Photo: A foreclosure sale in the Imperial Valley. Credit: Brian Vander Brug / Los Angeles Times
Bank of America plans to triple the number of its assistance offices for homeowners in trouble on their mortgages, including adding seven of the new outreach centers in California.The Charlotte, N.C.-based bank has been clobbered by losses on high-risk home loans inherited when it acquired Countrywide Financial Corp. in 2008. It planned to announce its latest effort to deal with that problem at 6 a.m. PDT Thursday.
The bank said that over the next two or three months it would open 28 more, including one to serve South Los Angeles and the South Bay, one for the west San Fernando Valley and east Ventura County, one in the Antelope Valley, one in the Inland Empire, and others in San Diego, Bakersfield and Modesto. The exact addresses weren't available.
Four years after loan modifications sometimes began making financial sense to home lenders as an alternative to foreclosure, BofA remains unable to reach one in four delinquent borrowers, spokesman Rick Simon said.
"One of the most difficult challenges we face is encouraging homeowners who are behind on their payments to respond to our invitations to work with them," Rebecca Mairone, the executive heading efforts to engage troubled borrowers, said in the news release.
"We have made a commitment to double our outreach staff this year, provide our customers with more ways to contact us and in locations that are as convenient and comfortable for them as possible."My Commentary: "If You would like a referral to an approved BofA Loan Modification Consultant or Certified Loss Mitigation Specialist, please contact me futher details. No one deserves to be forced to loose their home to foreclosure! Furthermore, there's no financial situation that I can't help you resolve. If you or someone you know is struggling to keep up with high mortgage payments, have currently received a Notice Of Default from a lender, have fallen victim of foreclosure rescue scams or just don't know what to do, our affiliates have helped thousands of homeowners avoid foreclosure and regain the financial stability they deserve for their future. We build client relationships that are based on honesty, professionalism, win-win deals and positive results. Call today to discuss your real estate evaluation. We proudly serve all of Southern California & network referrals throughout the United States."
Katrina Roth, Realtor
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355
(661) 208-1855 Direct
(661) 291-1463 Fax
DRE # 01862396