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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Bank of America Involved in Another Class Action About Loan Modifications


A class action Lawsuit has been filed against Bank of America in regards to loan modifications. Many homeowners who have received a loan modification are having major issues with the new terms of their loan. For some reason the new payment amount is not being applied to their account, and therefore causing the customer's to show that they are past due. Some customer's have received foreclosure notices. This is a huge hassle, and many homeowners are in fear of losing their home.  The banks are just in over their hands and are not working together for the sake of the homeowner.