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I am wondering if there is an appeal process for homeowners who have been denied a DOJ mod offer for any reason?
During our foreclosure process, we received a DOJ modification offer. We were not working with an attorney - just a free legal resource - and there was very little information. Only a payment amount and some other data.
The modification amount was $200 MORE than our mortgage payment, which we were told was not allowed under DOJ. We asked BOA several questions:
1) What data did they use?
2) Did financials did they use?
3) What happens after the 3 month trial period - can the payment increase?
...and many more. We could not get an answer from BoA and the offer lapsed. When we told the judge that we had questions, he simply said that we did not have the right to ask questions and that the offer was off the table.
Now we have a great lawyer and she tells us that we absolutely CAN ask these questions.
We are trying to find out if there is a formal appeals process.
I am wondering if there is an appeal process for homeowners who have been denied a DOJ mod offer for any reason?
During our foreclosure process, we received a DOJ modification offer. We were not working with an attorney - just a free legal resource - and there was very little information. Only a payment amount and some other data.
The modification amount was $200 MORE than our mortgage payment, which we were told was not allowed under DOJ. We asked BOA several questions:
1) What data did they use?
2) Did financials did they use?
3) What happens after the 3 month trial period - can the payment increase?
...and many more. We could not get an answer from BoA and the offer lapsed. When we told the judge that we had questions, he simply said that we did not have the right to ask questions and that the offer was off the table.
Now we have a great lawyer and she tells us that we absolutely CAN ask these questions.
We are trying to find out if there is a formal appeals process.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
