Countrywide/ Bank of America Home Loan Unsecured>?

Ha! We bought our house in 2008 and closed through CountryWide. Then of course it was transferred to BoA. However, when we tried to ask for help it was always the same question. Well how far behind are you? Well technically we aren't behind yet but we are gonna be and this process will continue unless we get some help. We were lied to when we tried to refinance-it was a big huge mess and J. by chance I got something in the mail for a Streamline Refinance and it was easy cheesy. I ended up getting our money back on the appraisal through BoA which I have heard is unheard of ....but they knew they had screwed everything up and told us a bunch of donkey lies.....we now have Wells Fargo and are much happier. That is who the broker sold it to when we refinanced through the program we did. It's my understanding though that it's no longer available. Of course I know you are not interested in a Refinance you J. want to rid of the mortgage and I had heard of that too and even read a story about a lady that had done that exact same thing for over 50 years! I read it on yahoo but now I cann't remember what happened or even how long ago it was. It's something I would check into for sure but let M. say this if it quacks like a duck it probably is a duck.

It won't get you out of a foreclosure, but it might extend it longer while the paperwork is sorted out.

However, BofA is one of the lenders who is somewhat willing to work with people to modify mortgages. It's not an easy process by any means - you will have to stay on top of the process and fight for every last thing, BUT if you're qualified, you may be able to have your mortgage modified and stay in your home. I have a friend who actually successfully got $600/month taken off her payment for the next 5 years. (But she had to make about 200 phone calls to get that negotiated!)

I disagree w/ Catherine (with my parents situation anyways and I'm sure there are a lot of others in the same boat). BoA is hard as heck to deal w/ to get a remod or any type of help. My parents filed bankrupcy, and sent in remod paperwork atleast (that I know of) 4 times. They didn't want to lose their house. BoA would never work with them, denied them of EVERYTHING, and my parents even proved more then once that they couldn't afford their payment with the interest rate they had. If your housepayment is more then (I believe) 30% of your monthly earnings, they are suppose to work with you. My mom even had her bankrupcy lawyers try to deal w/ them and BoA wouldn't budge.

BoA said they could afford the payments with their income and they didn't qualify. Mind you, they could afford anything and everything they wanted before my stepdad had 2 strokes and a heart attack, but when he had to quit work their income went down 25-30%. They didn't live outside their means, and didn't spend frivolosly (I can't spell lol) either.

They are now dealing with a short sale with their home, and land contracted a new house that they can afford with a bank that will work with them. If they don't sell their home within a month, they are going to give it back to BoA. Thankfully BoA can't come back on them, because they have all the paperwork from trying to get BoA to help and they also have all their lawyers info from trying to help too.

Btw, they also had their mortgage thru Countrywide at first too. And it took them a good month for someone to tell them that BoA had it.

I would look into short saleing your home, if you don't want it. Or getting refinanced through a different mortgage lender. BoA will screw with you any chance they can get. One of my good friends has BoA also, and it's been nothing but a nightmare for her too.

Not to be negative, but I don't know anyone who found any awesome loopholes.
A house underwater, so to speak, is underwater and a house gone is gone.
I've seen this happen too many times.
People bought homes when the market was high. They made improvements, they made their payments on time.
Then, their homes weren't worth what they owed with the downturn.
I know people with perfect credit who couldn't get loan modifications.
One thing they did accomplish was getting their homes re-assessed so that their taxes on their property went down.
I'm in California and lots of people here are J. hosed.
All I can suggest is taking advantage of the lesser value to get your taxes lowered and then see what the bank has to say.
I have one friend who had perfect credit and was told the bank couldn't help her unless she was behind in payments so she fell for it and ended up losing her house anyway. They bank didn't care. They got the house back.
Also, beware of mortgage lenders who promise they can help you get out from under the bank thing.
J. saying.

I wish you the best.

Call an attorney and have them research it for you.

You get your news slow don't you? I heard this several months ago.

They did not transfer, well I can't remember exactly which paper, along with the securities. This does not! get you out of the mortgage! It only relates to foreclosures and only to the extent as to who signs off as owner of the debt. It is being drug out there to slow down the process so people can live in their homes rent free a little bit longer.

I read the news online or I wouldn't have a clue as well. :)