I have an FHA loan with Bank of America and went through the HARP program 3 times due to the bank requiring more documents to be signed etc... Each time they lowered the payment. At the end of the year they requested I make up those payments or they would foreclose. My understanding was that those payments were supposed to be put at the end of the loan. They now state; "This is the end of your loan." Is that legal?
Andrade Menefee (916)821-8945 legal[email protected]
This question has been locked from accepting further answers.
Answer this question:
Please log in to submit an answer.
Best Expert Answer
Legal advice should be given only by a lawyer with experience in the law in this area, and unfortunately, it's not possible to speculate on your specific circumstances without access to the contract you signed-the wording of your agreement with the lender is key in determining how that agreement lines up with state/federal law, the rules of the HARP program, etc. Have you re-examined your HARP agreement to see what is spelled out in writing? Have you spoken to a lawyer about your concerns?
Our blog is brought to you by the knowledgeable group of counselors at FHA.comVisit our website
Have a Specific Question?
Some of Our Experts
Can I remove MIP from my FHA if my home value goes up?What credit score is ideal when applying for a home mortgage loan?Can I use my VA loan eligibility to buy a home that includes 12 acres of land?I had a bankruptcy not long ago. If I want an FHA loan, how long do I have to wait before applying?What is the minimum down payment I can make for an FHA loan?Can I payoff my FHA loan without being penalized or charged for early payoff of the loan?How do I restore my VA loan eligibility?see more