Comments on: Finishing Making Home Affordable…

By: Tina

Tina — Sun, 27 Feb 2011 00:55:41 +0000

I have just now read all of this. I have been trying to get on the Making Home Affordable plan since last April 2010. And needless to say am still trying, my original mortgage company sold my mortgage and I was supposed to be in the pre-trial period. So now I have started all over again, with the lost paperwork, sending the same thing over and over again to no avail. I have borrowed all the money I can just to make my house payment and have exhausted all of my option. I am ready to just give up and let the stupid house go, but unfortunately have nowhere else to go. I believe this Home Affordable Program is just there to waste people’s time and to give other people jobs in the art of “runaround” seriously I am so angry with all this hassle, I really no longer know what to do. There has to be a better way.

By: Gilda

Gilda — Fri, 11 Jun 2010 21:21:04 +0000

We just got turned down by BOA also. I really hate this bank and hope they go under one day. They only rated three stars (1-5 stars) at Bankrate.com which is rated as “performing” and I have seen them rated as low as a “D”.

They didn’t even notify us they had been turned down for the Making Home Affordable program. I had to keep calling and calling until they said, oh, yeah…we turned you down.

I would like to complain to my congressman or senator but they are both a joke.

I think BOA are a bunch of crooks, and this whole Making Home Affordable program should be investigated.

They should definitely include the second mortage on the home. Why do they think they call it a second mortgage, anyway.

Call me steamed.

By: Sarah

Sarah — Fri, 26 Mar 2010 18:24:01 +0000

Have you contacted another bank? Our mortgage is through Chase and we have really enjoyed doing business with them. Also, Wells Fargo has made us an offer (one of our cars is financed with them) to reduce our percentage rate to 4.25% for 15 years, something that we would gladly do even though the payment would be about $200 higher per month. They told us that it was based mainly off of our credit score. We want to do it but we’re waiting to pay down some more debt before we take on a higher payment.

BOA is awful, in our opinion. They screwed me over about 7 years ago and now I have trouble getting a checking account. My husband had a checking, savings and credit card with them and we constantly had problems. We closed all the accounts last month but instead of closing them, they zeroed them out and are trying to charge us fees for not maintaining the minimum balance and then interest on top of that! I hate BOA.

By: Susan

Susan — Tue, 16 Mar 2010 22:00:01 +0000

A friend of mine just re-fied her interest only, adjustable rate mortgage using the above program. When the appraiser came, she had comparables for him plus all the receipts for the capital improvements she had made. I don’t know their financial situation, but she definately feels blessed. So, it is working for some people. She and her husband are both employed, too.

By: Alison@This Wasn't In The Plan

Alison@This Wasn't In The Plan — Mon, 15 Mar 2010 19:19:51 +0000

We’re in that same category, spending more than we really would like to on our mortgage payments, but not having trouble paying it each month.

The worst thing is that every few weeks we receive a letter in the mail from BofA telling us that we should give them a call because we could be eligible for such programs. We did call the very first time we got this letter and they pretty much laughed at us. We weren’t behind on our payments so why on earth would we need any assistance? But why must they keep sending this letter?

By: chitown

chitown — Mon, 15 Mar 2010 16:47:44 +0000

Unfortunately, I don’t think the majority of these programs are really helping people.

By: Mysti

Mysti — Mon, 15 Mar 2010 12:03:42 +0000

I am sorry that for all the aggravation, you weren’t even able to do it. How annoying!

We were not eligible for the program because our mortgage isn’t owned by Sallie or Freddie. And unless we could come up with around 10k in cash for closing….no refi for us. We are also in a situation where we can “afford” the payment (at 7.5%!!) but wish we weren’t in this situation.

Why do banks make it all or nothing? You either have to be REALLY bad off, or you get nada.