07 November 2012
Financial pressure of repaying your Home Loan? Home Affordable Foreclosure Program Bank of America
The Bank of America with its home affordable foreclosure program helps individuals who are unable to bear the financial pressure of repaying their home loan. Situations like job loss, divorce or death of a spouse or any natural disaster may leave you without any hope of increasing your finances and with a commitment as large as a home loan it would sometimes be a sane decision to let go and close your home loan by selling off your property.
The bank of America representatives with this affordable foreclosure program guide individuals with foreclosures on loans and with their eligibility criteria fulfilled, any home loan borrower unable to repay their mortgage amounts can make use of this facility and sell off the property. The mortgage amounts as the Bank website states does not in any way hinder the process of foreclosure. The sale of property with the assistance of the Bank of America becomes easier and the total amount of money got from selling the property may even be less, less than the remaining home loan, but the recovery of loan is done and you are free from your loan, with the balance being paid by the bank.
Home Affordable Foreclosure Alternatives HAFA program helps to sell off your property if your loan is more that the value of your home. The selling of property the Bank will recover its dues, and even if there is a difference, this will be waived, this is assured by the Bank of America.