We started calling B of A to see about getting a home modification in October 2008. Every time we called we got a different person.
They were very courteous on the phone and took all our financial information, but informed us that we had
never been late on our payments so they could not help us. We called several times and each time they wanted our
financial info. Once we got a woman who seemed to really care and she gave us a number to fax our info to HUD and they would
get in contact with us. When that didn't happen, we called again and they wanted our finance info again and told us they couldn't help us because we were not late. They did promise to send us out a package. We waited 2 more months and when the package never arrived, we paid a financial company $3495.00 to get us a home loan modification. Our loan was going to an ARM and our payments would be raised $1000 a month on a home that had depreciated $180k. We received a package from B of A after we paid the the negotiators and 3 months after they said they would send it. They asked for 3 payments of $1954.54 and asked us to blindly sign the application for a home loan mod.
The Application said that they would keep our money if we didn't qualify. It did not say how long the loan modification would be, what the monthly payments would be or what the interest rate would be and they said nothing about the second loan that they also carried for us. We told the negotiators about the paperwork and we refused to sign them, especially after hearing all the terrible stories about B of A from
everyone else on the web.It is now May 22, 2009. To be able to apply for a home mod we had to quit making our payments. We had to ruin our credit to get help.
In June 2009 our negotiators call and tell us agan that B of A sent us a loan modification and we didn't sign it. We told her it was an application not a modification. They told her that since we didn't sign it, they would not offer it to us again. Our negotiator told us that she would go back to them and try to get us a better deal... but we still didn't know what we were going to be offered if we qualified. In October 2009 our negotiator told us that we had pre approval and that our papers were sent to underwriting for review and that everything was going smoothly and this was good news. In October we also received a loan mod from B of A directly for my second. We owed $79000. They raised my payment $280 and left everything else the same. We faxed those papers to our negotiator also and did not sign them. They were going to add the $4000 I was now behind on to the back of my loan and for that I got to pay them over $40, 000 more over the life of my loan.
I don't think so!
Well, in November my negotiator said B of A contacted me and sent me modification papers that I did not sign. I told her I had already faxed them to her and she asked me to fax them again, which I did. I did not hear from my negotiator or Bof A again until last week.

On March 24, 2010 we came home to a notice on our door stating that Fannie Mae now own my home! We were never given notice of the trust deed sale and when my negotiator asked B of A if our home had a sale date they lied to them and said no! They gave us no opportunity to save our home. When I called the negotiator and told her to call and get the loan back before it records, she said it wasn't too late. She would call them and call us back. But she never did, She couldn't get a hold of anyone at B of A and she didn't return our calls and our home recorded. On April 1st we got a 3 day notice to quit on our door from Fannie Mae's attorney. We called the negotiator again and this time she called back and said she spoke with someone at B of A who told her that our home got red flagged because we didn't sign the first blind mod application papers asking for $6000 with no promises at all!
That is why they sent my house to be sold. B of A never had any intention of helping us. They lied to my negotiators and they stole my house from underneath me. I feel as though someone slugged me in the stomache and stole my house. If they didn't want to give me a mod all they had to do was say so. I could have short sale'd my home, or filed bankruptcy even though we weren't behind on any of our bills, but it would have given us time to get a lawyer.

B of A got $118 billion of our tax money when they took over Merrill Lynch and much more besides! When the little man asks for some help with a fixed loan...well that's a different story! My husband is 64 and permanently disabled and I work full time. We have to be out of our home in less than 2 months. We are not prepared. We had pre approval! We are in shock! And they say they are going to lower the principal on mortgages where the people are unemployed??? Ha! They will not consider you for a home modification unless you have a job, so how is that ever going to happen? Fannie Mae backed my loan, so B of A got their money for my house. Does it make sense to have to dump a family that loved and cherished their home and wanted to desperately stay and work out a plan, to have to sell it for $180, 000 less than what it's worth?

Never ever do business with B of A and never trust what they tell you unless you get it in writing!
HOME LOAN MODIFIERS BEWARE!!