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Bank of America Home Retention
|Bank of America Home Retention Team endeavors to help the mortgage customers of Countrywide Financial in avoiding foreclosure and its serious consequences. After the acquisition of Countrywide Financial by Bank of America, a unique home retention program was introduced to assist those troubled borrowers who were trying to remain current on their mortgage payment. Through the retention program, the bank helped a large number of mortgage borrowers in the U.S. to get out of their financial debts. The home retention program initiated by Bank of America is believed to have assisted about 400,000 Countrywide customers in keeping their homes by avoiding foreclosure.
Bank of America Home Retention Program
BOA Home Retention Program is made available by the Home Retention Division of the bank and it is offered only to those homeowners who utilize their homes for primary residence. Under the loan modification term of the home retention program, the sum of principal amount, interest rates along with taxes and insurance are made equal to 34% of the borrower's income. The overall payment amount is significantly reduced by making some changes in the interest rates and principal through refinancing option from FHA. There are no additional charges or prepayment penalties involved with this modification program. The homeowners are also fully covered as any kind of foreclosure cannot be conducted during the period of the home retention program.
BOA Home Retention Department
Homeowners can get online assistance on their complaints and queries from the home retention group by visiting the official website of Bank of America. Customize solutions are provided by the home retention center based on the stage of mortgage payments of the borrowers. However, in some case, a phone number is offered to the borrower in order to contact the department. Troubled homeowners can approach the home retention department by calling at 1.800.720.3758. To get assistance when most likely to face foreclosure, call 1.800.669.6650 to contact Bank of America home retention team.
The home retention team is comprised of highly experienced attorneys who carry out loan modification activities keeping in mind the income conditions of the troubled homeowners. With the best of advice and timely service, the department works to ensure that homeowners remain in their homes. In order to get further details on the address, phone number, and fax number of the retention team, one will have to complete an online form provided on the website of the bank. Countrywide home retention phone number is 1.800.720.3758 and visit the bank website mentioned below for more details on home retention forms, loans and services.
Home Retention Department Address
475 CrossPoint Pkwy
Getzville, NY 14068
Fax number: 716.635.7255