Bank of America

Bank of America Enough Already! St, pete, Florida

16th of Apr, 2011 by User951285

My husband and I refinanced our home with Countrywide. If you are reading this you know what happened. Now our loan is owned (?) by Bank of America. About fourteen months ago our monthly mortgage payment went through the roof. BA contacted us and said that if we can pay x amount for three months we may qualify for the save our homes program. We have been paying x amount since then. Since then they have told us we do not qualify for that program but we should apply to another program. Over and over again we have submitted paperwork to BA. The house is in my name and the mortgage statement says that I owe $37 K in late fees etc even though we are paying what they told us to pay every month. Enough already! The person that is supposed to be handling this is not returning our calls. And over the last 14 months we have spoken to numerous left hands that have no idea what the right hand is doing. Saturday morning we attended a brief seminar presented by NACA, Neighborhood Assistance Corporation of America. They are a non-profit advocacy group that has contracts with most lenders (including BA) to try to negotiate a reasonable payment for your mortgage. They do not claim to help reduce the principle amount you owe nor the interest rate. And you have to provide them with all of your financial info including your budget. I have no problem with that. Their web site is www.naca.com. We have been told that BA, or any other bank for that matter, will not pay attention for modification unless you stop paying your mortgage. And I have also been told that if you do not make payments, your credit is ruined and you live in tent city. Based on BA's BS my credit is already ruined. Any constructive advise is greatly appreciated.

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