Bank of America began hosting a mortgage outreach workshop at the Charlotte Convention Center today, aimed at helping the 4,500 people within a 75-mile radius of the city with a loan serviced by the bank that's more than 60 days delinquent.
The event, open from 8 a.m. to 8 p.m., will last through Thursday. People interested in attending are encouraged to register online at BankofAmerica.com/HomeLoanHelp.
It's the third year Bank of America has held such an event in Charlotte. It's now done about 1,200 around the country since 2009.
How it works: After registering, homeowners will first take a brief class that gives them an overview of different terminology like short sales, deeds-in-lieu, and forbearance. They'll then meet with nonprofit Alliance Credit Counseling to get a read on their situation. If the homeowner has all of the correct paperwork, an underwriter can then get the ball rolling on a loan modification, forbearance or short sale.
About 300 people have registered so far, said Tamika Eubanks, Bank of America senior vice president for national mortgage outreach events. The bank services about 300,000 loans in North Carolina. About 11 percent are delinquent.
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3 comments:
What help is available to the people who spent within their means and aren't delinquent?
Should I stop paying my bill so I can get it reduced?
This will make up for all the homes the fraudulently foreclosed on...
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