Are you a homeowner with a second lien with Bank of America? Well, you could be one of the 150,000 pre-qualified homeowners to have your Bank of America second lien mortgage eliminated!
Bank of America has created a program that is to ease the pains of struggling borrowers who are also dealing with similar issues on first mortgages and to help more individuals create equity in their properties.
Eligible borrowers have receive a letter in July and have the option to join or decline the program within 30 days of receiving the letter. Remember, only the second lien that is owned and serviced by Bank of America that meet certain delinquency and property value guidelines are qualified. If a second lien mortgages associated with a severely delinquent first lien mortgage also qualify as long as the second-lien is serviced or fully owned by Bank of America.
Please not, that eliminating a second lien does not resolve issues with the first! If you are delinquent or in foreclosure with the first lien mortgage, work with the first lien servicer to resolve your first lien issues.
For more information on Bank of America Loan Assistance Solutions, go to homeloanhelp.bankofamerica.com
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