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Financing -- Loans/Loan Modification FICO score


QUESTION: Not sure if you can answer this, but I'll let you give it a try.

I spent 3 months trying to get refinanced or a lower interest rate from Bank of America.  they finally told me to apply for a hardship loan modification.  I did, and they told me I had to have a trial period.  I passed the 4 month trial period, but they didn't process the paperwork until 2 months after that.  For those two months, I continued making payments at the trial rate, on time, and they reported me late 30 days for those 2 months because the payment was smaller than the previous that I had paid.  I'm pissed.  My FICO score plummeted from 810 to 696.  I've disputed the late reporting.  Now for my question, should I do anything else?  How can I get my FICO back over 800?  I have no other bad reports on my report.  I have NEVER missed a mortgage payment.

Fellow All Expert - thanks for your service.


Really sorry to hear about your issue....

Although I'm a banker by training, thr credit bureaus are a whole different story.

I would try making an appeal to the highest executive that will speak to you.

good luck on that one.

If all else fails, try a local TV news show that has a viewer complaint room.

Maybe pressure from a nerws org will help.

Good luck!

---------- FOLLOW-UP ----------

QUESTION: Thanks for your suggestion.  I'm telling you, BoA is horrible.  Apparently the loan modification people operate in a vacuum and no one is allowed to call them from the other side of the bank that was maintaining my account.  I did what they said, and they rated me bad.  Oh, well.  If my dispute doesn't work, and BoA won't respond, I guess I'll give it up.  Although I was proud of my 810, 696 ain't that bad.



As a banker, and by career, a [art of the "system", I am so sorry that the banking industry has failed you, and I might add, thousands of others.

Don't give up.

That is easy for me to say.

However, there are two options:

One, a senator that should be President

And, the other, the Consumer Protection Agency, of which she had a major role in implementing.

Google Consumer Protection Agency.

Also, Google, Elizabeth Warren

Also, wouldn't hurt to reach out to Bernie Sanders Campaign.

All these folks are aghast at what the banks have been allowed to get a way with and are trying to change things.

Change is glacierly slow, unfortunately.

But these folks and agencies, have a voice.

B of A just hates Congressional inquiries....


Financing -- Loans

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Considerable experience in the area consisting of 25 years in both consumer and commercial finance and business management, including 15 years specializing in international Mergers and Acquisitions with over $100 billion in assets acquired Education/Credentials Business administration undergrad Wharton post grad in finance Awards and Honors numerous corporate awards Past/Present clients range from small enterprenurial companies to large multinationals

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