Bank of America Loan modification scam

bank of america foreclosure process is their way of collecting homes.

Bank of America wants to foreclose on your home and one way they do this is with the BOA home loan modification scam.

I have done a lot of research on Bank of America’s foreclosure scam over the last few years.

A simple search on the internet shows thousands of Bank of America (BOA) mortgage customer complaints. Do a search for  bank of america sucks and if you’re trying to do a loan modification through them, known as HAMP loan modification, please don’t waste your time!

Bank of America home loan modification is nothing more than a scam to foreclose on your home.

The Bank of America foreclosure process is always against you.

This post isn’t written out of anger (well part of it is), but, more importantly, to inform you what I have learned. I have read hundreds of bank of america reviews and stories from homeowners that bank of america (BOA) has put through hell and back.

Bank of America is nothing short of evil. Back in the 2007 housing crisis, recession, BOA was failing and crashing. The government didn’t want bank of america to fail since it would disrupt the economy, so they gave BOA 5 billion in funds to help bail out their mortgage loans. This money was supposed to be given to BOA’s homeowners to help lower their monthly payments via loan modification known as HAMP loan modification.

Mortgage Fraud! What bank owns your house / mortgage?

The HAMP loan modification is nothing more than a scam by bank of america. THIS IS FACT! Bank of America took the 5 billion and never helped anyone to save their home!

Bank of America kept 5 billion dollars given to them to help homeowners and setup the fake HAMP loan modification scam

Bank of America HAMP modification prerequesites

  1. You must miss 2 mortgage payments to show a hardship (ridiculous)
  2. You must fill out a mound of paperwork and mail back to them
  3. You must report to a modification rep assigned to you
  4. You will be notified if approved for a lower mortgage rate (this takes weeks)

While you miss 2 monthly mortgage payments, Bank of America is starting the foreclosure paperwork since you missed 2 monthly payments! Bank of America WANTS YOUR HOUSE!

All the loan modification paperwork you fill out, all the pay stubs you copy and all the tax records you submit are either “lost” by Bank of America or they claim you didn’t fill it out properly. This adds at least another month of stress and more paperwork for you. Meanwhile, you’re 2 or 3 months late on your mortgage!


The HAMP LOAN rep you are assigned will never take your calls and never return your voice mails.

How do I know this? I went through the process, and so have thousands of other Bank of America mortgage holders.

You are stuck doing paperwork for weeks that will never be seen. Bank of America is doing nothing more than stalling in order to force you into foreclosure.

If you are lucky enough to speak to someone about your situation (Bank of America never returns phone calls),  they will say you need to submit the paperwork a third time or you weren’t approved.

Now you’re 2 months or 3 months late with your mortgage payment. Bank of America wants those months paid in full within a month or you’re screwed! If you do not pay the money you are behind within a month they send a letter of intent to foreclose.

How do I know all this? I went through it and am still battling Bank of America now. I have also read for hours all the Bank of America horror stories from thousands of other homeowners.

How can you fight Bank of America?

If you file for bankruptcy (chapter 7), your debts will be wiped out including your home. The bank cannot come after you for the balance of your home loan. You can keep your car if you continue to make payments on it.

You are not responsible for the balance of your mortgage if you file chapter 7 bankruptcy.

If you file chapter 7 bankruptcy, the bank will stop reporting your monthly payments on your credit report. This is good if you decide to walk away from the mortgage due to foreclosure.

The foreclosure will not be reported on your credit report if you file chapter 7 bankruptcy before foreclosure.

I know you may not want to file for bankruptcy but it’s a fast easy process and your debts will be gone. You can stay in your home with bankruptcy as long as you continue to make your monthly payments. I highly suggest getting a good foreclosure attorney. Your attorney can find loopholes and battle Bank of America. You will be able to stay in your home longer with an attorney, mortgage free, and, possibly get you a lower rate. A lower mortgage rate is what you wanted in the first place.

If you choose to not keep your home, get a foreclosure attorney and work with them. You can stay in your home for free during the entire process of foreclosure. Save the money you were paying on your mortgage towards your next home.

If the bank wants you to reaffirm your mortgage, this puts you back into being responsible for the mortgage even though you filed for bankruptcy. This also includes refinancing the loan. NEVER REAFFIRM THE LOAN! Any good attorney will tell you this!

If you reaffirm the mortgage after bankruptcy, the bank will be able to come after you for the balance of the mortgage, and filing bankruptcy will not protect you.

Once you file for chapter 7 bankruptcy it’s important to NEVER sign anything from the bank that may hold you responsible for the loan moving forward, erasing your bankruptcy protection. It’s your attorney’s job now to deal with the bank, not you!

Never sign a letter of affirmation!

I was lucky to have an attorney to tell me this. Some attorneys will have you sign a letter of affirmation. DO NOT! Signing a letter of affirmation says you filed bankruptcy but still want to be responsible for the home. So when the bank forecloses you will be responsible for the balance of the loan!

If you receive an intent to foreclose from the bank it is highly recommended you get a foreclosure attorney. Get a GREAT foreclosure attorney. They can fight the bank every step of the way and keep you in your house RENT FREE for months. You can then save all the money you would be paying towards your mortgage every month for another home with another bank.

Never use Bank of America again!

Once you file bankruptcy, if you go that route, get a small credit card after a few months just to help build your credit. Use the 2 years in your home to save all that money before moving out.

I received a letter of intent to foreclose from Bank of America through no fault of my own! I missed the 2 months mortgage payments to show hardship (Bank of America says you need to stop making payments before they can help you, which is really messed up.)

During the Bank of America home loan modification process, BOA lost my loan modification paperwork. The second time BOA said I didn’t fill everything out in full. I know this is a lie. I filled EVERYTHING OUT!

Bank of America loan modification is meant to drag out the process to force you into foreclosure.

Bank of America says they lost the paperwork or you didn’t fill everything out in full. BOA does this to all loan modification applicants. This scam buys BOA time to foreclose on your home.

While you’re busy getting copies of everything Bank of America what they need for the loan modification scam, they are busy working on the foreclosure proceedings behind closed doors.

The third time, 2 years later, Bank of America had a clerical error on my mortgage and didn’t apply my monthly mortgage payment properly. They said it was their fault and apologized but unfortunately their mistake triggered the intent to foreclose letter.

Bank of America said there is nothing they can do to stop the foreclosure! REALLY?! They admitted their error that caused this mess and they “can’t stop it.”

Bank of America wants to foreclose on your home!

I have tried working with Bank of America for years and they would never work with me or their other mortgage customers. The final straw was their “clerical error” that forced us into foreclosure. I haven’t missed a mortgage payment in the 15 years of being in the house.

Bank of America wants houses and they want to foreclose on your home using their BOA home loan modification scam.

If BOA forecloses on your house, they are reimbursed by the government for it. Bank of America gets paid to collect houses. Bank of America loses no money.

I am not an attorney. Do your research. I wanted to spread the word on Bank of America like so many other homeowners have online.

Find yourself a good foreclosure attorney. They can help you stay in your home for free until the foreclosure process is over. Most banks, especially Bank of America, are incredibly disorganized and they rely on your fear of losing your home.

This is all true. Protect yourself and don’t let Bank of America win.

Bank of America has been sued big time by mass class action suits for this HAMP loan modification scam.

When I call Bank of America they always record everything you say. I make it a point to say I know this is a scam and I know what you are doing is wrong. I mention the class action lawsuits and bring up every their clerical errors they admitted to. Whether the BOA rep cares or not, you are on audio stating your facts.

Bank of America has foreclosed on the wrong homes in the past as well. They have bad records and very bad business practices.

Bank of America employees have been fired because they have morals and refuse to lie to customers.

All these are facts. Look it up and protect yourself!

I hope this post about how Bank of America wants to foreclose on your home has helped you.

I write about anything techy, music, photography, artsy and whatever I think you may find interesting.


Follow my blog here.