Bank of America Loan Modification for Active Military
Bank of America recently announced programs for its mortgage customers serving in the U.S. military, improving key benefits for those on active duty and extending mortgage protections for servicemembers beyond active duty.
The new programs include:
· a principal forgiveness loan modification program for military borrowers who are behind on their payments when leaving active duty
· a reduced 4% interest rate on mortgages for customers who are eligible for Servicemembers Civil Relief Act (SCRA) protection
· a mortgage customer service unit dedicated to helping military customers
Servicemembers with Bank of America mortgages may reach the dedicated customer service unit at 888.325.5357.
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