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

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BofA Moves 2500 Employees into the Loan Modification Department


Due to the high demand for loan modifications, Bank of America is moving 2,500 more employees over to the loan modification department.  There will be a total of 30,000 employees working on loan modifications for BOA. Originally, there were 24,000 employees working on loan modifications. Bank of America intends for all these employees to be in this department through 2011.   Their goal is to help all of the distress homeowners who are trying to avoid foreclosure.