banks give bad advice

Some may do it intentionally; some may just not have the systems in place to train their reps well. Some may be in fear of liability and only provide generic info. Either way, they all do it. They give bad, invalid or changing advice and info. This is unfortunate, disruptive and causes fear in the worried borrower. You need to be ready for this. You need to patient with this and you need to have a truthful person on your side to direct you to the truth. The worst “bad info” department at a bank will be the loan modification department. Many will tell you over the phone that they will help. When you then go onto their website or receive their loan modification packet you can read that they don’t do loan modifications. Why are they providing you with the info and the form then? Federal requirements to allow you to apply for a loan modification. They can take the application, they can provide the application and they don’t have to actually give you the loan modification. Unfortunately that makes it easier for scam artist's to take your money and promise to help. Please don’t be a victim of this common practice. IF you have tried that process you know what I mean. Once you understand that there is an investor on your loan you can directly go to the website for that investor to get the truth about timelines, policies and practices.