Get assistance from Bank of America.
Bank of America is one the largest lenders in the United States. They offer various assistance programs, including for car loans, mortgages, credit card debt, and other bills. BOA operates thousands of branches across the nation, has tens of millions of customers, and over $2 trillion in consolidated assets. If you are a Bank of America customer, find how to get help from the lender or non-profit partners.
Many Bank of America customers may need assistance from time to time. There is help in dealing with their outstanding loans, mortgages, credit cards, and other debts, with some programs offered directly by BofA and others by non-profit organizations. Customers may need information on the options that are available to them including foreclosure prevention programs, credit card hardship plans, auto loan refis or forbearance as well as debt settlement and consolidation. Below you will find a listing and summary of many of the assistance programs and counseling services that are offered by Bank of America to its customers.
Foreclosure and mortgage payment assistance from BOA
Families struggle from time to time. When this occurs, homeowners may be struggling to pay their mortgage or they may be facing a foreclosure. Bank of America is one of the country’s biggest home loan issuers and servicers. To this end, they offer support to their customers.
The lender knows that they need to offer numerous assistance programs to help homeowners stay on track with their mortgage. A foreclosure filing is always the last option, as it does not benefit the bank or the homeowner. While BofA offers customers some general tips, the most effective mortgage assistance and foreclosure prevention programs offered by Bank of America include.
- Forbearance - Suspend the payments on your mortgage. This provides homeowners time to get on track and resume timely payments on their home loan.
- Principal reduction - Waive or reduce the principal of your Bank of America mortgage. Click here Bank of America principal reduction.
- Foreclosure assistance - Counseling, mortgage assistance, and other prevention services. .
- Customer support centers - The lender has opened locations across the country to provide free foreclosure counseling and advice. Learn more on mortgage centers from Bank of America.
- While very few, or any, customers may still have a Countrywide mortgage, there are also Countrywide loan modifications. This lender, which was acquired by BOA, still has many solutions for homeowners.
HUD counselors partner with Bank of America too. Together they help any struggling homeowner find a solution to help them get back on track with their mortgage. Find details on free HUD counselors near you.
Bank of America credit card assistance programs
While it may be incredible to believe, Bank of America has tens of million of customers who are using their credit cards. They are one of the nation’s largest credit card issuers, with customers in all states. The percentage of people who are behind on their credit card bills and debts will typically range from 2-10% at any one time, depending on how the overall economy is doing. So the fact is that at any one time millions of people need help paying their monthly credit card bills and debts.
To help these customers, Bank of America has general debt relief tips on their site. But more importantly, the lender administers several debt reduction, settlement, and credit card assistance as well as hardship programs. The options for customers include the following.
- Debt management plans from Bank of America - Work directly with a non-profit credit counseling agency to pay off unsecured debts and loans.
- Hardship programs - Modify the terms on your credit card account, waive or reduce fees, and reduce payments if you are facing a financial hardship.
- Debt settlement - Reduce or eliminate your credit card debts by settling balances directly with Bank of America. Learn more on BOA debt settlement.
- Debt consolidation - This option can lower the interest rate on your loans, medical, and credit card debts and simplify your payment options.
- Skipped payments - The bank will offer deferrals in an emergency. More on credit card deferred payments.
Bank of America and free non-profit credit counselors also work together to help anyone who is struggling with their bills. All of the services are free, with information on debt reduction programs, credit card debt forgiveness (when a payment plan is issued) and other options. Find a free debt - credit counseling agency near you.
Help with BofA auto loans
Bank of America is also a major car loan originator. Both new and used auto dealers are partners of the lender. They work directly with private buyers on issuing auto loans for purchasing new and used cars. In addition to that, they also partner with dealers across the country to help them provide customers financing for purchases that are originated at dealerships. So they have assistance programs for auto loans on used cars as well and the financing that was provided from a dealer.
While not as common as a mortgage or credit card, people may need help from time to time to pay their car loans. Or they need help getting out of them. BOA has programs and options available for them. One of the best solutions is for a consumer to refinance their auto loan to reduce their interest rate, or extend the length of their loan. This can help them save possibly thousands of dollars in financing costs over the life of their auto loan.
- Refinance auto loan - Save up to hundreds of dollars per year by lowering the interest rate or changing the term of your existing car loan.
Contact information
With tens of millions of customers, it is only fair to assume that at any one time some of them will need help with paying their loans, debts, credit cards, mortgages and bills. It is always a great idea to call the lender as soon as possible, ideally even before you experience a financial hardship or fall behind on your payments. The information listed above is only a sampling of the various assistance programs offered by Bank of America.
The main BofA customer support information is here, but that is not as helpful when struggling. For credit card information, call 855-891-3401 and for help with other loans, such as a home mortgage, dial 800-669-6650.
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