Bank of America offers mortgage modification advice

For the first time on Long Island, Bank of America will hold a loan modification marathon for troubled homeowners, from Thursday to Saturday.

Borrowers can bring financial documents to the Long Island Marriott Hotel and Conference Center at 101 James Doolittle Blvd. in Uniondale. From 8 a.m. to 6:30 p.m., they can try to lower interest rates, scan in documents and talk to nonprofit housing counselors, who can stay with borrowers as they meet with bank representatives.

Some homeowners could even get a loan modification decision right there, said bank spokeswoman Jumana Bauwens. The bank sent about 9,400 letters to Long Island area borrowers, and about 400 have made appointments, she said.

“The main point is to bring all your documents and bring more than what you think you would need,” she said. “We try so hard to give them a decision that day, but most of the time, that one piece of missing paper . . . can make a difference between whether you can get a decision on the spot or not.”

Go to bankofamerica.com/outreachevent or the toll free 855-201-7426 for details and list of documents to bring.

-------------------
Read more of Inside Long Island Business