Friday, July 8, 2011
Why do home loan modifications take so long to review?
I have a home loan modification with Bank of America under review for 1 year and 6 months now. I've been on a trial period since then. Up to this date, they have not given me any response as to getting approved or denied. I call at least twice a month and all they tell me is that is still under review and no other documents are being requested. I find this strange that they are not asking for more current financial information. Does anybody out there know why they can be taking so long and why are they not requesting updated documents?
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