Bank of America has the majority of homeowners that are in the home loan modification program, but while their numbers improve from month-to-month many homeowners with Bank of America are still unhappy about their mortgage assistant options and their time in the home loan modification program. Many homeowners, that are struggling through the modification process, say that lenders are unwilling to make modifications in some cases even though homeowners may qualify.
Recently, the Treasury Department stated they are going to begin reviewing lenders participation in the modification program to make sure that everything is being done to help homeowners that are struggling to keep their home.
There have been published reports about lender’s participation in the home loan modification program and published numbers, month-to-month, of how well or how poorly each lender is doing.
It was hoped that these published reports would cause lenders to do more within the home loan modification program, but many feel that there are still problems and lenders are not doing all that they can.
While banks, like Bank of America, have seen increases in their numbers over the last few months there is still trouble for many homeowners that are looking to avoid foreclosure. It’s hoped that these new reviews conducted by the Treasury Department will bring about a more efficient process is that home loan modification program.