Credit Card Center Advertiser Disclosure

New Member
Posts: 4
Registered: ‎08-24-2012
0 Kudos

Advice on BOA Error & Foreclosure

[ Edited ]

Need advice on how to counter efforts by BOA to foreclose on a home.   After 2 years of working a remodification with BOA, the payments were said to be adjusted downwards by roughly $36.  The consultant who worked with the bank, was informed that no paperwork requiring signature had been received. The consultant informed the loan holder to keep making the payments and that the paperwork should arrive.  The remodified paypments were said to have started this past September.   Today, a letter of intent to foreclose was received from BOA. 


What's is very odd is that payments have NEVER been missed. Since the remodification was said to be completed in September, the payments have been made, less the $36 dollars as the loan holder was instructed by the the BOA consultant.  The mortgage payments of close to $2000 per month have been paid to BOA with bank records indicating their withdrawal.  On a phone call to the number listed on the intent letter - placed this evening - a BOA rep said they intend to foreclose Jan 7.  They could not explain what happend to payments that had been withdrawn.  The amount stated as being owed roughly $6600, seems to indicated that none of the made payments were applied.


If anyone can provide some guidance on how to proceed, it would be very much appreciated.  The loan holder in this case is a very dear friend who is beyond frustrated and scared.  She spent almost two years trying to get the remodification done, and thought it was all done but the signing of the contract which was never received and the bank themselves said they could not confirm if it was delivered.  Based on the letter receieved today, it doesn't sound as BOA intends try and make any sense of what's going on.  My friend is suppose to speak with the consultant who helped with the remodification, but she states that she has very little confidence in that persons ability to help, based on their prior conversations.


The home is a primary residence in Illinois.  The loan is an FHA underwritten loan.


Thanks for any guidance.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.