Our BofA Loan Mod Update: Battling The Banks

· by: melissa

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We got our loan mod.

I say this with guarded and hesitant excitement because Bank of America worries me, their past actions with us and with the rest of the general population speak VERY LOUDLY.

For the next 3 months, we are in a “trial modification”. We have to make reasonable payments, ON TIME, for 3 months and then, come April…it’s supposedly going to be a done deal. Good for the next 40 years. The final papers will be here in April for us to sign and continue living here, in our house.

I know, I should be SO EXCITED. I think that once April comes and the papers are signed, I’ll be able to breathe. Because, we’ve been in this particular boat before. The trial mod before the real deal. This is the 3rd time. This one is worded a little better. It’s more REAL. More legal and binding. I don’t get the whole trial modification though. I don’t understand why they don’t just modify and be done with it.

I have to thank our attorney, Ken Gross of Thav Gross. You can follow him on Twitter here. He’s been fabulous, dealing with my constant barrage of emails. But, he helped get the job done and I’m forever grateful. For all of you in the same predicament that we were in, contact him. He’s absolutely the best.

I have to say, our “advocate to the President of Bank of America” was pretty darn amazing too. His name is Reuben Dunn. Request him, I think he is one of the rare ones that really do want to help. Either that or they just wanted to shut me up already!

But still. I’m going to remain very nervous until April.

So yeah. That’s the update. We get to stay put! We don’t have to pack up a bazillion boxes and move into my in-laws house. Phew.

In the meantime, I’m still on my mission. I will not rest until those who deserve to stay in their homes get to.

I’m still going to do my weekly Battling the Banks feature so, if you have a financial horror story you’d like to share, please email me at melissabrodsky at sbcglobal dot net.

Comments

comments

Comments

  1. Lydia says

    Congrats to you but be carful many people were put on a three month trial period and never modified or the three months became 18 months of trial payments. Make sure you stay on top of them and make sure you monitor how they post those payment.

  5. Maria says

    Good for you! All that hard work and speaking out paid off. I’m praying that it all goes well — just like it’s supposed to. Keep us posted!

  8. Nancy [Spinning my plates] says

    Congratulations! I hope this brings you a little peace on your piece of Earth. Fingers crossed for a final resolution and not an April Fool come this spring!
    Nancy [Spinning my plates]´s last blog post ..Merry Christmas

  12. Lisa Cash Hanson says

    Thanks For stopping by my blog today 🙂 We love our Christmas tree too !
    I would love to say what I think of B of A but I don’t want to muck up your comment section with hate comments ……I really can’t stand that bank.

    We switched to USAA and they are the most amazing company in the world. We still have some loans with B of A but I really loathe them.

    But I’ll believe they’ll do right by you 🙂

  13. Lisa Cash Hanson says

    BTW I’m from Detroit 🙂 Actually Taylor but people outside MI don’t know where that is so I always said I was from Detroit 🙂

    Rock on Motor City Mama!

  15. Jane M says

    amazing. and congrats. so happy someone has made progress. I am in 3 years, just wrote a letter today to Moynihan and cc’d congressman in my state, comptroller of currency, CEO of Radian (my pmi company) and president of Fannie Mae.

    all i want is an interest rate reduction to what banks are offering today.
    really happy for you.
    it pays to not give up.

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