I too have been dealing with the BAC Home Loans Servicing LP, HOPE Making Home Affordable Loan Modification Assistance Program. This process has been on going for 11 months. Yes - 11 months. BAC has also told me they lost my paperwork, let me transfer you, we dont have any answers, you are in review, we need additional paperwork even though you sent it in 6 previous times ago, Oh yeah, my favorite line - They called me and referenced me by a different name, asked for documents that only pertain to a self-employed individual (which I am not) and when I called them back they told me they had me confused with a different borrower with a different loan in a different state. Wow.
The following are the "ring-around-the-rosey" steps I have taken in just the last 6 weeks:
On April 23, 2011, I received a "suspicious" letter stating that my loan had been sold to another financial institute. I contacted BAC & they specifically told me that due to my modification review that my loan would not be sold and that this particular document could be fraud. I was instructed to send this suspicious letter and upon the BAC rep reviewing my modification request he suggested that I submit more documents of my current financial situation with another hardship letter and make sure that I detailed in my hardship letter every piece of documentation I was sending. This was a 19 page fax that I sent on 5/9/2011. I contacted BAC on 5/16/2011 & they confirmed they recieved all my documents again and they would forward to the Modification Retention Center.
May 11, 2011 I received a Fed Ex package stating that my appeal was honored - I had to request this "Appeal" since BAC lost my paperwork in March 2011 & confused me with another borrower..But this was my mistake??? This document stated that I would be contacted every 15 days with updates on my "Escalated Case".
May 23, 2011, recieved another Fed Ex packaged dated 5/20/11, stating BAC once again needed the same financial forms and paperwork that I sent to them in April 2011. This was a 25 page Fed Ex package returned to them on 5/24/2011, and received in their office on 5/26/2011. I also received on May 23, 2011, at the same time, a seperate Fed Ex package dated 5/21/2011, stating they had recieved my financial paperwork from 5/9/2011, and that I was in "review". There is no time line on this letter stating how long I have to wait to contact them to get a status update. It does recommend if I have any questions about the process to contact them directly.
May 31, 2011, I contacted BAC again to get a status update, and to my suprise I was told - "They dont know anything; I am in review; We cant help you. You need to speak to another department, ect...Go figure.
I have explained to BAC for the past 11 months that I want to keep my home, and want to work with them on sufficing my loan obligations. They basically tell me that at this time its all or nothing.
In the small rural community I live in located in South West Colorado, our Foreclosure status has hit over 200 homes since July 2010. Were some of these people BAC customers also? Over 20 business' have closed since January 2011 in the same community. I now have the opportunity to secure gainful employment in another state that would pay me more than the unemployement I am currently recieving, however, BAC told me if I move or rent my home out I will be disqualified for modification.
So I am too stay in my home, not afford to make the entire payment as my unemployment doesn't cover the whole mortgage, and give up an opportunity to make more money than my unemployment pays me, continue living in my home and have BAC harrass me every month because I have either not made the payment, or have only made a portion of the payment, because BAC has "Strung me along", for 11 months????? WTF!!!!!
Get this - 5/31/2011 10:44am MST I received a call from 877-200-6930 when I answered the call it was an automated call stating it was BAC & telling me to contact 866-459-5275 & give them a Personal Message Code regarding an important message regarding the status of my Modification. I called the 866-459-5275 & put in the Personal Message Code and the name that referenced was not mine...Amazing. When I called the 877-200-6930 number back I received a recording stating that number was invalid..Wierd right.. The recording stated to contact 800-669-6650.. Again "ring-around-the-rosey"..When I called the 6650 #, the representative stated that my phone number could have been crossed with another borrower, and he would need to transfer me to another department. Again WTF.. I stated I wanted to talk to the head of the BAC making home affordable program, CEO, President, whomever, someone higher up than who was helping me, and again when I was transfered I was told I was talking with the Retention Dept. I was told by this rep that I would need to speak to her supervisor to get to the Presidents Office of Home Loan & Insurance Team that is actually responsible for the Making Home Affordable program.
I have now been on the phone with BAC for 3 hours... I have to schedule 3 - 4 hours out of my day everytime I wish to speak with anyone at BAC Home Loans Servicing, LP, HOPE Making Home Affordable Program... This is absolutely ridiculous!!!!.. Time and Time again I get the same answers, which are nothing.. However, per thier phone calls and Fed Ex letters I am to respond in a timely fashion... What's so timely about a 3-4 hour phone conversation... NOTHING!!!!
The last rep I spoke to today stated he was a supervisor in the Retention Dept., however, there would be no way he could get me to the Office of the President Home Loan & Insurance Team Responsible for Making Home Affordable. He stated he didnt even know the higher supervisors names.
He explained that he too had no answers for me.. His attitude and willingness did change once I explained that I was going to contact my Attorney Generals office with this information, my lawyer, the local newspaper, local tv stations and the larger news affiliates. Wierd, he went on to say that he did find the information that Underwriting had approved me into the next phase, he couldn't tell me what that was. He did go on to say that the final outcome from my 11 month review process could or could not be a Trial payment phase or a permanent modification. I asked when would I receive this notification and he said he didnt want to give me a timeline. I asked, 10 days, 15 days, 1 month, 3 months, 6 months & he did FINALLY said it shouldnt be longer than 2 months.
Working with BAC has been the classic case of "Dangle the Carrot", and "Hurry Up & Wait"...
BAC Home Loan Servicing LP HOPE Making Home Affordable Customers - please keep all your documents and all your phone conversation documents. I have absolutley NO Trust and have a sick feeling that BAC is up to no good and really isnt going to help me.
I have sufficed all the document requests and then some. Now I am unable to make the full payment and I receive BAC reps phone calls stating they need the full payment..These phone calls end up being transferred and transferred and transferred. 11 months & still nothing..
BAC is messing with my lively hood, my familys well-being and an opportunity to make more money and keep myself and my family out of debt, foreclosure and bankruptcy. However, they keep telling me to wait.. I have waited long enough..