We’ve Been Fighting with Bank of America for a Loan Modification. Do We Need to Hire a Loan Modification Company. – Mike

“Dear Andy,

Really to long to type here. Been in a battle to keep our home for the last 16 months against Bank of American. Last month won a court dismissal for the foreclosure and am now trying to get the loan modification. Was denied for the hemp due to being told they didn’t receive a tax paper which our attorney has proof that he did send it. We are appealing this. Our days are numbered before they will put us back into forclosure. Today Bank of America told us we were pre approved for the loan modification. Just one person said that to us. We don’t know what to believe.

Do we hire an loan modification attorney to help us. If so which one for the cincinnati oh area? We have been talking to Altegra Mortgage in Tampa, Fl but are so afraid they may not be honest. How can you tell?


Dear Mike,

To answer your question of how to tell if a loan modification company is honest? The most important question to ask them is when do they charge their fee? If they have complete confidence that they will be successful, than they should have no problem charging you once the modification is complete and you agree to the terms. If they can’t agree to that than I would suggest you avoid them.

You mentioned that BOA told you that you were pre-approved for a modification just today. That could be big news and you should vigorously follow up on that lead. Call them a couple times and confirm it with more than one person at BOA. If it is something that shows up throughout their system, there is a good chance that it’s true. Just make sure you follow up with any document requests they may still have and be sure to stick to any deadlines they give you.

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If you learn that this pre-approval story is not true and find you’re still not getting anywhere, you can always ask to have your file escalated to the “office of the president” within BOA. This is a small advocacy department that can intervene and get your file assigned with the correct people or reviewed for errors. Where you have been at this now for 16 months, something has obviously gone wrong and you may be a good candidate for escalation to this department. If you simply don’t qualify for modification, this department will not be able to bend the rules and get it done, but they will help you to get that answer quicker.

Good luck and keep us posted on your progress in the comment section below.

Andy is a licensed real estate broker in Massachusetts and is the founder of Northeast Properties in Norton, Massachusetts. His brokerage is designed to help homeowners in today’s difficult real estate market, specializing in short sales. Andy speaks with Massachusetts homeowners every day, helping them to address their questions or issues with short sale or loan modification. He enjoys helping consumers arrive at the correct solution to their problem, and believes that the only way to correctly do that is by presenting them with all of their options in an un-biased manner.

If you have a mortgage, short sale, real estate, or loan modification question you’d like to ask just use the online form. I’m happy to help you totally for free.

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