| Bank of America is one of the largest financial | | | | Bank of America uses the same tool like other |
| institutions that joined US President Barack | | | | banks and financial institutions to review if the |
| Obama in his goal of "Make Home Affordable" | | | | property owner is eligible for the Loan Modification |
| that will help homeowners to pay for their debts, | | | | program of the government site since this |
| continue paying for their mortgages, and avoid | | | | campaign started by the US President Barack |
| foreclosure even if the borrower has a bad credit | | | | Obama. The Bank of America or BOA offers |
| history, struggling in paying for their monthly dues | | | | assistance to the borrowers who have difficulty in |
| and not capable to meet their legal responsibilities. | | | | paying their mortgage fees. |
| The Bank of America's home retention program | | | | The following documents should be prepared by |
| was established by state Attorneys General in | | | | the borrower before applying for the BOA Loan |
| order to give affordable homes to property | | | | Modification program: |
| owners and loans that are adaptable to property | | | | 1. Your mortgage number and home address. |
| owners in order to manage to pay for their | | | | 2. Your bank reports for the past two months or |
| mortgage fees every month. | | | | most the latest tax returns. |
| The purpose of this home retention program is to | | | | 3. Your current income documents like pay stubs |
| help the entitled borrowers to become sincerely | | | | and any other documents where you get money |
| pay their monthly mortgage on time in adjustable | | | | or your source of funds. |
| plan that is available for them and to eliminate the | | | | 4. List of your current family expenses. |
| foreclosures and to make easier for the | | | | 5. Your concise justification of your present |
| consumers to make a financial adjustment to | | | | financial situation warranting support. |
| keep their home in the easiest way as possible. | | | | |