Homeowners with Bank of America have been looking for mortgage assistance through the home loan modification by way of the Making Home Affordable Program. Bank of America, in their participation in the home loan modification program, has more homeowners by far than any other lender and they have had their share of complaints from homeowners as well.
However, Bank of America has been seeing better numbers in the home loan modification program, along with promises to put principal reduction programs into place and also offer unemployment forbearance on the mortgages of homeowners that have found themselves without a job.
Many homeowners, though, feel that Bank of America isn’t doing enough to keep people in their homes or modify their mortgage, despite the fact that Bank of America is associated with a variety of mortgage assistance programs.
Yet, being associated with programs and implementing them are two different things, as homeowners have countless stories of troubles with not only Bank of America, but other big lenders as well.
While it seems that some lenders, like Bank of America, are committed to helping homeowners, there is also the case that with such a vast amount of troubled homeowners in the housing market, lenders are going to have to set up their efforts to provide more mortgage assistance to homeowners who qualify.