A major set back happened.
After a long and harried 18 months of trying to re modify our home back in June of 2012 we finally got an approval for trial payments. We made them on time, never missed one. I kept in contact with BANK OF AMERICA and they always said "they are working on permanent modification."
December, 28 2012 we got an approval letter with documents to sign by January 5, 2013. We didn't have a week to get them back. We signed them and not only sent them back over night, we faxed them in too. We were so happy this was finally moving forward.
We had been making our new modified payments. I kept calling Bank of America to find out why the internet wasn't updated. The rep assigned to us (we have had over 12 reps assigned to us. Each one said they would see us through to the end of this process. )
The local bank wouldn't take our payments because the modified amount wasn't in their computers. I would have to call the rep and get it auto deducted. They only let you talk to your rep assigned to you. I had to call only him to make the payments.
I thought everything was going just fine. Never missed a scheduled payment the past 12 months. Was in constant bi-weekly contact with the rep and then....... March 27 we got a letter saying our escrow was short??
How could it be short when they were supposed to roll every thing in?
We had 5 days to pay it or it would be added on to our payments. I called the rep AGAIN. He told me that the modification is in escalations and they were working it out. Not to pay the shortage.
LAST week we got a whole new package!! The same letter head and everything welcoming us to modification. The documents say we must accept by May 1 and make our first trial payment by APRIL 1 2013. Hello???? Isn't April almost over? Then the interest rate is higher! and the payments are higher, we can't afford it. Every one I call doesn't know what is going on.
Some how we owe 7,000 more than we did on our mortgage.
I was so frustrated that I actually wrote and sent an email to the President of the United States and The Federal Consumers Agency.
So we wait. Unable to fix our home up because we don't know if we are going to be here this Christmas.
After all of this I don't even know if I want to stay in this home but we owe more than twice than what the homes are selling for in our neighborhood.
Thank-you for reading this and letting me vent. I could have wrote a novel at ALL that has happened over the past 2 years, but I kept it to the short story....LOL