May 27, 2011
Barbara ext. 2907
Bank of America
Called to get information why I do not qualify for the HAMP loan modification
Barbara said my Loan Modification was declined
I asked Why? What specific reason or reasons?
Barbara said I should receive a letter that will tell me the reasons.
I told Barbara I received a letter this morning and it did not give a specific reason or reasons.
She said “if you would look at the bottom of the letter it says they were unable to create an affordable payment equal to 31% of my income”
I asked what figures were used by the underwriter for my income
She said “it says you have zero income”
I asked her why would it say I have no income?
She asked if I provided all the documents showing my income. I told her I submitted bank statements, tax returns, profit & loss statements. I submitted all the documents that were required.
I asked her to check in my files to see if she can see any documents relating to income, reluctantly she looks.
Barbara said she can see in my files the 2 profit and loss statements, my bank statements and tax returns.
I said ok, now you just asked if I submitted those documents and you can see them in my files, why would the underwriter say I have no income?
I told her this does not make sense.
I asked her for the underwriters name, she said she cannot give me that information.
I asked who can I talk to regarding this issue.
She said I can fax all documents again relating to my income and once that is received they can file an appeal.
Or I can start over and apply for the HAMP modification again.
To make sure I was understanding what she was telling me I said “ I need to start all over again and resubmit the 50 plus pages to them again”
She said that is correct. I said you just told me you can see the information in my files and yet I must resubmit everything all over again.
She said there is no guarantee that I would get the modification if I appeal or re-apply for the program
Barbara confirmed again that she does see the profit & loss statements that are through 3/31/11, bank statements from November 2010 through March 2011, tax returns for 2009 & 2010.
I will need to resubmit all of them again. But they need to be more up to date.
After they receive the “current” information they can file for an appeal.
Barbara would not give me any names or numbers of anyone at Bank of America that I could talk to regarding my application.
More of the Run around games by Bank Of America