlets, SIGTARP complaint hotline, members of the banking committee, ACORN, Fannie, Freddie MHA Compliance oversight, HUD, Attorney General, White House etc etc etc. They have caused me tremendous financial, physical and psychological direct loans servicing suffering with their gross inadequacies. I have pages and pages of proof to substantiate my claim against them and if I can find a way, I am going to sue them for damages. If they could pay their TARP money back early so they could give their direct loans servicing bonuses out, they could afford to hire more people and live up to their end of the bargain with us, the US taxpayers who bailed them out.
I know they will probably squash me like a bug as I will likely have to defend myself in court but if I can become a huge thorn in their side, I will gladly waste my time trying to sue them without a lawyer. Q1222-01 How should servicers handle situations where an eligible borrower successfully completed the HAMP trial period but has not been converted by the servicer to a permanent modification in a timely fashion?
In situations where an eligible borrower successfully completed the trial period (including providing the required documentation and making the required payments) and should have been converted to a permanent modification, but for reasons beyond their control were not timely evaluated direct loans servicing for a permanent modification, the servicer must promptly make a determination as to whether the borrower is eligible for a permanent HAMP modification.
In addition, servicers must make permanent HAMP modification offers to eligible borrowers that are identified as currently being in this situation by February 28, 2010. The permanent HAMP modification offered must put the borrower in the same position as he or she would have been had the servicer converted the borrower to a permanent modification in accordance with the program requirements. A borrower in this situation remains eligible for a permanent HAMP modification regardless of whether the borrower failed to make trial period payments following the successful completion of the trial period. As part of its regular compliance activities, MHA Compliance will test for compliance with this guidance. In addition, MHA Compliance has been conducting, and intends to continue to conduct, focused file reviews on populations of aged trial modifications. In that situation, the borrower direct loans servicing must make an additional trial period payment for each extension month by the end of the Trial Period Extension to receive a permanent HAMP modification.
I refused to let him off the phone without an answer. It is an aweful game they are playing with consumers. While direct loans servicing 4496 dollars is sitting in a partial payment accounting... My aunt recently agreed to HAMP with BOA investor Freddie Mac. We attended the NACA workshop in West Palm Friday wherin they told her he first needed to complete the terms for the agreement before she could do a workout through NACA. Yeterday she ws served with paperwork advising they would be auctioning the home.... Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Until this point, I have felt at fault for the unbelievable irresponsibility associated with my home loan. This allowed Bank of America to gain my complete trust in the proceedings. I have followed every suggestion no matter how irrational.
I need a personal loan now have provided for every repeated request of documentation no matter how blatantly obvious the intentional stalling of progress on their behalf. I am 60 days behind payment schedule, being assaulted by a constant barrage of foreclosure letters, bright yellow threatening Sunday door knockers, and routine individuals showing up in rental cars to photograph my home.
March 2012 - BofA acknowledged receipt of inquiry about loan requests.
BofA failed to mention QRW, until we sent in another request. Bank of America could not tell me who owned my loan!!! July 2012 - Sent in a second Qualified Written Request. August 2012 - Phone call from single point of contact!!! Upon guaranteed payday loans no brokers completion of 3 month trial period, Mod will be fully effective.
I received the The Loan Mod Trial Period Plan the paperwork. It did not breakdown the interest rate or the term, but entering the values into a mortgage calculator it came out to 3. After the 3 month period was over, I started calling on a weekly and sometime bi weekly basis, It has been a six months roller coaster of emotions stress, anxiety and harassment.
During this time while paying my trail period payments on time I received 1. Letter from BofA: We have reviewed your request for a home loan modification.
Unfortunately, your home loan is not eligible for modification assistance for the following reasons: After previously being declined for or failing to accept an offered Trail Period Plan or permanent loan modification, your circumstances have not changed..... Every can i get a loan time one of these FedEx packages, or letters arrived I put a follow-up call in with my single point of contact who stated these did not come from his office (even though his name was at the bottom if most of them) and all was fine and moving forward with loan docs for the final modification.
This means that even if I make all of the scheduled payments under tis modification on time I will have a remaining balance at the maturity of my loan which is called a balloon payment, and will need to make arrangements to pay this remaining balance. Nothing in this agreement shall be understood or construed to be a satisfaction or release in whole or in part of the Nate. Except as otherwise specifically provided in this agreement, the Note and Security Instrument will remain unchanged, and the Borrower and Lender will be bound personal loan without salary transfer by, and comply with, all terms and provisions thereof, as amended by this Agreement. If the original promissory note is replaced the Lender hereby indemnifies the Borrower against any loss associated with a demand on the original note. All documents Lender requests of Borrower shall be referred to as Documents. Borrower agrees to deliver the Documents within ten (10) days after receipt of Borrower of a written request for such replacement. My original Negative Amortization loan was to remain open and this second shadow loan created that states I am paying interest, even though it is still direct loans servicing NEGATIVE and the loan will still be adjusted every year with the fast bad credit loans LIBOR INDEX, BofA is one of the 11 banks accused of conspiring to manipulate Libor index.