Bank Of America Offers Mortgage Modification And Alternate Home Loan Assistance Plans

Opportunities for mortgage modification programs from the Making Home Affordable Program and in-house assistance opportunities are available to Bank of America homeowners who may be struggling with their mortgage. Numerous homeowners have become angry over the past weeks as foreclosure questions have arisen over practices of certain financial institutions and foreclosure documentation procedures.

Yet, one thing that remains constant is homeowners are still having trouble making their monthly mortgage payments and, as a result, servicers like Bank of America are still working to provide home loan modification assistance to homeowners who cannot meet their monthly mortgage payment at the present time.

While the Making Home Affordable modification program has been helpful for numerous homeowners, there are still difficulties that remain when it comes to providing affordable mortgage payment options for certain individuals. For this reason, servicers like Bank of America have been reported to offer alternate home loan assistance plans, often through in-house home modification programs.

Homeowners may also get assistance through extension programs from the Making Affordable Program, like a second lien modification and unemployment assistance, in certain cases. Foreclosures and defaults still remain a problem for many homeowners and servicers have been asked to up their efforts when it comes to finding affordable solutions to these problems.

While there are still questions that surround foreclosure proceedings by certain financial institutions, homeowners continue to struggle with factors like unemployment, which is one of the main causes of a homeowner’s inability to meet their monthly mortgage obligation. Homeowners in need of mortgage assistance are often advised to contact their servicer directly, and as soon as possible, as banks like Bank of America may be able to offer more helpful assistance programs the earlier a homeowner makes them aware of their troubled financial position.