I am having trouble w Bank of America about my mortgage. I applied to them 8 months ago to have my mortgage modified. They sent me an application and alist of documents to fill out. I Did as they asked but kept calling me and saying that i left out paperwork . I filled 4 sets of documents with them and i'm still getting the runaround. At one time the told me I could stop making payments for 2 months and they would tackm them on to the end of my mortgage,then after the 2months wrer up they said I was behind on my payments and I was on the verge of foreclosure. I am 75 years old & my wife is 69. We are on social security and recieve 2200.00 dollars a month from them . Now all my savings are gone and my credit rating is ruined. Is there anything that I can do?
Country relating to Question: United States
State (if USA): Florida
We have tried calling them to try to work something out. they said they try but now they say if we dont pay up they will foreclose.When I call and try to talk to someone about this, they tell me my call cannot be completed.
Thank you for the post, I am happy to assist you by answering your questions. Is there anything in writing directing you to stop making the payments for 2 months?
I dont know if I have anything on that . They are pretty shifty on the phone and of course they claim they never said that.
Thank you Albert, are you making mortgage payments now?
I have made all my payments on time except the two .
Are these two the most recent payments due?
No they are my regular monthly payments. Yesterday I received acheck from them in the amount 1184.59 which they said was not the total payment due for April. I checked my account and I sent them a payment of 1259.54 which they cashed on 4/4 2012. They have sent my credit rating down the tubes. When iI first applied to them my rating was in the 700, now it is in the 400.
ok, what are they requiring you to do to stop foreclosure?
They want me to pay up the back two or three payments plus penalties. We dont have that kind of money. We are almost completely broke.
ok, but can you afford the regular monthly payments, or do you need to modify the loan?
I can continue to make my monthly payments but it will be a strain.
ok, the next step for you then is to draft a letter chronicling the facts, specifically that you were advised not to make payments for two months, and have allocated that money (spent that money) but are able to continue making the regular monthly payments as you have been doing since those two payments were skipped as directed. You are in a very vulnerable position here Albert and I do not want to mislead you on this point, because there was no written direction to skip payments, it may appear to a third party as though did you so of your own volition and cannot now bring the loan current. This is why the letter is important because it gives you the benefit of a written record verifying your claims before foreclosure is commenced and should the lender attempt to foreclose, then you can present the letter as evidence of why the foreclosure should not be granted.
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