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Bank of America launches foreclosure help.

Global Banking News-10 August 2009-Bank of America launches foreclosure help(C)2009 ENPublishing -

Global Banking News - 10 August 2009(c)2005 - Electronic News Publishing -

Bank of America Corporation (NYSE: BAC) has started measures that are aimed at helping customers who need foreclosure help.

BAC has started sending letters to customers who may be eligible for foreclosure relief. As part of an earlier agreement that the bank made with state attorneys general in October, it has allocated up to USD150m nationwide to assist certain borrowers who experienced a foreclosure, short sale or deed in lieu of foreclosure on mortgages originated by Countrywide Financial Corp.

Forty states are participating in the programme.

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Publication:Global Banking News (GBN)
Date:Aug 10, 2009
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