Bank of America Foreclosure Department Opened To Maximize Assistance To Homeowners In Default

Indeed, the foreclosure pipeline seems to be filling again and this unusually high legal default filing activity seems to be pointing to Bank of America. This vast number of foreclosures is the the reason why Bank of America Foreclosure Department was opened – to handle the queries related to foreclosure.

Bank of America foreclosure department

Bank of America Foreclosure Department Opened To Maximize Assistance To Homeowners In Default

August has been a high month for foreclosure actions traditionally but recently, millions of Americans will be added to the massive list of homeowners facing foreclosure. With 3.5 million delinquent loans overall, massive foreclosure notices are bound to happen. One on the top list is Bank of America, with a trillion foreclosure portfolios. Bank of America said it will take them about three years to work through the portfolios, thus to address the problem, they will be gearing up for new outreach strategies so they can cater to as many consumers as possible. These strategies include setting up more call centers and customer service centers.

Bank of America Foreclosure Department – Customer Assistance Center

Homeowners having trouble making home loan payments can schedule an appointment with Bank of America to discuss their situation and begin looking for a solution that is ideal for them. Below are 3 phases to expect at the Customer Assistance Center.

Review

In this phase, you will be asked to provide information regarding your financial hardship in detail, including your current monthly income and expenses so that the bank can review and determine which assistance programs may be available to you. You will also need to have specific documents with you when speaking with a specialist about your situation to determine your eligibility for loan assistance programs.

Learn

In this phase, your specialist will review the home loan assistance solutions that is ideal for your situation and may be available to you. You will also be informed about Bank of America’s hardship programs and other products such as credit cards, auto loans, small business loans and more.

Apply

Your specialist will work with you to submit an application upon determining the program that will work best for your situation.

You can always take action before foreclosure confronts you. If you feel that your future monthly mortgage payments will be in trouble and you will not be able to make the payments for few months, consult your bank right away rather than waste time. Bank of America Foreclosure Department is designed to assist homeowners to get back on footing through their repayment plan, making changes in the interest rate, monthly payments, or line of credit of borrowers.

Related Posts Plugin for WordPress, Blogger...

Filed Under: ForeclosureHow To Fight with The BankWho Can Help with Foreclosure

Tags:

About the Author

Leave a Reply




If you want a picture to show with your comment, go get a Gravatar.