|
|
I was completely desperate...
|
|
...and exhausted when I finally gave up and called CDA and spoke with Gary McPeak. After trying for almost 2 years to get Bank of America to modify our home loan following the loss of our family business, I was just wrung out.
Gary was kind and cheerful, but blunt: if we really couldn't document the income we had to have to make a modification work, then it wasn't going to happen. He persuaded me to send him 3 months of bank statements (boy, that felt creepy), but he got right back to me the same day and told me there were just a couple things I needed to do (move some funds around; deposit some checks individually, etc.) and he said we had an extremely good chance of making this work.
Once I agreed to the process, I began working with Suzie Bryant to put together all of the documentation. She kept on top of everything, encouraging me when I got tired of asking various agencies, banks, and insurance companies for letters and statements, letting me cuss and vent, and staying completely focused on the task at hand.
Finally...FINALLY...three weeks ago she called me with the good news: we've been approved for a 2% fixed - down from 5.875% and a $726/month reduction in my monthly payment (principle, interest, taxes & insurance!)
The most important recommendation I can make to you, if you are in this boat, is first and foremost: trust them and do EXACTLY what they tell you to do!
Seriously: when the smooth-talking person from the lender calls you and "just wants a little background information" DO NOT TALK TO HIM/HER!!! Tell them to call CDA. When they call back, maybe hoping to get your spouse, tell them you are paying a law firm to do your talking for you - tell them you'll be happy to talk as soon as CDA sends you written authorization to talk. Give them CDA's number very politely AND THEN HANG UP THE PHONE!!!
Secondly: don't lie to CDA about anything. It's just like going to the doctor - you can't get exactly the help you need if you don't give them all the accurate information.
Third: don't try to cut your own deal with the bank, or do a short-sale, or any of the other crazy things people do when they freak out and can't handle sitting chilly, playing the long game, waiting for CDA to do it for you. Just give Suzie everything she asks for as fast as humanly possible and then sit back and let them drive the bus for you.
Good luck, God bless your happy home, and God bless Suzie and Gary - without them I think I'd be out looking for a rental right now. And I freaking HATE moving!!!
|
|
|
|
|
|
|
|