Is that legal? Are they attempting to screw your next payment or would they apply it as being payed for the next sum due? Either way, sounds shystie and purposeful. Be careful - this may be a way to disallow you if the trial conditions indicate they can make payment notifications willy-nilly throughout that period. Someone might have changed your payment schedule already.

RLR if they changed the payment schedule they have not notified me in writing, yes they are trying to get extra payments out of me which would screw up my ability to stay on the official payment schedule. I won't fall for it but if I have extra money laying around I will go ahead and pay them more so it cuts down on the total loan amount when the modification goes into effect but only if I can afford it. The thing is they are not counting trial payments so they are saying I am falling farther behind even while I make payments. Only one of many reasons I hate BOA. My business (the one I own and run not the full time job that provides my insurance) will not take checks from BOA because they are such a pain in the ass about them and I don't want to pay their fees. If you bank with BOA you pay me by CC or cash period.

RLR if they changed the payment schedule they have not notified me in writing, yes they are trying to get extra payments out of me which would screw up my ability to stay on the official payment schedule. I won't fall for it but if I have extra money laying around I will go ahead and pay them more so it cuts down on the total loan amount when the modification goes into effect but only if I can afford it. The thing is they are not counting trial payments so they are saying I am falling farther behind even while I make payments. Only one of many reasons I hate BOA. My business (the one I own and run not the full time job that provides my insurance) will not take checks from BOA because they are such a pain in the ass about them and I don't want to pay their fees. If you bank with BOA you pay me by CC or cash period.
#2 | Posted by TaoWarrior at 2010-03-13 03:17 PM

How bureaucratic - the trial payments don't count. What bullshit. Perhaps BOA are also purposefully forcing their clients to utilize third-party checking services? I wouldn't put anything past them.

Credit Unions are luckily the only "banks" I deal with.:]

What a bummer dude.

Can you call HUD and complain and get it fixed?

Did you get the name of the rep who called you?

Nope didn't think to at first and when he started trying to bully me into making a payment I got so pissed I forgot. What BOA doesn't know is that I do not bully. I may try calling HUD to see if they are allowed to do that.

Perhaps BOA are also purposefully forcing their clients to utilize third-party checking services?

No what they are trying to do is make it so I don't qualify for MHA due to too many past due payments. Thats part of why I will call HUD on monday to make sure that they can't disqualify me because of that mess. If they can kick me out of the MHA plan by claiming I wasn't making payments when I am making trial payments then no wonder there is such a low success rate to the program.

I suspect BOA is having financial troubles lately. I was in a branch the other day and they have a notice up they are changing their FDIC coverage, lowering it to the bare minimum ($250,000, if I recal). Why do that if they were not worried about cutting corners?
To be fair, maybe it was just that branch or this state's BOA doing that, but it made me wonder.

A friend of mine recently completed a mortgage modification under that program. It took him more than a year of red tape and hassle, and he had the advantage of his law degree to help him recognize the tricks the bank was trying to pull.

At one point, the bank insisted that his history of current payments was too strong to get the modification. Banks say all kinds of weird stuff in these modifications, probably to discourage people from getting them.

But in the end he got one.

"Someone might have changed your payment schedule already."

Not sure if this helps, but you may have been on the cusp of the next months cycle for payment. I don't know if they changed your due date from the original Note agreement and started the new due dates according to the program. Go online and check the status of your account. It should have an update on the original account, or it should reflect the new account if in fact there is a new one set up. Contact the original counselor you spoke with and see if they can help, make sure you tell them it was their job to guide you through the process.

The originial counselor is out of business and no one at the company will call me back. My originial Loan was with Country Wide so I do not have any real contacts at BOA. I am also going to try getting the name of my moms account counsleor she has a plus or gold or whatever they call the accounts of people who keep way to much money in the bank and not invested.

#9...
Doesn't matter about Countrywide now that they are BofA. Go on line and access your account. It will have the history and current up to date numbers regarding the loan.

Find out who BofA farms the counseling to if it is not done in house. Tell them you need a copy of the original contract verifying you have met with a counselor, that you either signed or initialed.

#10,

I'll try it thanks.

I don't have online access to BOA I have to set up a new account but that should be easy. I have my original paperwork I will dig up. Then get them to send me their paperwork and match it up. (that should be fun I found out at least three other companies own parts of my loan)

#11...
Yeah they are bought and sold, which helped create the housing mess. You should have an account at BofA and is accesible by your name and social security number or account number. Look at one of the statements you have when you made a mortgage payment, it might have the site listed. If not, like you said, it is simple to open one and access your information. Hope it works out for you.

Diablo FDIC insurance limits are set by the FDIC, and no one else. They are at 250,000 for one account. Higher for IRA's, and multiple accounts can be set up with spouse, children, and In Trust For accounts, allowing coverage way over the 250K.

If they were higher then that, it's normally after a takeover of another depository, when 'both' accounts (the takeover and the parent bank) are covered. When the grandfathering runs out, or the first account matures, the limit reverts back to the 250K.

Individual limits are set to revert back to 100K 12.31.2013

Tao I can not pull up the link, but that doesn't sound right. If things are tight, you may want to call them and say you are going to stop payments all together. Demand they recap your principal (downward!) to the curr market value of your house!