| Bank of America has created several mortgage | | | | and expense documents, bank statements, credit card |
| modification programs to assist their customers who | | | | statements, list of debts, and any miscellaneous |
| are in default with their mortgages. These | | | | expenses. Failure to include these crucial documents |
| homeowners are able to adjust their existing | | | | will result in a longer approval process. |
| mortgages based on terms mutually benefiting them | | | | · Bank of America will only grant you approval |
| and Bank without further risk. However, only those | | | | into the modification program if you prove you need |
| customers who match eligibility requirements will be | | | | financial assistance. Write a letter of hardship, stating |
| considered. It is in your best interest to strive to meet | | | | the causes and the steps you have taken so far to |
| these terms. Flexible plans include the ability to pay | | | | improve your situation. Don't forget to also express |
| lower monthly mortgages through lower interest rates | | | | your interest in keeping ownership of your home. |
| and longer mortgage loan lengths. | | | | · Don't falsify any information submitted. All of |
| DIY guidelines for applying with Bank of America's | | | | your documents and stated information will be verified |
| mortgage plans: | | | | for accuracy. |
| · Contact the loan mitigation department to | | | | · Stay abreast of your status in the approval |
| request an online application for quickest processing. | | | | process by keeping in touch with Bank of America on |
| Ensure that you complete all the questions included. | | | | a regular basis. This can raise your overall chances of |
| · Do not file your application until you have all | | | | being approved. |
| the documents requested, which include your income | | | | |