MISLEADING LOAN MODIFICATION.
Complaint
Demetris Aspromallis
Country: United States
On or about May 25, 2010 I called BAC Home Loans to learn if I could get a modification to lower my payments. I was told that I was eligible for loan modification and I agreed to participate in the “Home Affordable Modification Program” (I was never told that BAC Home Loan is a participating servicer for my lender), which is a federal program introduced by the U.S.Department of the Treasury to assist at-risk homeowners restructure their mortgages to avoid foreclosure.
I spend months feeling “harassed,” “like a yo-yo,” and “blocked at every turn.” When I called BAC the information I received over the telephone often conflicted with written statements or prior telephone conversations. In many of the telephone calls BAC spun me in a labyrinth of transfers from one department to another and back again. I spent hundreds of hours on the telephone, explaining my stories to different person each time I called; often I was transferred between departments knowing I would never speak to the same person again, and wondering if the information I was provided would be contradicted by the next person I spoke with. Often, I requested to speak with supervisor or manager was met with resistance. During the course of telephone calls I often found myself disconnected after waiting on hold to speak to a supervisor, or I was told that no supervisors were available. I was asked to send and to sign the same documents three, four or even five times, and I asked to provide the same information repeatedly.
After almost 6 months On January 27, 2011 I received a letter telling me that they received my documents. Two days later on a letter dated January 29, 2011 stating that I was not eligible for a home Home Affordable Modification because I was current with my Mortgage Loan, although I already send a hardship and told that in order to be eligible for Home Affordable Modification I have to be current with my payments.
After that I began having difficulty making my mortgage payments. I made some payments on time, sometimes made partial payments and sometimes missed payments. BAC misapplied some of my payments even refused some of the payments I sent, and the result was to report me as delinquent to the credit agencies. I continue to applies for a Modification only to spend more months being shuffled through BAC “Home
Retention,” “HOPE”, departments with no resolution. I was assigned multiple
“Negotiators” who would not return telephone calls, or provide timely information.
I sought out face-to-face interviews by contacting Bank of America branch office, but simply found myself on speakerphones with the same unaccountable departments that had previously been providing them with misinformation by telephone.
On August 24, 2011 I received another denial the reason this time : “The workout assistance you have requested is not an option”
This event caused me a great amount of stress, over the course of my dealings with BAC, I suffered anxiety attacks for which I sought medical treatment and I am now on a medication.
As of today I received no help. Only to have a serious delinquency shown on my credit report.
I spend months feeling “harassed,” “like a yo-yo,” and “blocked at every turn.” When I called BAC the information I received over the telephone often conflicted with written statements or prior telephone conversations. In many of the telephone calls BAC spun me in a labyrinth of transfers from one department to another and back again. I spent hundreds of hours on the telephone, explaining my stories to different person each time I called; often I was transferred between departments knowing I would never speak to the same person again, and wondering if the information I was provided would be contradicted by the next person I spoke with. Often, I requested to speak with supervisor or manager was met with resistance. During the course of telephone calls I often found myself disconnected after waiting on hold to speak to a supervisor, or I was told that no supervisors were available. I was asked to send and to sign the same documents three, four or even five times, and I asked to provide the same information repeatedly.
After almost 6 months On January 27, 2011 I received a letter telling me that they received my documents. Two days later on a letter dated January 29, 2011 stating that I was not eligible for a home Home Affordable Modification because I was current with my Mortgage Loan, although I already send a hardship and told that in order to be eligible for Home Affordable Modification I have to be current with my payments.
After that I began having difficulty making my mortgage payments. I made some payments on time, sometimes made partial payments and sometimes missed payments. BAC misapplied some of my payments even refused some of the payments I sent, and the result was to report me as delinquent to the credit agencies. I continue to applies for a Modification only to spend more months being shuffled through BAC “Home
Retention,” “HOPE”, departments with no resolution. I was assigned multiple
“Negotiators” who would not return telephone calls, or provide timely information.
I sought out face-to-face interviews by contacting Bank of America branch office, but simply found myself on speakerphones with the same unaccountable departments that had previously been providing them with misinformation by telephone.
On August 24, 2011 I received another denial the reason this time : “The workout assistance you have requested is not an option”
This event caused me a great amount of stress, over the course of my dealings with BAC, I suffered anxiety attacks for which I sought medical treatment and I am now on a medication.
As of today I received no help. Only to have a serious delinquency shown on my credit report.
Comments
Have called at least once a week for months and told it was being reviewed.
Calling an attorney tomorrow because we just don't know what to do. They won't return our calls and their lawyer Trott and trott said we could fax them a letter which they could forward Because according to trott and trott Bank of America will no longer take our calls.
I have gone through hell with BOA and now they are "selling, transferring or hiring" my loan as of 7/1/2015 to a company called PennyLoans which has a bunch of old countrywide top execs. I need your help to help me define fraud, misrepresentation, false [stealing] charges to my escrow account, I have not been able to reconstruct the accounting behind the Modif closing amounts including the loan-money they obtained from the Obama plan, insurance double dip and stealing a refund, and so many other imprpietries I don't know where to start. I will send them a letter today 6/26/2015 planting my claim thinking that this way I will be able to pursue legally with them after they release to PennyLoan. Maybe you know of an attorney in Houston,TX that has gone to court against them before?
I hope you read this today arosentalatgugle and write to me
Thanks
Alex