Bank of America has seen progress in their Making Home Affordable Program numbers over the past months, but there are still homeowners looking for a home loan modification in the hopes of getting a more affordable monthly mortgage payment. Lenders in the home loan modification program have been working to up their numbers as many homeowners and legislators are calling for more permanent home loan modifications.
The problem seems to be that Bank of America, among other lenders, are having troubles with the organization and implementation of the home loan modification program as many homeowners have cited loss of paperwork, rejection from the program for no reason, and no communication from lenders as just a few of the problems.
There is still help, though, for homeowners struggling in their mortgage payment and despite the home loan modification being, at times, a difficult road to travel, homeowners shouldn’t give up hope on getting mortgage assistance.
Persistence seems to be the key to getting a loan modification to move forward when a difficult roadblock is met. Homeowners should also take comfort in the fact that, in Bank of America’s case, there are more and more permanent home loan modifications taking place each month.