Loan modification taking over 6 months
Date: Wed, 01/13/2010 - 07:02
Our interest rate is too high but our payments are current. The lender is playing games with us. We held 2 months back hoping to get attention. They sent a courier to our home to inform us that they had "programs" to help if we were in trouble. Getting someone on the phone is like pulling teeth. We are now eligible for refinance but would not do it with this lender (Bank of A). Our original loan was with Countrywide but they were bought by our new lender. This new one doesn't seem to know what they're doing but they are ready to send couriers if you're late. I hate banks.
The experts keep changing their advice as to what people should do concerning loan modifications. Today they said it can hurt your credit profile. I am sick of all of it. I wouldn't buy another house unless I could do it for cash. What should we do now?
Have you tried to find out the reason? Most of the homeowner
Have you tried to find out the reason?
Most of the homeowners, who have applied for loan modification, aren't receiving it. There is a lot of confusion and lack of communication going on regarding mortgage modification.
Loan modification has to be on of the biggest scam I came across
Loan modification has to be on of the biggest scam I came across. Just flat out lie. I agree with the above poster. Their is big lack of communication amongst mortgage department.
Our loan mod process will be a YEAR in Aug of 21st..not time or
Our loan mod process will be a YEAR in Aug of 21st..not time or energy to go into this ridiculous nightmare..but still no decision and it is been the worrst experience of my life. Settling credit cards is cake compared to this. Banks are idiots. Doesn't matter who they are..they do not know what the hell they are doing.