VA Home loan for $125,000 + Line of Credit for $28,000 = Original basis of $153,000
Went to settlement on August 2007, no representative.
Country Wide Bank financed the loan.
Lost Job 2009 – Unemployed now and retired!
Had to rent property to pay mortage
Bank of America now has loan.
Loan is no longer a VA backed loan, It is now an FHA loan!
Unable to refinance
Under water by $70,000
I have tried several times to no avail, to refinance this loan, most recently with Wells Fargo Bank. I Just received a letter stating that they are unable to approve my application because “Not eligible for VA “IRRRL”" I have no idea what is IRRRL).
I contacted Bank of America several times looking for resolution, to no avail. It took them 2 years to contact me.
I was late a couple times with my mortage payment and when I contacted Bank of America, they referred to my mortage as “Dept Collection”, what is that and why am I being referred to as a “dept collection”, why not as late on my mortage?
I am confussed now, and dont know where to turn! I am not even sure what my question to you is!
I dont know where to turn, all I know is that something is not right with this loan and no one will to touch it!!
What can I do? Where should I go? Who can I contact?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Bank of America Says I'm Not Eligible for VA Interest Rate Reduction Refinance Loan (IRRRL). - Edward by Steve Rhode