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Bank of America Announces Program for Servicemembers
HOW LOANRATEUPDATE WORKS
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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Bank of America Announces Program for Servicemembers
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Bank of America Announces Program for Servicemembers

March 14, 2011 (Jeff Alan)
mortgage-military-bofahelp-image
Bank of America today announced the new “Military Loan Modification Program,” aimed at providing mortgage relief for active duty military customers behind on their payments and extending mortgage protections for servicemembers beyond active duty. The program takes effect April 1, 2011.

Key features of the new program are:

– An immediate principal forgiveness program for distressed military borrowers which can reduce the loan-to-value ratio to as low as 100 percent of current market value;

– A reduced four percent interest rate on mortgages for customers who are eligible for Servicemembers Civil Relief Act (SCRA) protection, which is lower than the 6 percent mandated under SCRA. The 4 percent rate will be applicable for the duration of the borrowers’ active duty and for 12 months after release;

– And a mortgage customer service unit dedicated to servicing military customers.

“Our new Military Loan Modification Program builds on our long-standing commitment to the United States military forces and will help address the heavy burden of financial matters at home that can weigh on those who are protecting our freedoms,” said Terry Laughlin, executive vice president for Bank of America. “Military men and women face extraordinary circumstances, and they make unique sacrifices for all of us. For these reasons, we want this combination of tools to address their needs and help them when they need it most.”

The program will initially target mortgages owned and serviced by Bank of America, but the company is also in talks with investors in other mortgages it services to expand benefits to those customers as well.

Bank of America’s customer service unit for military customers can be reached at 888-325-5357.

Tags: Bank of America, loan modification program, servicemembers, veterans, active duty, principal forgiveness, interest rate reduction, mortgage customer service

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Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
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March 14, 2011 (Jeff Alan)
mortgage-military-bofahelp-image
Bank of America today announced the new “Military Loan Modification Program,” aimed at providing mortgage relief for active duty military customers behind on their payments and extending mortgage protections for servicemembers beyond active duty. The program takes effect April 1, 2011.

Key features of the new program are:

– An immediate principal forgiveness program for distressed military borrowers which can reduce the loan-to-value ratio to as low as 100 percent of current market value;

– A reduced four percent interest rate on mortgages for customers who are eligible for Servicemembers Civil Relief Act (SCRA) protection, which is lower than the 6 percent mandated under SCRA. The 4 percent rate will be applicable for the duration of the borrowers’ active duty and for 12 months after release;

– And a mortgage customer service unit dedicated to servicing military customers.

“Our new Military Loan Modification Program builds on our long-standing commitment to the United States military forces and will help address the heavy burden of financial matters at home that can weigh on those who are protecting our freedoms,” said Terry Laughlin, executive vice president for Bank of America. “Military men and women face extraordinary circumstances, and they make unique sacrifices for all of us. For these reasons, we want this combination of tools to address their needs and help them when they need it most.”

The program will initially target mortgages owned and serviced by Bank of America, but the company is also in talks with investors in other mortgages it services to expand benefits to those customers as well.

Bank of America’s customer service unit for military customers can be reached at 888-325-5357.

Tags: Bank of America, loan modification program, servicemembers, veterans, active duty, principal forgiveness, interest rate reduction, mortgage customer service

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 14, 2011 (Jeff Alan)
mortgage-military-bofahelp-image
Bank of America today announced the new “Military Loan Modification Program,” aimed at providing mortgage relief for active duty military customers behind on their payments and extending mortgage protections for servicemembers beyond active duty. The program takes effect April 1, 2011.

Key features of the new program are:

– An immediate principal forgiveness program for distressed military borrowers which can reduce the loan-to-value ratio to as low as 100 percent of current market value;

– A reduced four percent interest rate on mortgages for customers who are eligible for Servicemembers Civil Relief Act (SCRA) protection, which is lower than the 6 percent mandated under SCRA. The 4 percent rate will be applicable for the duration of the borrowers’ active duty and for 12 months after release;

– And a mortgage customer service unit dedicated to servicing military customers.

“Our new Military Loan Modification Program builds on our long-standing commitment to the United States military forces and will help address the heavy burden of financial matters at home that can weigh on those who are protecting our freedoms,” said Terry Laughlin, executive vice president for Bank of America. “Military men and women face extraordinary circumstances, and they make unique sacrifices for all of us. For these reasons, we want this combination of tools to address their needs and help them when they need it most.”

The program will initially target mortgages owned and serviced by Bank of America, but the company is also in talks with investors in other mortgages it services to expand benefits to those customers as well.

Bank of America’s customer service unit for military customers can be reached at 888-325-5357.

Tags: Bank of America, loan modification program, servicemembers, veterans, active duty, principal forgiveness, interest rate reduction, mortgage customer service

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS