Number Of Bank Of America Home Loan Modifications In Making Home Affordable Program Not Good Enough?

In the home loan modification program, known as Making Home Affordable Program, Bank of America offered 244,139 homeowners a home loan mortgage modification out of a possible 1,018,192 homeowners who qualified. 156,864 trial home loan mortgage modifications are in progress at the present time, but Bank of America has only made 98 of those modifications permanent.

Bank of America is in the process of providing a trial or permanent home loan mortgage modification for only 15% of those who qualify for mortgage modifications.

There are numerous reports about difficulties on the part of lenders and homeowners both, but is Bank of America doing enough to help homeowners avoid foreclosure and keep a reasonable and affordable mortgage payment in a difficult economy?

From many accounts by homeowners seeking a loan modification from Bank of America there are endless problems with communication, customer service and movement through the mortgage modification process.

So, the question remains: Is Bank of America doing enough to put more people in home loan mortgage modifications, both trial and permanent, or are they dragging their feet?

The numbers would suggest there is much more that can be done but there may be factors within Bank of America or between lender and homeowner that we don’t take into consideration. However, Bank of America has only made modifications for 15% of those who qualify and that type of percentage is well below helpful.