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Bank of America Home Retention

Bank of America Home Retention aims at providing relief to the Countrywide customers nationwide from the dread of foreclosures in case they fail to keep their mortgage obligations. A special home retention program was launched soon after Bank of America acquired Countrywide to reach the borrowers struggling with troubled mortgage and lend a helping hand in their endeavor to come out of the financial mess. The home retention plan from Bank of America is expected to bring the smile back to at least 400,000 Countrywide borrowers and help them keep their home.

Bank of America Home Retention Program

Bank of America Home Retention Program is available to those homeowners who use their home as primary residence. The loan modification under the program makes the cumulative amount of principal, applicable rates, insurance and taxes equal to 34 percent of the homeowner's income. The payment is reduced by bringing changes in the rate of interest and the principal with adequate refinancing from FHA. Moreover, there is no additional charges payable for the loan modification and the borrower is also relieved from paying prepayment penalties. Furthermore, there cannot be any foreclosure sale during the entire period of home retention program.

Bank of America Home Retention Department

You can seek online help from the Countrywide home retention department functioning under the administration of Bank of America by visiting the website of the latter. Depending upon the mortgage payment stage you are in, a solution is provided and in some case a phone number is given to contact the home retention team of the department. For example, if you have just missed the first mortgage payment or are struggling in meeting the deadline of payments, you can learn more about refinancing and how you can avail the benefits of home affordable program. Similarly if you have missed more than one mortgage payments and do not want to stay in your home any longer, you can approach the home retention team by calling at 1.800.720.3758. If your problem is more serious with the specter of foreclosure looming large over your home, you can call at the helpline number 1.800.669.6650 to seek the help of home retention team.

Bank of America Home Retention Team

The home retention team at Bank of America is developed to assist the customers with prompt service and helpful advice. The attorneys consisting the team carry out a loan modification to match the income level of the troubled borrowers. You can also forward further queries or complaints to this special division of Bank of America.

To get close to this group of professionals and also to get details regarding address, phone & fax number, you need to fill out an online form available at the website of the bank. Moreover, there exists a large of number of home retention consultants and professional service providers that help you get the full benefit of the program and protect your rights of homeownership.

For more information regarding Bank of America Home Retention, follow the website link provide here

Website: http://newsroom.bankofamerica.com/index.php

Countrywide Home Retention Phone Number: 1.800.720.3758

 
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