Hope

I just got off the phone with BofA…Here’s the deal now: They said that we are in Pre-foreclosure (like I didn't know that). I accepted the Trial Payment plan through the Making Home Affordable Plan. The woman I spoke with today was very nice, very informative, and willing to give information without pulling any teeth:) She said the offer was still in my file from the last time I called and that she would submit it for review and Fed Ex docs to us about this Trial Period. Wait! The guy I spoke with last time said nothing about mailing us information. And when I asked, he said they wouldn't be mailing me anything! Ugh! Fire him!

It will take 90 biz days for them to review this and decide if they can help us. At this point, we do not make payments, but we save the money as if we are making the payments. After the investors review the Trial Period agreement and our paperwork/letters/income etc, we will then begin making the agreed upon Trial Period payments…. Then the investors will review again (for loan modification which includes extending the term, catching up what is past due, rate, etc) which then takes another 60 days. We make our trial payment until told otherwise.

So now I get to fax our current info to a “new” fax number, Attention: HOPE, and then call every 2 weeks to check the status of our Modification request. I am to ask if there is anything new and did they receive the docs we faxed? She didn't know how long I would need to call every 2 weeks, but said it would probably be the full 90 days before I got any info about the possibility of a loan mod.

She said, “We definitely want you to keep your home”. And then said the loan could still go into foreclosure. "If it does, and this isn’t resolved yet and they post a sale date for the foreclosure, we will request an extension to have time to finalize the loan mod."

So…let’s start saving!!! We can do this!!!