I spent another hour on the phone with B of A today and was told that we were found "ineligible" for the Making Home Affordable Program.
I am utterly flabbergasted.
I couldn't get any more info that that from cust. serv. rep. I was told to sit and wait for the letter. She could not guarantee that the letter would give more specific information, but I would hope that it will. I cannot understand it. Four different people told me we were eligible. This is just dumbfouding. I can't wrap my head around it. In all my guesses in what kind of response we would get from B of A I never imagined that we would get nothing from them.
So now we look for an exit strategy as my dear husband calls it. We will probably try to just plain sell it and walk away with nothing for the $200,000 in payments we've put into over the past 4 years. If that won't work we'll try to short sell it. I have no idea what that entails. If that doesn't work I'm down with walking away, but I'm not sure how that works either.
Oh my God. I thought we would raise our kids in this house. I've got to let this sink in a little bit more.
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