We purchased our studio for $140, 000 in January of 2007 and when our family grew from 2 to 4 in September of 2008 we had to relocate. We were hoping to rent out the studio but when the economy went down (a few weeks after our purchase it dropped lots of $$$) we could only rent it out for about half of our mortgage so we asked to modify our loan to the present market value. Countrywide which is now Bank Of America would not agree and refused to do it for us. We hired a realtor and were able to sell our property at the present market value through an agreed short sale. Our loan was FHA and through HUD we were to receive a $1000 incentive for not allowing the property to go into foreclosure within 90 days of the terms agreed. We sold the property and the bank was paid in cash but they are still refusing to give us the cash saying we did not qualify. I have been working with FHA/HUD and finally after a few weeks they told us yes Countrywide/Bank Of America owes us that incentive and has been refusing to pay.