I had a mortgage modification with Bank of America which took about two and half years before it finally concluded. They took me throughseveral different partial payment which they never concluded. Afterseveral contacts and follow up they finally approved the modification. Butthe terms of the modification was not favorable to me but I have toaccept because of the frustration I had gone through within themodification period, ruin credit and many more inconveniences. 
The modification that I was offer saw my principal increase from theamount I was before the modification started despite the fact that I hadbeen paying the different partial payments they had offered. 
I made payment to the tune of {$32000.00} during this very strenuousmodification period but to my greatest dismay my final modification hadmy principal increased from {$240000.00} to {$240000.00} interest baringprincipal and {$3000.00} non interest baring principal making a totalPrincipal of {$240000.00} an increase of {$3400.00}. I accepted the modification and have been paying my mortgage regularly and I am upto date with my payment. I have called several times and even ask my lawyer to send letters to Bank of America in my behalf which they didabout four different times but have not got any reasonable explanation from Bank of America till date about what happened to my partialpayment of {$32000.00} that I made within these period. Taxes, home insurance premium and FHA insurance paid within this period amountto about {$15000.00}, so how did they allocate the {$17000.00} overage that non of it went into reducing my principal? And also how come I did not get any principal forgiveness despite the fact that my home wasunder water? And what does the law prescribe for the time a modificationshould take? And why did they have to drag me for this long ruining mycredit making it very difficult for me to get any loan. In fact during thistime I had to get a car loan which could only be granted to me for a very high interest rate of about 21 %. 
