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Nice to hear from you Midsouth, I always enjoyed your input. Still negotiating with the naked Emperor I see and with better luck than many of us with whom it has turned into a full on war. Solicitations stated that the loan met the criteria for principle reduction.
I responded to one of the packages in October 2012 by sending the few docs back in the prepaid and pre-addressed fed-ex package. Called the local number listed on the package in November and finally got ahold of my SPOC (single point of contact)--that was the 1st violation of the consent judgment-BOA SPOC was to contact me as soon as possible. The SPOC did not even know what the consent judgment was. She kept stating that we had already been modified (she was right-under HAMP in September 2012). After putting me on hold, she came back and said she had no docs from me.
Got ahold of someone else and was informed that SPOC was no longer with BOA and I have a new one. Same day talked to him and found out that only some of the stuff I faxed the 1st SPOC made it into the file. In 1st week of January 2013 I call and he says the file has cleared underwriting and is with the investor (allegedly BONY). I question why is the file with the alleged investor when payday loans no credit check same day the investor has given that authority to servicer BOA.
SPOC says it will take 30-60 days with the investor. I research the consent judgment for BOA and guess what?? I keep trying to get ahold of SPOC and finally this evening he answers the phone. I explain to him (calmly I might add) that the term investor is a very specific term as opposed to servicer and that it is at best misleading and at worst outright false.
He tells me that my file is at some unknown location to him within another department within BOA. Finally got thru to CRM (Customer relations Manager) later that morning. I immediately requested a copy of the recording for my records-CRM indicated no one had ever requested that before and would have to ask if I could get a copy. CRM will now be the SPOC and has to call me every 2 business days with updates. Apparently, the file was verified (aka processed thru the underwriter) on December 31, 2012. CRM indicated that the next step after the verification process was that the file was sent to TELEMAC (sic) which CRM advised is a system in which a formula is used to complete the final decision. The file has been in this step since December 31st. She states that our loan is not qualified under the Consent Judgment. I have condensed a 40 minute conversation down to a few bullets for all the various reasons she gave me. Once she explained one reason and I responded, she then gave another reason and so on... She said that she had an answer as to why my loan was not put in the TELEMAC thingy after the verification process was completed on December 31, 2012.
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Even if we could be reviewed under the consent judgment, that we probably would not qualify anyway. I also requested a written denial specifically outlining why we were denied.
She said she could send me a general denial right away. I explained that a general denial would not give me the needed information in order to appeal. I also explained that according to the Consent Judgment BOA is not to refer the loan to foreclosure during this process. I told her that she is not to tell this to customers (i. Her response was that she is not telling us to do this... The SPOC listed above left BOA and I went thru a series of SPOC (within the OOP (CEO--about 4 different ones)).
Finally, in in the middle of May 2013 received 2 separate denials for the DOJ settlement signed by the Judge in April 2012. So, I talked to someone with BOA Intake for denials. She told me she would contact me via fax if she needed anything to complete the appeal. She never contacted me again and about 1 week later I received 2 fed ex acknowledging receipt of my appeal (which I never did write anything? By the end of May and beginning of June 2013 I received 2 separate denials of my appeal. The denial made by BOa is listed in the settlement for those customers who are potentially eligible for the settlement gives the criteria. Also, even though it does not apply, I see this as a slippery slope for BOA to wait until zillow or some other random evaluation shows the value has increased and use that to deny people.
I do not think that was the spirit of the settlement. I say, if it is necessary to be delinquent on January 2012, then BOA should use that month or the month before to calculate the home value. I made a complaint with the monitor (again) and found out that things must have changed since my first complaint. Now, when you make a complaint it actually transfers you from the monitor website to the Consumer protection....
I received an auto email stating that the complaint was being forwarded to BOA. I never knew personal loans reviews personal loans reviews about the DOJ settlement until about a week after I sent the final mod docs in and then started receiving a whole bunch of communication (fed ex reg mail. But for those of you who were put into HAMP or some other mod, without benefit of being evaluated under the DOJ, (i. 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.
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When the anxiety builds to unbearable levels, I am assured that everything is fine. Please do your best not to pay attention to them because you are personal loans reviews safe with us. Since the origin of my loan in 2007, have I applied for a modification on the line of credit.
Qualified Written Request(s) are sent for the vital documentation in order for a third party to successfully identify and locate my loan. Complaints are filed with CFPB, the CA Department of Justice Kamala Harris, and the (OCC). 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 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 loans over 6 months time while paying my trail period payments on time I received 1. Letter from BofA: We have reviewed your personal loans reviews 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 longterm loans loan modification, your circumstances have not changed.....
This payment is subject to change if your escrow account This loan mod agreement made xx, between xx and BofA, N.
As of April 1st, 2013, amount payable under the Note is U. XX the intereest rate and monthly payment will adjust in accordance wit the Note, Adjustable Rate Rider and any other loan.... If on the first 3b payday loans day of February 2036 (the maturity Date) the Borrower owes amounts under the Note, the Borrower will pay these amonts in full on the Maturity Date. However, the scheduled maturity date of my loan will remain unchanged. 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 3 month payday loans direct lenders 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 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 personal loans reviews 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 NEGATIVE and the loan will still be adjusted every year with the LIBOR INDEX, BofA is one of the 11 banks accused of conspiring to manipulate Libor index. I called point of contact who could not really explain how the balloon payment worked. I also commented that I could not sign ANYTHING with missing paperwork.
Loan MOD expires, still no additional missing paperwork form BofA...
New Packet arrives, NO EXHIBT A - just page 3 of my original note with the Clause about MERS in parenthesis???