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Bank of America home loans

Bank of America loan modification pipeline clogged

by Moe Bedard

Two years after swallowing the troubled mortgage giant Countrywide Financial, Bank of America trails other major U.S. lenders in resolving troubled home loans through short sales or modified loan terms.

The lender, one of the nation’s biggest banks, holds more than a million mortgages that are months behind on their payments — twice as many

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Bank of America Completes 12,700 Permanent HAMP Modifications; Another 13,700 Approved and Pending Homeowners’ Signatures

by Moe Bedard

Quadrupling of Completed Modifications in One Month Demonstrates Commitment and Momentum in Executing Government’s Homeownership Retention Initiative

CALABASAS, Calif., Feb. 16 /PRNewswire/ — Bank of America has realized significant gains modifying mortgages through the government’s Home Affordable Modification Program (HAMP). At the reporting deadline for the Department of Treasury’s monthly servicer progress report expected to be [...]

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Bank of America Sued By Ohio Homeowners Over Loan Modification Program

by Moe Bedard

Lawyers at the Legal Aid Society of Southwest Ohio have filed a lawsuit against Bank of America, alleging it failed to follow through on promises it made to modify mortgage loans.

The lawsuit was filed on behalf of 10 Ohio homeowners who participated in a federal “borrower outreach” program in Cincinnati last October. Bank of

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I’m a little shocked at how much this bank is fighting on this modification

by Moe Bedard

SARASOTA – After five months of seeking a mortgage loan modification, Jeffery Feig’s approval package arrived in March. His payment was cut in half.
But two months later, Bank of America called with bad news: The lender changed its mind and wanted him to start paying the larger amount again.

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Banks Say Homeowners Can’t Get Paperwork Together

by Moe Bedard

Executives at Chase and Bank of America say they are struggling to get homeowners to complete the necessary paperwork for the Obama administration’s Making Home Affordable Loan Modification Plan. These banks are claiming that only a small percentage of homeowners have completed the process.

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Greg Curl: Bank of America CEO Candidate Under the Scope

by Moe Bedard

Mr. Curl, a longtime company executive, led negotiations on all of the bank’s recent mergers and is best known for his deal-making skills. In recent weeks, he represented the bank in its negotiations to return taxpayer money.
The bank expects to repay its $45 billion in bailout funds this week, after it raised nearly $20 billion [...]

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Not getting help from Bank of America? Here is a special email form to get help today!

by Moe Bedard

This blog and my forum reach a lot of Bank of America customers and it seems many homeowners are not getting the help they deserve. So, they have set up an email that you can email for help via CBS Channel 5 News Phoenix, AZ and they have promised to help you.
Have you had challenges [...]

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