I know this is gay, but... Bank of Amer related

[Skidog]

Please read my blog...I know totally gay, but i want to get this some exposure.

let the flames fly if you feel the need...


http://ihatebofa.blogspot.com/2010/0...f-bank-of.html

please be gentle.

[Art Shirk]

I didnt read your blog but I am sure its the same thing that happens to everyone. You are in a good faith payment period for 3 months and then get booted with no mod, nor will they tell you want the mod will be once three payments post. Its pretty infuriating for some folks because you are often told one thing but get another. The legislature made a specific carve-out that no verbal reps from these guys are binding (tossing quasi-contractual actions for detrimental reliance out the door).

Without ANY discussion of what is fair, ethical, etc, and without offering any legal advice, there is NO incentive for these people to give you a mod if you keep paying them. They will just keep moving the goal posts. That simple. If you want to apply pressure, your pocketbook is much more powerful than blogging.

[Missing Sock]

Please read my blog...I know totally gay, but i want to get this some exposure.

let the flames fly if you feel the need...


http://ihatebofa.blogspot.com/2010/0...f-bank-of.html

please be gentle.

hope you proofread your submitted paper work better than you did this blog.

"Trails and tribulations"

"Barak Obama"

Tough situation though. Best of luck getting it resolved.

[Poop~Ghost]

As much shit stirring as skidog does - especially in the boring ass summer - he's been incredibly generous to me. I took a trip out to UT this last winter and he put me up at his place, fed me steaks and toured me all around his secret stashes. An amazing get-away vacation and he and his wife (and daughter) were really awesome people.

Getting the never-ending run around from BofA on this loan mod is so lame and seems to be the massive majority of people's experiences.

[Skidog]

hope you proofread your submitted paper work better than you did this blog.

"Trails and tribulations"

"Barak Obama"

Tough situation though. Best of luck getting it resolved.

LOL thanks...fixed the errors....i think faster and usually more accurately than i type...

Again though...flame on...its my first attempt at real "blogging" im sure ill lose interest FAST.

[AKPogue]

This shit happens all the time!!!

[DoWork]

If you DON'T hate BoA, you haven't done business with them. They are the schiestiest bunch of fuckers out there. They make crackwhores look honest.

[MakeFast]

This article in McSweeney's is mostly about a young attorney, but he is working through a similar thing as you. You aren't alone.

[liv2ski]

Didn't read your blog, but if it is you looking for a loan mod, I would say good fucking luck.
Until the rules are changed where the lender gives you a reduction in principle today and hence a lower payment in exchange for a shared equity agreement, as in they get their principle back at some future time when prices go back up and you sell or refi, why the fuck would they be in a big hurry to mod your loan? In their shoes, I would tell a person to pay their loan, as originally agreed to or do a short sale and get the fuck out.

[mock1]

If you DON'T hate BoA, you haven't done business with them. They are the schiestiest bunch of fuckers out there. They make crackwhores look honest.

Agree most wholeheartedly. I wish I had the bucks to pay these bloodsuckers off and never do business with them again. But then again, it's true throughout the whole banking industry.

[jm2e]

They make crackwhores look honest.

I always thought crackwhores seemed pretty darn honest. Someone gives them crack.....and they fuck. Ain't a more honest transaction than that. Goods for services. I mean, what are they going to do, take back the fuck?

[Garrett]

BofA sucks, I ditched them back in '02 and haven't looked back.

That said, how about demonstrating some personal responsibility and buying a house you can actually afford? I've been living in the ghetto for years now saving to buy some land, obviously I should have just bought some big shiny house and whined about how the evil bank was making it hard for me not to default on my loan

[Skidog]

Didn't read your blog, but if it is you looking for a loan mod, I would say good fucking luck.
Until the rules are changed where the lender gives you a reduction in principle today and hence a lower payment in exchange for a shared equity agreement, as in they get their principle back at some future time when prices go back up and you sell or refi, why the fuck would they be in a big hurry to mod your loan? In their shoes, I would tell a person to pay their loan, as originally agreed to or do a short sale and get the fuck out.

Yeah this is what would happen if a "government sponsored" program wasnt created. However WE (the taxpayers) bailed out all these banks INLCUDING Bank of America, what did that get me? Obviously nothing. They are also getting money from the government to modify these loans.

In most cases what they do is lower the interest rate and extend the terms.

For the record. I am NOT looking for a handout. If you had read the blog you'd know i tried EVERYTHING in my power to get a conventional refinance. I DID NOT go with an ARM type loan for the original loan (30 year fixed @ 6.0%). I am willing to pay the bank EVERY damned penny i borrowed no doubt. I just need the adjustment to get me through the tough time in the economy. Heck if i could just get the mortgage people to see that giving me a re fi at the current rates would allow me to pay the loan on time and in full i'd be golden. However they follow a set of rules that seems like they have blinders on. "youre debt to income ratio is too high we can't re finance you", umm yeah no shit...im trying to re-fi so that my debt to income ratio isnt so high...

Oh well...I did the blog just to document my experiences with this mess that is the "making homes affordable" program. Basically i think the bank just wants you to QUIT and default or short sale. I can't, for the life of me, understand why the bank would want to own a property that right now isnt worth what i paid for it? That might be just what they get though...JINGLE MAIL.........or what i believe they are calling now a "strategic default"

[peterslovo]

If you DON'T hate BoA, you haven't done business with them. They are the schiestiest bunch of fuckers out there. They make crackwhores look honest.

Not really a comparison. Crack whores are quite honest - they just want more rock.

[Skidog]

BofA sucks, I ditched them back in '02 and haven't looked back.

That said, how about demonstrating some personal responsibility and buying a house you can actually afford? I've been living in the ghetto for years now saving to buy some land, obviously I should have just bought some big shiny house and whined about how the evil bank was making it hard for me not to default on my loan

HEY DOUCHE...go read the blog...

My wife lost her damned job ( i personally believe due to pregnancy but doesnt look like we have a case). we were WELL WITHIN our means with her salary and mine combined. Hell i shudder to think of where i'd be had i taken the amount the bank actually approved me for. Now that the extra $36K is gone...i can't afford it.... If i had known the job market would turn so sour due to bailouts and a depression, and the housing market would tank. I may have done things differently, but to make a statement like that?? You're just a useless douche.

I am actually pretty damned anal about fiscal responsibility. I try to carry little to no debt and pay my bills on time.

Carry on.

[Garrett]

You don't have a right to property you can't afford. I'm sorry your wife lost her job, but I'm positive there are homes you CAN afford out there. Oh, but your house is worth less than when you bought it? Gee, who would have thought investment involved risk of loss?

I love when people live to the extent of their means and then try and blame undesirable circumstance on anyone but themselves.

[Skidog]

You don't have a right to property you can't afford. I'm sorry your wife lost her job, but I'm positive there are homes you CAN afford out there. Oh, but your house is worth less than when you bought it? Gee, who would have thought investment involved risk of loss?

I love when people live to the extent of their means and then try and blame undesirable circumstance on anyone but themselves.

Thats the thing douche...i CAN afford it....id love them to re-fi me at the lower interest rates and ill pay the closing costs im not asking for a handout, but if the mortgage people wont work with me then theres nothing i can do.
Its either pay the mortgage in full and not eat or get a lower payment. I, again stress that i have no problem paying the bank what i borrowed. I dont want anything "free" or forgiven, i just want it "adjusted"....when i sell or pay off the loan i expect it to be for the amount i originally borrowed.

Dude..ive bought and sold 4 houses in my short life. when you buy your first let me know they you can blow all your shit. I know real estate is an investment, but remember this was a bubble and it burst. False raised home values then a huge market downturn. I am not looking to get out and take profits, and if it comes to it you know what? Ill FUCK THE BANK..They'll get jingle mail for sure. My tax dollars kept them afloat, now its my fucking turn, or did YOU forget that you helped bail them out? I think i know what i can and cannot afford. Did you predict the downturn in the job market and the economy bottom out? Hmmm yeah thats the first thing i thought of..."wow what if my wife loses her job?" ummm under normal economic times she'd have ZERO issues finding another job at the same or close to the same pay. Hmmm well the economy shit the bed, we're at RECORD high unemployment, and hardly anyone is hiring. You going to shit on college kids who took out loans to go to school, that they can't pay because there are no jobs? Youre fucking retarded simple as that. My wife is actively looking for work. If/when she finds it we'll be fine, but i can't do anything about that right now.

You tell me? Could i afford a "$290K house when i was making roughly $120K/yr? I think thats WELL within the means.

[liv2ski]

Skidog, came back to your thread and I am sorry to read your in a tough spot with the wife out of work. That said, you will have to choose your poison. Either you stop making the mortgage payment to bring them back to the interest rate reset table or you do a short sale. In your shoes, I would probably try do the short sale and maintain my good credit, but you may need to go down a few payments just to get the ok on a short sale. Sucks, but that seems to be the way it is.
Good luck. (For realz)

[Skidog]

Skidog, came back to your thread and I am sorry to read your in a tough spot with the wife out of work. That said, you will have to choose your poison. Either you stop making the mortgage payment to bring them back to the interest rate reset table or you do a short sale. In your shoes, I would probably try do the short sale and maintain my good credit, but you may need to go down a few payments just to get the ok on a short sale. Sucks, but that seems to be the way it is.
Good luck. (For realz)

thanks i been thinking all along the only way to get these fuckers to listen is to STOP PAYING. Thats just not in my nature. I was very worried about missing payments and it effecting my credit...well shit...they've already done that. All they while they report you as in default even while under the modification program.....i might as well stop paying...

Im not looking to move thats why i dont want the short sale, but if it comes to that...what choice do i have.

Thanks again for the support. I truly did NOT fall into the "house trap" that cause the bubble to burst...in fact that bursting bubble probably cost me some money on my last house sale..... oh well...thats investing.

Keep the responses coming...good or bad..i expect it.

[mcsquared]

This may be a stupid question and I am not trying to be a dick. But will a refi really help? After reading into a couple of your responses, you are already at a fixed rate of ~6%. What will a refi save you? A hundred bucks a month or so? And the refi will cost you how much in fees etc. BOA is constantly sending me offers to refinance one property I already have financed through them. But they want me to pay $4k to refi which will save me $80 a month and push the loan out even further. I am about 4 years in on that mortgage a my payments are just starting to put a dent in principal. Why would I want to start over? Seems like there are easier ways to save/make a 100-200 bucks a month.

[frozenwater]

I just started the paperwork on a refi with BofA.

I was at 6.5% and will drop down to 4.85% It will cost me $2,300.00 to do so. With that big of an interest rate drop my payback on that $2.3K is 16 months.

Pretty sure I will still be stuck in this place for at least 3 years so it made sense for me.

This isn't a special program though, just a straight refinance. Hopefully it goes smother than what you are experiencing.

[Garrett]

Thats the thing douche...i CAN afford it....id love them to re-fi me at the lower interest rates and ill pay the closing costs im not asking for a handout, but if the mortgage people wont work with me then theres nothing i can do.

Where'd you get the idea that you are entitled to a refinance? You can't afford THIS mortgage. Part of the risk you took when you signed the papers was that financing isn't always going to be available to you.

Its either pay the mortgage in full and not eat or get a lower payment.

Bullshit. Because you and the wife both drive paid off beaters. And drink grape drink. Yeah right. I'd have a whole lot more sympathy for you if you didn't overstate everything and make it seem like the evil bank is forcing you to forego running water. You still have it better than oh, say, fifty percent of the country...including most of my neighbors. Have some humility.

Dude..ive bought and sold 4 houses in my short life. when you buy your first let me know they you can blow all your shit.

Not sure how that is supposed to read, but I'll just remind you I've got cash in the bank and enough on hand to live a comfortable lifestyle despite not working a "real" job and travelling about 10 weeks a year. Partially because I decided not to "invest" in a bubble.

The last couple years have been a real bonanza of me buying nice things at steep discounts from folks who could no longer pay for it. I do, however, live in the ghetto. As ghettos go it isn't too bad.

I know real estate is an investment, but remember this was a bubble and it burst. False raised home values then a huge market downturn.

Uh, yeah, you made a shitty investment, and you don't seem to actually understand the risks that were involved, or at the very least you seem unable to take PERSONAL responsibility for those individual and systemic risks you signed on for.

I am not looking to get out and take profits, and if it comes to it you know what? Ill FUCK THE BANK..They'll get jingle mail for sure. My tax dollars kept them afloat, now its my fucking turn, or did YOU forget that you helped bail them out? I think i know what i can and cannot afford. Did you predict the downturn in the job market and the economy bottom out? Hmmm yeah thats the first thing i thought of..."wow what if my wife loses her job?" ummm under normal economic times she'd have ZERO issues finding another job at the same or close to the same pay. Hmmm well the economy shit the bed, we're at RECORD high unemployment, and hardly anyone is hiring. You going to shit on college kids who took out loans to go to school, that they can't pay because there are no jobs? Youre fucking retarded simple as that. My wife is actively looking for work. If/when she finds it we'll be fine, but i can't do anything about that right now.

You tell me? Could i afford a "$290K house when i was making roughly $120K/yr? I think thats WELL within the means.

All that and I'm supposedly the douche here?

A couple comments: I was vehemenently waving-the-pitchforks opposed to all the bailouts from before most people knew what was coming. I still get irate every time I visit Stowe knowing those assholes got to keep that gem thanks to my tax dollars. And yes, you absolutely SHOULD HAVE considered that one of you might be put out of work and not be able to find similar pay elsewhere. That is ALWAYS a risk, even in good times, and newsflash, an economic downturn and "jobless recovery" is not exactly an unprecedented occurence. Doesn't mean you shouldn't have bought the house, but it does mean you should take a little more responsibility for your current predicament.

Good luck, I honestly mean that.

[WICS]

Bummer, dude. Good luck.






(FWIW, over 35% of federal tax revenues come from corporations. The next 55% are paid by the top 5% richest Americans. The rest of us 95% of Americans --i.e. making less than $300k p.a.-- are footing less than 10% of these auto bailouts.)

[bklyn]

I hear a lodge up at Alta is hiring...

[skiballs]

I hear a lodge up at Alta is hiring...

damn, bklyn that's down right mean.
yet funny.