Wednesday, December 9, 2009
Both Bank of America and JP Morgan Chase & Co. are not able to help many borrowers because homeowners fail to complete mortgage relief paperwork. According to Jack Schakett, Bank of America's credit loss mitigation strategies executive, cited "ineffective communications with customers, shortcomings in document maintenance, misunderstandings about program requirements, and the inability to comply by some borrowers."
Even JP Morgan Chase said only 4,300 home owners have completed the paperwork, although 16,000 have been approved.
Even JP Morgan Chase said only 4,300 home owners have completed the paperwork, although 16,000 have been approved.



0 Comments:
Post a Comment
<< Real Estate Investment