Thursday, February 4, 2010

Loan Modification Update # 6

I called B of A today, not because I knew I was going to get any info, but just because it makes me feel like I am doing something to keep the ball rolling.

I got the same response as last time, but was told that after next Thursday, when our initial 45 business days waiting period is up, we will be put on the expedited list and then we should have a response within 5 business days.

Now I would interpret that as: in two weeks I will know what our new payment and terms will be.

That is a definite date to me. I can sorta live with that. And by some weird fluke we just might get that big envelope before next week. Yeah right.

So unless I post otherwise that we did in fact get that big envelope I will not be able to update again until next Thursday after I call to get on the expedited list.

Bear with me. This should get interesting after next week. I know I am on the edge of my seat in anticipation and you should be too.

1 comment:

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Loan modifications are nothing new, and have been done ever since the beginning of real estate financing. A loan modification is simply taking the existing agreement, and modifying it to the satisfaction of both parties.

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