Bank of America, the country’s largest lender, said Tuesday it had more than doubled the number of people it has helped under a government foreclosure prevention program last month.
Under the program, known as Making Home Affordable, lenders are paid by the government to lower the payments of distressed homeowners. But in its first progress report on the program last month, the Treasury Department said it found that less than 10 percent of delinquent borrowers eligible for the program had received help.
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More than 70%+ of homeowners are not happy with their lenders modification offering via the HAMP program. The banks are not representing the homeowners, they have a fiduciary responsibility to their stock holders and they are representing themselves.
This is exactly why professional representation is critical.
i am doing a loan mod through united law group since january, aurora loan is putting my house for auction sept 23 ulg is telling me that i have to wait until the day before or the same day auction date to find out if the auction can be postpone because they keep telling me that selling my home during loan mod is ILEGAL IN CALIFORNIA IS THIS TRUE SHOULD I TALK DIRECTLY WITH AURORA TO REINSTATE MY MORTGAGE . I AM A SIGLE MOTHER WITH FOUR CILDRENPLEASE ADVISE “removed for safety” THANKS
It’s a great move of Bank of America. It’s important that banks share information, create new ways to help their customers to fight foreclosure situation… Homeowners must try to catch up this help