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Bank of America Mortgage Modification

Bank of America Mortgage Modification aims at saving your home from the danger of an imminent foreclosure by providing relief in your monthly mortgage payment. This is done either by reducing the principal amount or the interest rate you pay each month or through a refinance option made available by a federal agency. The federal government announces mortgage modification programs from time to time to decrease the number of foreclosure instances in the country and you could be one of the beneficiaries of such programs. The help available in this regard takes into account the amount you owe and your current payment status along with the lender you borrowed money from.

Bank of America Mortgage Modification Program

Bank of America offers several mortgage modification programs to bring a homeowner multiple options for saving his/her home. Many of these plans follow the guidelines of federal administration which makes it easier for a homeowner to avail the opportunity.

Bank of America mortgage modification programs are:

  • Making Home Affordable: A plan announced recently by federal government to reduce the number of rising foreclosures in the US. The help is provided through easy refinance options. Visit www.makinghomeaffordable.gov to get more information in this regard.
  • National Homeownership Retention Program: This program is available for the customers of Countrywide as well as Bank of America. The options offered include refinancing through FHA, mortgage modification through reduction in your principal amount and interest rate, and Homeowners Program under the HOPE. To get more info call at 1.800.669.6607 or visit the website of the bank.
  • HOPE NOW: A special foreclosure counseling service that offers free advice and helps you prevent foreclosure and retain homeownership. The get the help visit its official website www.homenow.com or call 1.888.995.HOPE.

Bank of America Mortgage Modification Requirements

While availing a mortgage modification program you are required to furnish details of your property and financial situation. Hence you must be prepared with the required information when you seek a mortgage modification help from Bank of America. You may be asked to supply information regarding the address of your property, your loan number, bank statements along with tax returns, income sources, expenditure details and the current financial condition. Your eligibility for a mortgage modification program will be determined by the information you supply to the Bank officials.

Bank of America Mortgage Modification Department

Contact Bank of America Mortgage Modification Department in case you find it difficult to keep up the payment schedule of your mortgage. The officials of the department are accessible through various modes of communication and help you avoid a foreclosure by advising suitably. You can contact the department online by visiting its website or through the phone number given below.

Bank of America Mortgage Modification Phone Number: 1.800.669.6607

Website:http://learn.bankofamerica.com/articles/home-loans/having-trouble-making-mortgage-payments.html;jsessionid=1B9FAB5755ADB0F17BF4B1307897F8DA

 
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