Can I Apply To B Of A For A HAMP Loan Modification A Second Time?
(California, United States)
I was declined for a HAMP loan modification in November of 2010 because of Negative NPV. The letter from B of A stated that they would contact me within 10 days to let me know what other steps to take and what other programs may be available.
Bank of America never contacted me, but I did finally contact them and applied for another loan modification.
During this time I have continued to make the trial modification payments that are about $400 a month less than the full mortgage payment.
B of A just made me an in-house loan mod offer that raises the full mortgage payment by $600 a month, which means I would have to pay $1000/mo more than I have been paying for the past year.
I cannot make this payment. I have increased my income a little since the original HAMP application.
Can I apply for a HAMP loan modification again with this new financial information?
Bank of America Mortgage Loan Modification Answer:
by B of A Mortgage Loan Modification Expert - Dan North
What Bank of America is offering you is not a loan modification but is a repayment plan. You will still have the same mortgage contract after you get caught up with payments.
Yes You Can Re-Apply For HAMP Modification
If Turned Down
My first suggestion is do not sign the new loan modification agreement, make a note on the agreement that corrections needed see attached QWR. Read and follow the directions on sending Qualified Written Requests at How To Save House From Foreclosure - 3 Ways To Stop A Foreclosure Auction
If You Are Now Ready To Hire A
Pro Loan Modification Negotiator
You can do it all yourself but if you are at the point you feel you may need a professional California loan mod negotiator
go ahead and fill out the application at that link, they are fully compliant and do not charge any up-front fees.
I also have a Loan Modification negotiator that specializes in Bank Of America mortgage modification, he provides free B of A loan modification for his credit repair clients and gets very good results with B of A. Contact me through this link and ask for free Bank of America Loan Modification
Related BofA Modification Questions & Answers:
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