Posted by LynnNC on 4/14/10 2:33am
Msg #331629

Bank of America exec: 'Considerable number' will lose homes


Bank fields 125,000 daily requests for mortgage help and plans more options.

By Stella M. Hopkins
[e-mail address]
Posted: Tuesday, Apr. 13, 2010

Bank of America's top mortgage executive, testifying today before Congress, will release sobering details of home-loan delinquencies, including that "hundreds of thousands of customers" haven't made a payment in more than a year.

Barbara Desoer, president of the home loans unit, will update the Charlotte bank's progress in mortgage modifications. She will offer suggestions for improving the federal modification effort and explain programs the bank is developing, including more help for unemployed and poor borrowers.

She also will stress the need for options for people who simply can no longer afford their homes.


Read more: http://www.charlotteobserver.com/2010/04/13/1373260/bofa-to-detail-loan-aid-before.html#ixzz0l3dP0gig