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Jul 1, 2013

jdrissel Profile

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Bank of America

Bank of America suit under scrutiny of settlement watchdog

My first application was shredded when it was received a few days late. I would not have risked my life to drive to FedEx in the middle of the night in bad weather while sick if the representative of BoA had been honest about what we needed to do. We kept calling and they kept telling us that the papers were in “in-processing”. After about 6 months they finally told us that the papers had been shredded the next day because they were past the return by date. We immediately applied again. This set of papers was in progress for about 4 months before there suddenly was not record of a modification application in the system when we made our weekly call to check on things. Cue up application number three. They had a nice new wrinkle, they listed the house for foreclosure sale on a date between when they sent the modification papers and when they were to be returned by. It took help from my Senator's office to get them to remove my house from the sale list. It only took them three months to loose this application. We tried again as the representative told us that they had hired a lot of people and thing we going a lot smoother now. This application was in process for about a year before it also vanished. We hired Phoenix Financial Solutions to navigate the process for us. We paid $2400 to them for this service. After almost a year and a half they got us a modification trial period. We called on the due date (which was also payday) and made our payment. We checked the bank and called back every day because the money was still in our account. Finally on the fourth day the BoA rep told us the payment was declined. Upon further investigation we discovered that they had not used the routing number we provided. Shredding a check or corrupting a routing number is a classic move for a dishonest creditor to make when they can benefit from the debtor being late. We immediately made another payment, this one cleared in a matter of hours. We continued making the payments every month and have been doing so for almost two years now. However about a year after that first payment we received a letter telling us that we were no longer in modification because we had failed to accept any of their offers. We were completely blindsided. What on earth could that mean? It took over a week of calling every day to find out that they had declined our modification because that first payment was late. We also found out that there is weasel wording in the modification agreement that effectively makes any payment made after the day before the due date late. Since then we have applied for modification twice more, one modification vanished, the other was for a plan that we did not qualify for due to making too much money. Now BoA tells us that we do not qualify for any of their modification plans because they lowered the amount that they were willing to work with. To say that BoA has not dealt with me in good faith is an understatement.  (Jul 1, 2013 | post #1)