Bank of America has opened several centers across Nevada that will provide assistance to homeowners in the state. These outreach centers will allow a borrower to meet with a specialist for support and guidance. The outreach centers will conduct face-to-face sessions with homeowners who are struggling with paying their mortgage or who may be facing a foreclosure. The specialists will provide these struggling homeowners with the full attention and resources that are available from a BofA homeownership retention specialist.
The first mortgage centers are currently located in Las Vegas, Reno, and Henderson Nevada. These locations will be the first of multiple outreach centers that Bank of America plans to open across Nevada in an effort to help homeowners across the region.
Bank of America (which acquired Countrywide) already offers homeowners access to several mortgage assistance programs as well as homeownership retention initiatives. In total, the bank has modified over 15,000 mortgage in Nevada since January 2008. Almost 10,000 other customers are in trial loan modification programs or other plans offered by BofA. It is a fact that the latest initiative to open these outreach centers across Nevada will further expand BofA’s existing homeowner retention efforts.
There are several options offered. Consumers who visit the Bank of America/Countrywide mortgage resource centers will meet one on one with a counselor. They will be provided a face-to-face session with a homeownership retention specialist. The attention provided to the customer is very personal in this way. The borrower will not be passed from person to person, which can be frustrating. Instead, to both increase the chances of finding a solution and to improve continuity of the program, a homeowners “file” and any follow-up services that need to occur will also stay with the same housing specialist, according to spokespeople from Bank of America.
The full range of services that BofA offers will be available. Potential options for distressed customers include applying for and participation in the federal Making Home Affordable loan modification program or Bank of America’s own foreclosure avoidance programs, such as principal reduction and other Bank of America foreclosure assistance programs. There will be several other potential solutions explored and they will include both private sector and government programs.
The bottom line is that the mortgage outreach centers will assist the bank's Nevada customers with loan modifications and other foreclosure prevention assistance programs and resources.
Las Vegas and Reno have been particularly hit hard by the nations housing crisis, so those cities are the focus. Nevada customers can learn more about the centers and to make appointments to meet with a specialist by calling a dedicated toll-free hotline, 877-345-6416 that was set up by Bank of America and the state of Nevada.
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