Loan modification,collection,foreclosure

Posted on Posted in Complaints, Mortgage

review

I have issue with my second lien on my primary resident. with Bank of Americai was told by b o a staff on XXXX that my second loan was waived and they willsend me the release of lien shortly, after that due to family emergency i had to go to overseas and lost contact with bank of america . also never received any certificate of lien release. mean while my first loan that was originally with bank of america after several times attempt to modify, and deny with no reason. finally was sold to XXXX, then after several attempt finally my first loan modification was approved, recenlty i check my property tittle report. and find out the second loan lien has not been released yet.?!!!
i called bank of america, and first they denied the cancelation of my second lien, after several weeks i called bank of america again. this time they told that yes, my second loan was approved to be released on XX/XX/XXXX, but are not releasing the lien, and loan was referred to their recovery dept. for collection and demanding full payment on the second loan .my credit report shows as with XXXX credit agency as paid status, and with third agency as open account.
Now my first loan has been modified but still is underwater, i barely can afford first lien loan mortgage .with HAMP loan, and there is no equity for second loan, but still demanding payment. it does not make sense to go through a first loanmodification process ( according to affordable home modification act ) and havingthe second lien with no equity position staying on the property as an activeand open second lien .and waiting some day to foreclose on my property.
I ca n’t afford to pay for my second loan, barely keeping my first loan in current status.

why they do not release the second lien base on their XX/XX/XXXX promise??
what was the purpose Hamp loan.

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