Bank of America is making mortgage headlines again by introducing three new loan modification improvements that are specifically designed to assistant military personnel who are behind on their house payments. The three new changes are:
A program designed to help reduce principal on loans for military members who are behind on their payments when leaving active duty.A new 4% mortgage for members who are eligible for SCRA (Servicemember Civil Relief Act) protection.The creation of a special customer service department that specializes in working with military customers.
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