B of A stalling my application

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    I have a load with Bank of America and since February I applied for a loan modification, or a loan restructuring because I fell behind my payments. B of A have switched me Customer manager representatives 4 TIMES. Each time they switch a new Representative they are making me send more papers and/ more stuff. I get the feeling they start over with me each time. So far they haven’t stopped the process of foreclosing my home. I did two payments two weeks ago and I got a letter stating “thank you for your payment but unless you paid the remaining overdue balance the foreclosure procedures will continue.
    I applied for the DOJ program but I haven’t received and answer yet. Today I have a lady come by my house saying my bank sent her to take a picture of my house. She didn’t tell me why.
    Is the bank getting ready to proceed on the foreclosure of my house?
    Is B of A stalling so I lose my home?
    I tried to call NACA to get advice but I can never get through. I don’t want to lose my home so if there is a better way to contact NACA please let me know.


    Hello hugohurtado,

    You are unfortunately a nearly classic example of what people go through when trying to get a modification on their own.

    First, thoughts like “Is B of A stalling so I lose my home?” simply have to stop. While there is a point at which they will begin foreclosure, the bank does not want to take your home because they will lose thousands of dollars in the process. They are not deliberately stalling for that or any other reason.

    The banks are unwieldy and poorly organized, but thinking they deliberately want to take your home is completely off track and is in fact very dangerous. I have seen homeowners who react to something the bank does with that mindset and frequently make the worst possible decision as a result.

    You don’t really specify if you are already a NACA member. If you are not, you can start the process of working through NACA by going to our website, http://www.naca.com and clicking on the blue “Home Save” button. If you are already a NACA member, please send me your name and NACA ID number at the e-mail address below so I can review your file and properly advise you.


    Tim Trumble
    Online Operations, NACA

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