Struggling homeowners nationwide will now have the chance to attend a free mortgage loan modification event held by one of the largest lenders in the United States. While many state governments and regional lenders have participated in similar events late last year, this is the first major event to be held by a lender.
Bank of America is planning to hold these free workshops in 9 cities across the United States by the end of February. These two day events will offer homeowners a chance to review their mortgage debt options, ask questions to qualified representatives and speak to a housing counselor about the options available to them.
Bank of America is hopeful that these events will better educate consumers by putting them in touch with the resources they desperately need to secure a foreclosure alternative plan. Similar events in the past have reported a 60 percent increase in successful mortgage negotiations for those who attended such events. More information can be found at www.bankofamerica.com/homeownerevent.