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KimberlyLaw, Attorney and Real Estate Broker
Category: Legal
Satisfied Customers: 4237
Experience:  13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
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I have been in the process for a loan modification (Making

Customer Question

I have been in the process for a loan modification (Making Homes Affordable) with bank of america since December of 2010. My first application was denied because they lost paperwork I sent (which I was able to prove I sent them), and I could not appeal the decision because they failed to notify me until after 60 days had passed. They suggested I stop making my mortgage payments so that I could be eligible for their in house loan modification. Is that legal?
Submitted: 6 years ago.
Category: Real Estate Law
Expert:  KimberlyLaw replied 6 years ago.
Hello, I am happy to assist you today.

There is nothing that you have mentioned so far that is "illegal". You certainly have the right to complain, but there isn't much you can do about the denial at this point. You would have to just apply again. Is there a reason why you can't apply right now?

I agree with them that you would be eligible for their internal program and have the option of doing a payment plan, etc. if you are behind on your payments. However, there would be an impact on your credit, so it isn't the best idea.

If you are having trouble making your payments, you could also do a refinance with a different bank.

Take care,
Customer: replied 6 years ago.
They claim I cannot apply again because I have already been denied, but as far as I know, being denied does not mean that i am no longer eligible to apply. The first time I was declined was due to an error on their part. They claimed I did not send any documents, and when I said I had proof that I had sent them, they miraculously found them; however, since I had already been declined, they said they could not change their decision. Is there something I could do about them being negligent to my case and not trying to correct their mistake?
Expert:  KimberlyLaw replied 6 years ago.
Ok, well if they are not letting you reapply then I would push this with them. Send them a letter by certified mail, return receipt, and explain everything that has happened. Demand that they reopen the process for you due to their mistake.

The thing is, even if they reopen it, you still don't even know if you qualify. So before you go crazy I would have a sincere talk with them and see if you are even going to qualify.