Lower you’re Mortgage Payment by HAMP Loan Modification Plan!
According to the bank of America loan modification, nearly 70,000 homeowners have got permanent loan modification. It’s helping the needy people to lower their monthly mortgages and thus save their home from foreclosure.
The bank of America has stated that nearly 70,000 homeowners have completed their home affordable loan modification program and have got a permanent loan modification. Nearly 16,000 homeowners were converted from their trial phase to a permanent modification in past month with the help of home affordable modification program. Recently the bank of America has modified the loan of 630,000 people with the help of HAMP plan. They have given loan modification to all those who were in trouble conditions after the program initiated in 2008. Loansstore also provides services for the home loan modification and help the trouble homeowners to solve to lower their mortgage payment.
According to the bank of America, the treasury department might not fully reflect all the 16,000 permanent modification because they face problem while uploading some file to the government reporting system. According to them the number that treasury shows is around 7,000 permanent loan modifications with additionally 63,000 permanent HAMP mortgage modifications.
According to the Bank Of America Loan Modification Requirements , the Obama government Loan Modification Process HAMP has helped many struggling homeowners and modified their mortgage. This streamline loan modification works to lower the monthly payments based on the monthly income of the borrower. Those homeowners who aren’t able to qualify for the HAMP plan can modify their loan with the help of other options. Bank of America has nearly 71,000 loan non-HAMP loan modification, thus those who aren’t able to qualify for the HAMP can try this option.
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