BofA HELOC Mod Denied, After modifying 1st

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    Really confused! I have a 1st and HELOC with BofA. With NACA’s help we got a permanent modification on the 1st. Now that I’ve applied for the HELOC modification they declined me on the HELOC mod due to the fact that my 1st is affordable. Yes, the 1st is now affordable but NOT in combination with the HELOC payment. Please help me understand my options.


    Hello nacasark,

    You simply are going to have to apply for modification on the HELOC again. Something doesn’t quite add up in the reason you related for the denial though. Servicers never modify a second/HELOC until after the first has been modified, so denying you for the reason you stated simply doesn’t make a lot of sense. If it did, then no second would ever get modified.

    Are you sure that they didn’t decline the modification because after the modification on the first mortgage, the HELOC is now affordable? They may have looked at total DTI (Debt To Income) Ratio after the modification and determined it was already within their guidelines. That is an entirely different situation.

    In either case, you are simply going to have to try again with BOA to get the second loan modified. Please feel free to e-mail me if you have any additional questions.


    Tim Trumble
    Online Operations, NACA

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