BoA Question

They have sent us a letter with an offer to pay a small sum by mid March and to see if we qualify for reduced interest etc….I guess hoping to catch us up.

We could pay this and work out a plan – but soon we’d fall right back behind.

Has anyone else had this type of offer from them? Thanks again for all your support!!!

We had a similar offer but negotiated a settlement as we would also be unable to maintain the payments that they were going to require.

If you know going into it that you will fall behind again, I would discuss possible settlement options as you are only delaying the inevitable.

I wrote a while back BoA told me i was getting a reduced rate of 6% for the life of the loan now after 2 statements i have not seen this change so i contacted them and now they act like this arrangement never happened.

Ouch. Ouch. Ouch. I guess I better work towards the idea of settling with them. I don’t know if I should do it on my own or find a reputable company.