The issue of mortgage loan modification?

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March of last year, I lost my job due to the fault of my own business went biz. I have a mortgage, where is my April is 9%. In July, I called Bank of America, where I bank and ask to refinance, he said they do not receive, because the one we owe 155k 120k house is worth and I’m on unemployment . He offered the program and making homes affordable for me to go on loan modification department. I talked to them and they took all my income and expenses on the phone and they asked me to fax payslips, letter constraint proff unemployment. They said it takes 30-45 days to see details. Can not hear anything from them, and so I called the day of 45, they said they have not yet examined. I thought it was done, we clean our payment on time each month. Then last week, the envelope of the Fed-Ex showed in a one-page letter from BoA letting us know what our study, giving a first trial in 1600 to pay taxes 1090, he also said that a few days after you get older. Yesterday, the second November II package was presented to all Fed Ex to see the list at this time thicker heels over pay, tax documents, etc.. It was also three Cupón with the trial because one of the first payment in December 1077, January 1 February 1 I have not paid anything yet November. So I went online to make the payment and it was blocked in November and said in # 1866 because it is a special account curmenstance. I called in spoke with a representative, they told me that you now have a trial, he asked for payment, they can set up direct debit, which tells me they are designed to be compiled December 1 I asked to pay in November I have not one, “he said, do not worry about it. I also asked if it would hurt my credit score, “he said, no way it hurts a credit score. The only way to harm your score if you do not pay taxes in his study. I read that some people took the credit, even if it struck with the lender that is not spoken. I recently received an offer of credit, which gave me 4.99% until balance is paid in full, they gave me a check to my credit on my bank account was 7k. I hate being late for my loan to my credit card company to return with a universal Clase defuate my Jack and April. Do you think they could publish it in its written comments or thoughts would save suheldes.Kõik tore.Tänu

  1. Reply
    January 25, 2011 at 7:28 am

    Just to be nit picky: please learn to write in paragraphs, and people appreciate when you edit and summarize. There: I got that off my chest.

    OK, to answer your question: since you are basically doing a re-fi or loan modification, read the good faith estimate (RESPA) form which came in the “thicker package”.
    That would have spelled out all the payment information, break down of principal and interest, and when the first monthly payment is due.

    No doubt it says right there that the prepaid interest and all other fees are rolled into your loan and the first payment due is 12/1/09. That would be why there is no payment due in November.

    The paperwork can be daunting, but take an hour out of your life to familiarize yourself with it. Your house is probably your biggest investment so make the effort.

  2. Reply
    Janet P
    January 25, 2011 at 8:09 am

    They did a forebearance, this is all perfectly normal. You do not have a payment for Nov, make the Dec one as agreed.

    DO NOT mess up on any of these trial payments. This is your second chance, there won’t be another one.

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