Posted on: 06th Mar, 2010 04:13 pm
Going through a loan modification with BofA, in June the 2nd loan (w. Citi) was paid off because it came out on my credit report with a balance of 0...it was not written off...Will this help me with the loan modification it I let BofA know.
hi yani,
it might help you if you let bofa know that you have paid off the second mortgage. they might realize that you do have the intention of paying off the mortgage. you also need to prove that you are in financial hardship and are finding it difficult to make the regular mortgage payments. they may be willing to modify the loan to help you make the the monthly mortgage payments. but it is completely upto bofa whether or not they would modify your loan.
it might help you if you let bofa know that you have paid off the second mortgage. they might realize that you do have the intention of paying off the mortgage. you also need to prove that you are in financial hardship and are finding it difficult to make the regular mortgage payments. they may be willing to modify the loan to help you make the the monthly mortgage payments. but it is completely upto bofa whether or not they would modify your loan.
if the citi loan was "paid off because it came out on my credit report with a balance of 0" then that's not a paid off loan. if you truly made every payment that was due on that citi loan and the result was the zero balance, that's a paid off loan. what actually took place?
