discrimination

tracy77

Question and advice needed, I was going through bank of America for a . Loan modification for 3 years..during one of the many conversations . I mentioned was going through recurrent bc nd chemo and instantly the girl said..oh we can help you.we have a new program for people going through hardships....I was very grateful but felt slapped in the face since I had cancer feel discrimination.instead what do I you think am I just angry or is this discrimination?  Thank you!!

sarahjane7374

I don't think it's discrimination, I think it's a qualifying event.  There are a handful of reasons that qualify a borrower for a modification - medical hardship is one, others are things like divorce, unemployment or other income reduction.  It allows the bank to fit you neatly into a category for their reporting purposes.  When you fill out your paperwork, it's okay to be vague about your medical condition - long term illness would be better than going into detail.  You should control who has access to your medical information, and the bank doesn't need, and shouldn't have, details.

MelissaDallas

Why would you feel discriminated against because there are programs that take medical hardship under consideration? 401(k) loans have provision for medical hardship, as do many financial programs. I'm not sure I understand your question.

Bren-2007

Tracy,

I don't think it's discrimination.  I think it's a wonderful program.  I was able to re-fi with BofA under the Obama program.  I was lucky the second time I applied for a re-fi.  It only took three weeks and lowered my monthly mortgage by about $150.  Without the Obama program I probably would not have been able to re-fi my mortgage.

Hope you're doing well and your loan modification is approved.

Bren