When you think of refinance, Bank of America refinance may be the best option. Bank of America is now able to offer mortgage refinancing and modification to homeowners in all sorts of bad situations. This is all because of over $75 billion in funding from President Obama’s stimulus program. With this program and Bank of America, homeowners may be able to easily lower their monthly payments, change the terms and conditions of their loan or get cash back from the equity that has built up on their home. Bank of America refinance is easier than ever. This is because of the housing market conditions, and new mortgage bailout programs. Now millions of people can get a mortgage refinancing or modification with Bank of America

Bank of America lender refinance is one of only a few mortgage lenders or banks that are authorized to offer homeowners loan refinance options from the stimulus plan. The stimulus plan provides the mortgage lenders and banks cash incentives to help struggling homeowners save their home and money by refinancing

. These cash incentives allow Bank of America to offer nearly any homeowner a mortgage refinance option that can save them a lot of money and prevent foreclosure. Bank of America is usually not the lowest rate lender but it really just comes down to the rate they can offer versus other lenders.

“What is Bank of America refinance all about?” you may ask. Is it really good to approach them? For that, you need to educate yourself about this prestigious bank. Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. They guarantee no fee mortgage plus are a 95% financing program with no private mortgage insurance, no lender fees, no third party fees and no closing costs. This is for people with good credit history although this bank only requires a 620 credit score. Now talking about refinancing, you may be eligible for refinancing only if you have at least 10% equity built up in your home and that you are current on your home loan payments. If you do not have enough equity built in your home, but have been current on your home loan payments for at least the past 12 months, you may still qualify for mortgage refinancing through the Home Affordable Refinance Program. The goal of the government’s Home Affordable Refinance Program is to help make monthly mortgage payments more affordable for customers who may not have sufficient equity in their home to qualify for traditional refinancing. Bank of America can help you see what potential benefits refinancing may have for you…

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