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Home Loan Assistance Frequently Asked Questions

Know the facts to be better prepared

Home Loan Assistance FAQs

Refinancing may make your monthly mortgage payments more affordable by reducing your interest rate, extending your loan repayment period or a combination of both.2 If you choose a fixed-rate mortgage, you'll have a stable interest rate for the life of the loan.

Yes. They can include closing costs, points and application fees. We may let you roll these costs into the total mortgage amount to reduce the cash you must bring to closing.3

Depending on the type of loan, credit score and other factors, you can typically finance up to 80 - 95% of the appraised value of your home, or 97.75% if you have an FHA loan. However, the amount can vary depending on your circumstances. Equity is the property's current market value minus how much you still owe.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

 

1Clarity Commitment is a registered trademark of Bank of America, N.A.

2If you are refinancing to lower your monthly payment or change from a variable rate to a fixed-rate loan, you should carefully consider the potential increase in the total number of monthly payments and/or the total interest charges paid over the full term of the new refinance loan – especially for borrowers who currently have loans with terms less than 30 years.

3The relative benefits of financing closing costs by adding them into the loan balance depend on your individual circumstances and the length of time you own your home. Choosing to finance the closing costs may be beneficial if you plan to sell your home before the breakeven point. If you retain your home after the breakeven point, you will increase the total amount paid compared to paying the closing costs upfront. Discuss this analysis with your mortgage loan advisor to help you make an informed decision. Underwriting guidelines may limit the amount of closing costs which may be financed. Other restrictions apply. Ask for details.

For refinance
call 1.800.720.3758

  • 8am-11pm ET Mon-Fri

or have a specialist
contact you Opens a new window.

Yes. It's a requirement of this program that you are current on your payments, and:

  • Within the past 12 months, you've been more than 30 days late with a payment only once
  • Within the six months immediately before you apply for your refinance, you haven't been 30 days or more late with your payment

It's based on the recent sales of other houses close in size and similar to the quality of the neighborhood.

The program's goal is to help make monthly mortgage payments more affordable. You might want to consider the possible advantages of refinancing from an adjustable-rate loan to a fixed-rate loan, or eliminating higher risk loan terms such as interest-only payments or balloon payments. This may help provide you with more long term stability. It's important to know that even though refinancing may lower your monthly payment, it resets the terms of your loan and therefore may increase the total number of monthly payments and interest charges you pay over the life of your loan (shown on the Truth in Lending Disclosure Statement) when compared to your current situation.

When you apply for a refinance at Bank of America, you'll receive a Truth in Lending Disclosure Statement containing your new interest rate, mortgage payment and the amount you'll pay over the life of the loan. You may also receive our Clarity Commitment® document, a one-page summary1 of key loan terms written in plain language, which is designed to help you better understand what you're getting.

Together with your mortgage loan officer, you can compare the Truth in Lending Disclosure Statement and Clarity Commitment® to your current loan. If the proposed new payment isn't an improvement, the Home Affordable Refinance Program may not be right for you and you are under no obligation to continue.

Yes. If you don't have enough equity in your home to qualify for traditional refinancing, you may be eligible for this program. The current market value of your home will be determined after you apply.

You may be eligible, provided that your home equity lender agrees to remain the second lender, and you're able to make the new payments.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7am-7pm local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

 

1The summary is provided as a convenience, does not serve as a substitute for a borrower's actual loan documents, and is not a commitment to lend. Borrowers should become fully informed by reviewing all of the loan and disclosure documentation provided.

Refinancing may increase the total number of monthly payments and/or the total amount paid when compared to your current situation.

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

For home affordable refinance
call 1.800.669.6607

  • 7 a.m.-7 p.m. local time

or have a specialist
contact you Opens a new window.

You may be eligible for the federal government’s Home Affordable Modification Program if:

  • The amount you owe on your first mortgage is equal to or less than:
    - $729,750 for a single-family home
    - $934,200 for a 2-unit property
    - $1,129,250 for a 3-unit property
    - $1,403,400 for a 4-unit property
  • You're experiencing a financial hardship, such as reduced income or medical expenses
  • Your current mortgage was taken out before January 1, 2009

This program is managed through your servicer; you'll call them for an application. If Bank of America services your home loan, call us. We'll review your situation, confirm that you meet the requirements for this program and then send you a financial information packet.

If your loan is an FHA loan, you need to apply under the FHA Home Affordable Modification Program, which was developed specifically for homeowners with FHA loans.

No. If you're struggling now, or believe it will soon be difficult for you to make your mortgage payments on time (referred to as an "imminent default"), you may qualify under the Home Affordable Modification Program. As a homeowner, you may find yourself in this situation for a number of reasons. It may be caused by an increase in your mortgage payment, a reduction in your household income or some other hardship that makes it difficult to pay your mortgage. If you're experiencing any of these situations, you'll need to document your income and expenses and provide evidence of your financial hardship.

Yes. Staying current on your payments is the best way to maintain your credit. However, if you enter into a modification, your credit may be negatively affected. Your loan will be reported as paying under a partial payment plan during the trial period, and as modified after the final modification agreement. In addition, if you're behind on your payments when you start your trial, your loan will continue to be reported as "delinquent" until your loan has been permanently modified, even if you're making your trial payments.

Credit scores are determined by a customer’s credit history and not controlled directly by Bank of America. Our commitment is to accurately report the status of all our customers.

If you're in foreclosure proceedings, or your home has been scheduled for a foreclosure sale, contact us, if you haven't done so already so we can discuss your available options.

You may also want to take advantage of HUD-approved housing counseling services.

In order to protect your rights under applicable foreclosure law, it's important that you continue to respond to any foreclosure notices you may receive. If you don’t understand the legal consequences of foreclosure, you’re also encouraged to contact a lawyer or housing counselor for assistance.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7am-7pm local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For home affordable modification
call 1.800.720.3758

  • Mon-Thu 8 a.m.-midnight ET
  • Fri 8 a.m.-10p.m. ET
  • Sat 8 a.m.-5 p.m. ET
  • Sun 3 p.m.-midnight ET

If you qualify, your loan may receive some or all of the following changes:

  • Principal Forgiveness: Your outstanding principal balance may be reduced to no more than the property's current market value
  • Interest Rate Reduction: Your rate may be reduced either permanently or temporarily
  • Term Extension: The final due date of the loan may be extended and your loan payments may be recalculated over a longer period of time
  • Forbearance: We may be able to postpone your home loan payments for a set amount of time if you're suffering from a temporary financial hardship. The postponed amount will be interest-free.

Please note: Before you enter into a loan modification, you should consult a tax professional to understand any tax implications that may be associated with receiving a modification.

You'll receive a letter explaining the reason your loan didn't qualify. We'll also automatically review your information for other foreclosure prevention options. If any additional information is needed to review your eligibility, you'll get a letter requesting this information.

Active duty military personnel are protected from the start or advancement of foreclosure proceedings while receiving benefits under the Servicemembers Civil Relief Act.

If you're not protected under the Act:

We won't start or advance foreclosure proceedings while your loan is under review for a modification. The evaluation process begins when we receive all documents we've requested from you. No foreclosure sale will be conducted and you won't lose your home during the evaluation.

We don't charge fees for a modification. However, third party fees such as attorney fees and recording fees may apply and you'll be responsible for payment.

Yes. Staying current on your payments is the best way to maintain your credit. However, if you need to enter into a modification, your credit may be negatively affected. Your loan will be reported as “paying under a partial payment plan” during the trial period, and as “modified” after the final modification agreement. In addition, if you're behind on your payments when you start your trial period, your loan will be reported as “delinquent” until it has been permanently modified, even if you're making your trial period payments. A modification is intended to enable you to keep your home.

Credit scores are determined by the credit bureaus and not controlled directly by Bank of America. Our commitment is to accurately report the status of all our customers.

Customers who are past due are strongly encouraged to contact a Department of Housing and Urban Development (HUD) approved counselor to understand all of the available options and to create a workable budget. However, homeowner counseling is only required for borrowers whose total monthly debts are very high in relation to their incomes. It's voluntary for other applicants.

When you apply for a modification program, we'll evaluate your monthly debts, including:

  • The amount you'll owe on the new mortgage payment after it is modified
  • Payments on a second mortgage, car loans, credit cards, etc.

If the sum of all of these recurring monthly expenses is equal to or more than 55% of your gross monthly income, you must agree to participate in housing counseling provided by a HUD-approved housing counselor as a condition of receiving a modification.

For military modification
call 1.877.345.0693

Assistance is available 24 hours a day, 7 days a week.

FHA Document Form

One quick way to check and see if your mortgage may be FHA-insured is to look at page 2 of your monthly loan statement. On the right side of the document under "Loan Type and Term," you'll see the length of the term and the type of loan that our system shows you may have.

If you're having difficulty finding the information, call us.

If you don't have an FHA loan, you may be eligible for a modification under the Home Affordable Modification Program.

No. If you're struggling now, or believe it will soon be difficult for you to make your next mortgage payment on time due to a hardship (you may hear this referred to as "imminent default"), you may qualify under the FHA-HAMP Program. As a homeowner, you may find yourself in this situation because of a significant increase in your mortgage payment, a significant reduction in your household income, or some other hardship that makes it difficult to pay your mortgage. You'll be required to document your income and expenses and provide evidence of the financial hardship.

For FHA home affordable modification
call 1.800.846.2222

  • 8am-12am ET Mon-Fri
  • 8am-8pm ET Sat
  • 3pm-12am ET Sun

In most cases, your initial interest rate and payment will be lowered. The new payment amount will depend on your specific situation. The particular methods used to lower your payment will be specified in your Modification Agreement.

Yes. We'll review your eligibility for all programs, including this one.

Please contact us. If it's the right option for you, we’ll provide you with additional information and documents to initiate a short sale.

If you can no longer afford to make your mortgage payments and your house is worth less than you owe, a short sale allows you to sell your house at the current fair market value. You then have the option to move to a more affordable situation. Because the proceeds from the sale may not pay off all that you owe, the investor or owner of your loan must approve the sale. Depending on your situation, you may be eligible for a deficiency waiver. In that case, you won’t be required to repay any remaining loan balance after the sale.

For the Home Affordable Second Lien Modification,
call 1.800.669.6650

  • 10am-10pm ET Mon-Fri

Depending on your loan and circumstances, it may be possible. Please call us to discuss your options.

In that case, it may be possible to sell the property via an FHA Short Sale.

You may still be able to pursue a HAFA short sale. Please call us to discuss your options.

You can search for real estate professionals in your area who are experienced with Bank of America short sales.

Because you would sell your home for less than the loan amount in a short sale, you won't receive any money from the sale of your house. However, you may be eligible to receive $3,000–$30,0001 in relocation assistance under the terms of the HAFA Short Sale Notice. If you aren't the primary resident of your property, you may request that the tenant receive the $3,000 in HAFA relocation assistance. Any additional amount above $3,000 may be paid to you.

You may still settle your mortgage debt by signing over your property to us through a deed in lieu of foreclosure.

There are benefits to doing a deed in lieu over a foreclosure. A deed in lieu of foreclosure spares you from having to go through the public auction or sale of your property.

If you sign your property over to us in a deed in lieu of foreclosure after trying to sell your property through the Home Affordable Foreclosure alternatives program, you may be eligible to receive up to $3,000 to help you with moving, rental and relocation expenses.

A loan can be transferred to a different servicer while in the process of a short sale. You may hear this referred to as a service release. A loan servicer sends your loan statements, collects your monthly payments (principal, interest, taxes and insurance) and handles other aspects of your loan. You'll be notified at least 15 calendar days in advance if your loan is going to be transferred to a new servicer. Your new servicer will be aware of your short sale status and should have received all of your documents from us. You should continue to work with the new servicer to complete the process you've started or to determine which programs may be most helpful in your current situation.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

1 The relocation assistance payment is calculated based on the appraised value of your property and the program rules. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered after the closing if you comply with all terms and conditions of the program, which include but are not limited to the following: a valuation of the property must be completed and you must satisfy all subordinate liens and provide clear title for the property. If you are still responsible for a deficiency balance after the sale, you should be aware that this relocation assistance will increase that deficiency since it reduces the amount available to apply towards your mortgage debt. If you do not comply with all terms and conditions of the program, you will not receive the relocation assistance payment. The amount of any relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that you contact the IRS or your tax preparer to determine if you have any tax liability. In order to receive the relocation assistance, the short sale must close by April 30, 2014. Bank of America reserves the right to change or alter the relocation assistance at any time.

For home affordable foreclosure alternatives
call 1.866.880.1232

  • Mon-Fri 8 a.m.-10 p.m. ET
  • Sat 11 a.m.-4 p.m. ET

If you don't meet the eligibility requirements for the Cooperative Short Sale program, it may still be possible to sell your house through a traditional short sale. You can work with a real estate agent who is knowledgeable about short sales and can list your house at fair market value.

If you're unable to sell your house through a short sale, your next option may be a deed in lieu of foreclosure. This option allows you to transfer the title or ownership of the property to the owner or of your home loan in order to satisfy your mortgage debt and avoid foreclosure.

Please contact us to review your options.

It may be possible, depending on your loan and circumstances. Please call us to discuss your options.

You may search a list of real estate agents in your area to find one who has successfully completed short sales with us in the past, or you may decide to hire another agent.

Because you would sell your house for less than the loan amount in a short sale, you won't receive any money from the sale of your house. However, you may be eligible to receive $2,500–$30,0001 in relocation assistance under the terms of the Cooperative Short Sale program.

You may request an extension that would allow you to continue to market the house for sale. If the agreement isn't extended, you may still be able to settle your mortgage debt by signing over your house to us through a deed in lieu of foreclosure.

There are benefits to doing a deed in lieu of foreclosure over a foreclosure. This spares you from having to go through the public auction of your house.

If a short sale is completed on your property, we'll report that your loan was "paid in full for less than the full balance." You may consider consulting a credit expert or searching online for more information. To learn more about the potential effect of a short sale on your credit, please visit the Federal Trade Commission website.

You should contact a tax professional to gain an understanding of any tax implications.

In that case, you'll follow the traditional short sale process. As soon as you receive an offer, if you are not already participating in a program, a traditional short sale is started.

You can contact your assigned Customer Relationship Manager to discuss any concerns that you have regarding your short sale.

A loan can be transferred to a different servicer while in the process of a short sale. You may hear this referred to as a service release. A loan servicer sends your loan statements, collects your monthly payments (principal, interest, taxes and insurance) and handles other aspects of your loan. You'll be notified at least 15 calendar days in advance if your loan is going to be transferred to a new servicer. Your new servicer will be aware of your short sale status and should have received all of your documents from us. You should continue to work with the new servicer to complete the process you've started or to determine which programs may be most helpful in your current situation.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

1 The relocation assistance payment is calculated based on the appraised value of your property and the program rules. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered after the closing if you comply with all terms and conditions of the program, which include but are not limited to the following: a valuation of the property must be completed and you must satisfy all subordinate liens and provide clear title for the property. If you are still responsible for a deficiency balance after the sale, you should be aware that this relocation assistance will increase that deficiency since it reduces the amount available to apply towards your mortgage debt. If you do not comply with all terms and conditions of the program, you will not receive the relocation assistance payment. The amount of any relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that you contact the IRS or your tax preparer to determine if you have any tax liability. In order to receive the relocation assistance, the short sale must close by April 30, 2014. Bank of America reserves the right to change or alter the relocation assistance at any time.

For cooperative short sale
call 1.866.880.1232

  • Mon-Fri 8 a.m.-10 p.m. ET
  • Sat 11 a.m.-4 p.m. ET

Forbearance is granted for a set period of time. But in many cases where resolving your hardship is dependent on an outside third-party, like an insurance company or getting hired after a period of unemployment, we may be able to extend the forbearance period to accommodate your situation. The additional missed payments and interest will be added to the total amount you'll need to repay.

If your first mortgage is with us, you may still be eligible to receive forbearance on your first mortgage, even if you have a second mortgage with us or another lender.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu, you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For forbearance,
call 1.800.669.0102

  • Mon-Fri 8 a.m.-midnight ET
  • Sat 8 a.m.-8 p.m. ET
  • Sun 3 p.m.-midnight ET

We offer a variety of modification options. These programs are designed to address a variety of circumstances, including underemployment and military service. When you contact us to discuss your situation, we'll first check to see if you're eligible for the federal government’s Home Affordable Modification Program. If you're not eligible for the Home Affordable Modification Program or if you have chosen not to participate, we will evaluate your request to see if there are any other loan modification options available to you which would allow you to stay in your home.

Each program has its own method of modifying loans and its own criteria for which loans are eligible. The federal government and the investors or owners of the loans we service set their own guidelines and requirements for the programs. We're here to help you find potential solutions. When you contact us for home loan assistance, we'll review your eligibility for all available modification programs.

Yes. Staying current on your payments is the best way to maintain your credit. However, if you need to enter into a modification, your credit may be negatively affected. Your loan will be reported as “paying under a partial payment plan” during the trial period, and as “modified” after the final modification agreement. In addition, if you're behind on your payments when you start your trial period, your loan will be reported as “delinquent” until it has been permanently modified, even if you're making your trial period payments. A modification is intended to enable you to keep your home.

Credit scores Opens a new window are determined by the credit bureaus and not controlled directly by Bank of America. Our commitment is to accurately report the status of all our customers.

We don't charge fees for a modification. However, you may be responsible for administrative expenses that Bank of America pays to third parties, such as attorney fees and recording fees.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7am-7pm local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For Bank of America Home Loan Modification,
call 1.800.846.2222

  • Mon-Thu 8 a.m.-midnight ET
  • Fri 8 a.m.-10p.m. ET
  • Sat 8 a.m.-5 p.m. ET
  • Sun 3 p.m.-midnight ET

It's made up of funds that the federal government distributes to the states that were hardest hit by the economic crisis. It includes a set of programs designed to help homeowners faced with a variety of financial hardships.

If you haven't completed a short sale or deed in lieu and your property is in a participating state, you may be eligible for the Transition Assistance Program, which is part of the Hardest Hit Fund.

See if your state participates in one or more Hardest Hit Fund programs. If so, visit your state's website as soon as possible for more information on how to apply.

If you live in Arizona, California or Ohio, your loan is not owned by Fannie Mae or Freddie Mac and you're interested in the Hardest Hit Fund Principal Reduction Program, you'll need to start by applying for a Home Affordable Modification apply for a Home Affordable Modification. Please call us at 1.800.846.2222 to discuss your options.

Due to limitations in federal funding, new states aren't likely to participate in the Hardest Hit Fund. If your state isn't currently part of the Hardest Hit Fund program, it is unlikely to be approved for this program in the future. Choose your state to find out if it's currently part of the Hardest Hit Fund program.

If you're eligible, the financial information packet you receive as part of your modification application will contain a Third-Party Authorization. You’ll need to fill it out and return it to us. We'll then be able to review your eligibility for the Hardest Hit Fund Principal Reduction Program.

If you didn't receive a Third-Party Authorization, live in a participating state and your loan is not owned by Fannie Mae or Freddie Mac, please call us and speak with a specialist.

Please note: If you're unemployed and call us to apply for a home loan modification, we may speak with you about a home loan assistance program designed for unemployed homeowners. In that situation, you may need to decide which type of assistance you wish to pursue, because you may only take advantage of one program at one time.

For Hardest Hit Fund,
call 1.800.846.2222

  • Mon-Thu 8 a.m.-midnight ET
  • Fri 8 a.m.-10 p.m. ET
  • Sat 8 a.m.-5 p.m. ET
  • Sun 3 p.m.-midnight ET

Yes. When you call our specialists, be sure to ask the representative to evaluate both your first mortgage and your home equity loan or home equity line of credit. Your Customer Relationship Manager will go over your financial information with you and compare it to all available loan assistance solutions. If you qualify, we can help you modify both your first mortgage and your home equity account.

Yes. If you qualify, we'll help you modify the home equity loan or home equity line of credit that you have with us. If you're facing a financial hardship, we also recommend that you contact your first mortgage servicer about modifying or refinancing that loan.

Yes, but only through one of our own Bank of America programs that you may qualify for. In order to modify your home equity loan or home equity line of credit through the government’s Home Affordable Second Lien Modification Program, you must first complete a modification of your first mortgage under the government's Home Affordable Modification Program.

Yes. Staying current on your payments is the best way to maintain your credit. If you enter into a modification, your credit may be negatively affected. Your loan will be reported as "paying under a partial payment plan" during the trial period, and as "modified" after the final modification agreement. In addition, if you’re behind on your payments when you start your trial period, your loan will continue to be reported as delinquent until it has been permanently modified, even if you're making your trial period payments. A modification is intended to enable you to keep your home, not repair your credit.

Credit scores are determined by the credit bureaus and not controlled directly by Bank of America. Our commitment is to accurately report the status of all our customers.

Please call us. If it's the right option for you, we’ll provide you with additional information and documents to initiate a short sale.

If you can no longer afford to make your mortgage payments and your house is worth less than you owe, a short sale allows you to sell your house at the current fair market value. You then have the option to move to a more affordable situation. Because the proceeds from the sale may not pay off all that you owe, the investor or owner of your loan must approve the sale. Depending on your situation, you may be eligible for a deficiency waiver. In that case, you won’t be required to repay any remaining loan balance after the sale.

For Home Equity Assistance,
call 1.800.669.6650

  • Mon-Fri 10 a.m.-10 p.m. ET

Please call us to discuss your options. Together, we'll review your loan according to FHA guidelines to determine if you are eligible for a short sale. In most situations, you must be reviewed for a loan modification or other FHA home retention options before you can be eligible for a short sale. Once we have FHA approval to pursue a short sale, we'll determine the minimum sale price and work with a real estate agent of your choice to market and sell the property.

You may still be eligible, depending on your loan and circumstances. Please call us to discuss your options.

Once you have submitted all of the required documents, have a valid offer on the property, and signed and returned FHA's Approval to Participate, the foreclosure process is halted while you are pursuing the sale, subject to applicable law.

The property must generally be owner occupied. You may be allowed to proceed with a short sale if you had to move out because of the adverse financial circumstances (typically caused by job loss, transfer, divorce or a death) that prevented you from making your mortgage payments.  In addition, your property must not have been purchased as a rental investment or used as a rental unit for more than 18 months.

You may search a list of real estate agents who have successfully completed short sales with us in the past, or you may decide to work with another agent.

If you're unable to sell your house within 120 days, you may be eligible for a deed in lieu of foreclosure.

There are benefits to a deed in lieu over a foreclosure. A deed in lieu spares you from having to go through the public auction of your house. The deed in lieu process generally takes less time to complete than a foreclosure, so your reported delinquency could be shorter. As a result, your credit may improve faster than it would if your house goes to foreclosure.

No. A short sale means that you're selling your property for less than the loan amount, so there can't be money left over for you. However, you may qualify to receive up to $1,000 in relocation assistance.

A loan can be transferred to a different servicer while in the process of a short sale. You may hear this referred to as a service release. A loan servicer sends your loan statements, collects your monthly payments (principal, interest, taxes and insurance) and handles other aspects of your loan. You will be notified at least 15 calendar days in advance if your loan is going to be transferred. Your new servicer will be aware of your short sale status and should have received all of your documents from us. You should continue to work with the new servicer to complete the process you have started or to determine which programs may be most helpful in your current situation.

If the FHA doesn't approve your request for an FHA Short Sale and you can't maintain ownership through an FHA home retention option, normal servicing of your loan will continue and may include foreclosure, subject to applicable law.

For FHA Short Sale Program,
call us today at: 1.800.669.6650

  • 8am-12am ET Mon-Fri
  • 8am-8pm ET Sat

The short answer is yes. But before you consider a short sale, there are many other options to explore. For example, refinancing or modifying your home loan payments may allow you to stay in your house with more affordable mortgage payments. Call one of our specialists to help determine other options for which you may qualify. They'll work with you to help you determine your best course of action.

Depending on your loan and circumstances, it may be possible. Please call us to discuss your options.

You may search a list of real estate agents in your area to find one who has successfully completed short sales with us in the past, or you may decide to hire another agent.

No. However, qualified homeowners may be eligible for relocation assistance1 through the Home Affordable Foreclosure Alternatives program and the Cooperative Short Sale program. In these federal government-sponsored programs, homeowners work with us prior to putting the property on the market. If you appear to be eligible, we'll mail you information on how to participate in one of the programs.

Because of the number of people and amount of paperwork involved in a short sale, it can take longer than a traditional home sale. Typically it takes up to 90 calendar days after the initial offer is accepted to finalize, although timelines can vary based upon current market conditions and your particular circumstances.

If a short sale is completed on your property, we'll report that your loan was "paid in full for less than the full balance." Learn more about the potential effect of a short sale on your credit.

You should contact a tax professional to gain an understanding of any tax implications.

If we're unable to get approvals from all the necessary parties, a deed in lieu of foreclosure may be available to you. With a deed in lieu of foreclosure, you agree to transfer the title or ownership of your property to the owner or servicer of your loan in order to avoid foreclosure sale and satisfy all or a portion of the mortgage debt. The amount of debt satisfied by this transfer of ownership is based on the approved value of your home. In some cases, you may be responsible for a remaining balance of the mortgage debt over and above the approved value. A deed in lieu generally takes less time to complete than a foreclosure, so your reported delinquency could be shorter than it would with a foreclosure.

You should contact a tax professional to gain an understanding of any tax implications.

A loan can be transferred to a different servicer while in the process of a short sale. You may hear this referred to as a service release. A loan servicer sends your loan statements, collects your monthly payments (principal, interest, taxes and insurance) and handles other aspects of your loan. You'll be notified at least 15 calendar days in advance if your loan is going to be transferred. Your new servicer will be aware of your short sale status and should have received all of your documents from us. You should continue to work with the new servicer to complete the process you've started or to determine which programs may be most helpful in your current situation.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

1 The relocation assistance payment is calculated based on the appraised value of your property and the program rules. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered after the closing if you comply with all terms and conditions of the program, which include but are not limited to the following: a valuation of the property must be completed and you must satisfy all subordinate liens and provide clear title for the property. If you are still responsible for a deficiency balance after the sale, you should be aware that this relocation assistance will increase that deficiency since it reduces the amount available to apply towards your mortgage debt. If you do not comply with all terms and conditions of the program, you will not receive the relocation assistance payment. The amount of any relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that you contact the IRS or your tax preparer to determine if you have any tax liability. In order to receive the relocation assistance, the short sale must close by April 30, 2014. Bank of America reserves the right to change or alter the relocation assistance at any time.

For the traditional short sale process, call
1.866.880.1232

  • Mon-Fri 8 a.m.-10 p.m. ET
  • Sat 11 a.m.-4 p.m. ET

No. You can work directly with us to process your request.

No. A deed in lieu must be processed with the lender that holds your mortgage or the company to which you make your monthly payments.

If you have a second lien on your house (also known as a home equity loan or a home equity line of credit), you need the lender’s approval to proceed with a deed in lieu. In order to be approved for a deed in lieu, the title to the property must be clear. If your second lien is with Bank of America, we will complete your Second Lien Release form and work to get approval for your deed in lieu request. If your second lien is with another lender, you will need to contact them and request a Second Lien Release form. The lender needs to provide this form, sign it to indicate that they approve of the offer, and send it to you.

The length of time depends on your loan and circumstances. It generally takes around 90 days from the date we receive your financial documents. Once approved, you will be given 14 to 30 calendar days to relocate.

If you've already explored all options to keep the property, normal processing of your loan will continue and may include foreclosure, subject to applicable law. If you have questions about your options, please contact us for assistance.

Although a deed in lieu may have a negative effect on your credit, by completing this transaction you’ll avoid a public sale and can begin rebuilding your credit sooner.

We will continue to report the actual status of your account to all credit reporting agencies in accordance with the Fair Credit Reporting Act (FCRA). Upon completion of your transaction, we will report your account as "deed received in lieu of foreclosure on a defaulted mortgage" if you complete a deed in lieu of foreclosure.

Learn more Opens a pop up window about the potential impact of a deed in lieu on your credit.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7am-7pm local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For deed in lieu
call 1.877.430.3411

  • Mon-Fri 7 a.m.-10 p.m. ET
  • Sat 9 a.m.-5 p.m. ET

Yes, there are alternatives to foreclosure, including short sale and deed in lieu that may allow you to settle your mortgage debt. Please contact us right away to explore options that may be available to you.

Yes. We won't start or advance foreclosure proceedings while your loan is under review for loan assistance. The evaluation process begins when we receive all documents we've requested from you. No foreclosure sale will be conducted and you won't lose your home during the evaluation. When you enter a trial period under the program, all foreclosure proceedings remain on hold so long as you are complying with the terms of your Trial Period Plan.

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For foreclosure, if you're behind on your payments,
call 1.800.846.2222

  • Mon-Thu 8 a.m.-midnight ET
  • Fri 8 a.m.-10 p.m. ET
  • Sat 8 a.m.-5 p.m. ET
  • Sun 3 p.m.-midnight ET

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • You met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • You did not receive adequate notice from us about your foreclosure alternatives
    • You were not given appropriate time to respond to communications from us during your loan review process
  • Your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • You have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • You have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7 a.m.-7 p.m. local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For home affordable unemployment alternatives
call 1.800.669.6650

  • Mon-Thu 8 a.m.-midnight ET
  • Fri 8 a.m.-10 p.m. ET
  • Sat 8 a.m.-6 p.m. ET
  • Sun 3 p.m.-midnight ET

Depending on your loan status, there may be fees associated with your mortgage. For example, there are charges for certain payment options, late payments and returned checks. You can see these on our list of mortgage servicing fees. If you are not able to make your mortgage payments, you may incur charges related to nonpayment of your loan. You can see these on our list of default related service fees.

Your mortgage account may be charged for costs associated with nonpayment. Learn more about specific charges by viewing default related service fees.

For servicing fees
call 1.800.669.6607

  • 7am-7pm local time

If you were denied home loan assistance, such as a request for a loan modification, short sale or deed in lieu you may be able to dispute the decision. You can file an escalated case with us if you have reason to believe any of the following are true:

  • you met all the criteria for home loan assistance but were not properly evaluated for assistance or were improperly denied assistance. This may include:
    • you did not receive adequate notice from us about your foreclosure alternatives
    • you were not given appropriate time to respond to communications from us during your loan review process
  • your loan was referred to foreclosure prematurely, or we did not suspend foreclosure activities when we were required to do so

You can also file an escalated case if either of these two specific concerns apply to your loan:

  • you have a reasonable belief that your mortgage loan is being serviced in a fraudulent manner
  • you have retained a lawyer to help you resolve a mortgage dispute with Bank of America

If you have reason to believe that any of the above apply in connection with your loan review and affected your eligibility for home loan assistance, you may file an escalated case with us to review your concerns.

Please note that inquiries about a pending request for home loan assistance or general questions about the servicing of your mortgage do not meet the requirements for an escalated case. For general servicing questions, please call 1.800.669.6607 (Monday-Friday, 7am-7pm local time).

To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. If you are represented by an attorney, please have your lawyer submit this request on your behalf.

Escalated case requests must be sent by mail to the following address:

  • Bank of America Corporate Center
    Attn: BAC Escalated Case Unit
    P.O. Box 940508
    Simi Valley, CA 93094-0508

Please note that if a third party, such as an advisor or a nonprofit advocate, contacts us to submit an escalated case on your behalf, we must have your written authorization before we can communicate with them about you or your loan. Without your written authorization, we will not be able to discuss your home loan with them. We can provide you with an authorization form upon request.

What to expect after submitting your request

Within three business days after receipt:

  • If your submission meets the requirements for an escalated case, within three business days of the receipt of your request, we will send you a written acknowledgement that we have received your request. This acknowledgement will also include the estimated date by which your escalated case should be resolved, along with a toll-free number for the Escalated Case Unit.

Within 15 calendar days after receipt:

  • In most cases, within 15 calendar days of receiving your request, we will mail you a written response describing the proposed resolution of your request and any next steps to be followed by you or by us. If your matter cannot be resolved within 15 calendar days, we will notify you of the delay and give you a new estimated resolution date. This new estimated resolution date, in most cases, will be no longer than 30 calendar days from the date we received your original escalated case.

Checking the status of your escalated case

Your written confirmation will include a toll-free number you can call for information about your escalated case.

For escalations
call 1.800.669.6607

  • 7am-7pm local time

Please mail all notices of error or requests for information to:

  • Bank of America
    Attn: Notice of Error & Request for Information
    P.O. Box 942019
    Simi Valley, CA 93094-2019

It's a written notice from you that details error(s) you believe have been made relating to the servicing of your loan. Your notice must include:

  • Your name
  • Your loan number and/or property address
  • Details about the error(s) you believe have taken place

Only errors related to the servicing of your home loan are covered through this process.

A request for information applies generally to any written request from you for information about the servicing of your mortgage. Please make sure your request includes:

  • Your name
  • Your loan number and/or property address
  • Details about the specific type of information you are requesting from us about your mortgage

No, a notice on a payment coupon or any other payment form isn't considered a notice of error or request for information.

If you have a question or concern about a payment, please call us at 1.800.669.6607 (Monday-Friday 7 a.m.-
7 p.m. local time).

Within 5 business days from when we receive your request, we'll mail you a letter to let you know that we've received your request.

Then, within 30 business days after we receive your request, we'll mail you a letter providing details on the outcome of our investigation. If we agree that an error has occurred, we'll correct the error and include this in our response.

Please note that if the error relates to providing an accurate payoff balance, we'll respond within 7 business days.

If we determine that an error has occurred, we'll mail you a letter explaining:

  • The correction that was made
  • The date when the correction was made
  • Information about how you can contact us if you need further assistance

If we discover that no error took place, we'll mail you a letter explaining:

  • That no error happened
  • The reason(s) for that determination
  • Details about your right to ask for the documents we reviewed to determine that no error took place and how to submit that request
  • Information about how you can contact us if you need further assistance

Please note that if we determine that additional time may be required to properly research your request, we may extend the review period by 15 business days. If this extra time is needed, we'll mail you a letter before the end of the 30 business-day review period to let you know, and we'll explain the reasons why the extended review is needed.

Within 5 business days from when we receive your request for information, we'll provide you a letter letting you know that we received your request.

Then, within 30 business days after we receive your written request, we'll:

  • Either provide the information requested
  • Or conduct a reasonable search for the information and provide you with a written notice that the information isn't available

If the information you requested isn't available, we'll mail you a letter with details about how you can contact us if you need further assistance.

Please note that if we determine that additional time may be required, we may extend the response period by 15 business days. If this extra time is needed, we'll mail you a letter before the end of the 30 business-day research period to let you know, and we'll explain the reasons why the additional days are needed.

We'll be happy to continue to service your account through email, phone and our banking centers. However, we encourage you to submit any notices of error or requests for information to us in writing at the P.O. Box above to make sure that you receive all the protections under the Real Estate Settlement Procedures Act (RESPA).

No, we do not charge a fee for responding to notices of error or requests for information.

For notices of error
call 1.800.669.6607

  • 7am-7pm local time

In the mortgage lending industry, it is a common practice to transfer or sell the loan servicing to other experienced mortgage service providers. After a loan is transferred, the new servicer takes care of all loan servicing needs including billing, payment processing and customer support.

Yes, you will be sent a letter at least 15 calendar days in advance of the change, with information about your new servicer. It will explain that monthly statements and other account information will come from the new servicer and that they will help you with any questions about your loan, including any loan assistance solutions. The new servicer will also send a welcome letter introducing themselves to you.

We expect that the quality of your loan service will not change. Your loan will be transferred to an experienced mortgage servicer who will work with you on your mortgage concerns.

The loan assistance programs that may be offered by your new servicer are determined by the owner (also known as the investor) or insurer of your loan. The servicer of your loan is required to evaluate any loan assistance request under the guidelines set forth by the owner or insurer of your loan. If you experience a hardship and struggle with making your home loan payments after the servicing of your loan has been transferred, please contact your new servicer right away to request help. Your new servicer will determine which program may be right for you based on the applicable investor or insurer guidelines.

If you are being considered for a loan modification or other foreclosure avoidance programs when your loan is transferred, your new servicer will be aware of your status and should receive all of your documents from us. You should work with your new servicer to complete the process you have started or determine which programs may best suit your current situation. If you are currently awaiting a decision regarding qualification for these programs, that decision will now be made by your new servicer.

After the transfer is complete, your mortgage account will be moved to the new servicer. As a result, you would no longer access your mortgage information through Bank of America. Prior to the transfer, you may choose to download any information currently online to keep for your own records, such as tax documents, mortgage statements, payment history, etc. The new servicer will be able to provide you with information about access to your loan account information following the transfer. If you have any other accounts with Bank of America, such as checking, savings or credit card, you will still be able to access those accounts through Bank of America’s online banking.

For servicing transfers
call 1.800.669.6607

  • 7am-7pm local time