Hello neighbors,

It seems that the Home Affordable Modification Program (HAMP) has certainly been keeping Bank of America busy with loan modifications. According to recent numbers, Bank of America has more than 600,000 modifications under their belt through a variety of programs since January 2008.

Since January 2008, there has been approximately 550,000 modifications outside of HAMP in which 59,000+  were completed within the first four months of 2010. In total, through both HAMP and non-HAMP programs, the company has fulfilled over 605,000 modifications since January 2008. Out of that number, 115,000 were completed this year.

Just in the 1st quarter of this year, Bank of America has loaned $70 billion to 320,000 of their customers for the purpose of home buying and refinancing.

When all other retention solutions for home ownership have been attempted remember you have at least two other alternatives, short sales or deed-in-lieu.