In late XXXX, my family suffered a loss of income due to a change at my employer leading to a reduction in hours I spent doing side jobs. 
In late XXXX, Bank of America advised our line of credit mortgage payment would increase from $ XXXX/mo to $ XXXX/mo. This substantial increase in required payment, coupled with roughly a 30 % reduction in income resulted in a hardship. 
We contacted BofA and started the loan modification process. In XX/XX/XXXX I inquired into the loan mod status and was advised that the modification request was denied and closed. The representative could not tell me why. We reopened the case and began resubmitting documents. 
In roughly XXXX or XXXX of XXXX, we received notice that we had been approved for a modification. Bank of America was allowing us to make payments of $ XXXX/mo for three months to get caught up on our past due line of credit payments. If we could not afford $ XXXX/mo, how could we afford $ XXXX/mo? I contacted our customer relationship manager at that time and asked if there were any long term modifications available after the three month trial period where our payment had gone from {$180.00}, to {$580.00}, to {$1600.00}. I was told at that time that Bank of America had no programs available for our situation where the bank held only the second mortgage on the home and not the first mortgage ( XXXX services the first mortgage, Bank of America had sold or transferred the mortgage to XXXX within the previous year ). Had Bank of America told us from the start that our situation ( XXXX note held by another bank, only XXXX note was held by BofA ) did not fit their criteria, we would have taken a different route, XXXX that would have allowed us to refinance some time in the near future ( we have a short sale on our credit within the last year and were told that made us ineligible to refinance with Bank of America or any other lender at that time ). Unfortunately, we believed Bank of America would be modifying our loan and had become behind in payments at this point. Our credit suffered and we were more stuck than we were before. 
