The roots of bank of America extend back as far as 240 years ago when the first segments of the bank started helping individuals and communities reach their goals. Today, they are a local company with a global focus, aimed at serving nearly 6 million small businesses and private clients across the world.
They are considered global leaders in wealth management as well as corporate and investment banking across a wide range of assets. This service provides for many private individuals, corporations, and government organizations in 35 different countries, including all the US territories.
With the question “What would you like the power to do?” at the core of the company, this bank is focused on the needs and requirements of the people and companies they serve every day. Through constant communication, they aim to stay involved in their client’s goals and dreams. This, they recognize this as the key to their long-lived success as a financial institution. This has also been their strategy throughout the coronavirus pandemic.
This pandemic has left many financially crippled, with its huge impact not only on society and the economy but also on personal lives and well being. Many have lost their jobs or have taken pay cuts due to the lockdown, which has had a significant impact on personal financial stability. Bank of America recognizes the need to assist and aid its clients that have suffered through this terrible time and have put in place several support structures to help prevent foreclosure.
According to Brian Moynihan, the CEO of Bank of America, they are focusing their resources on the number one priority, which is looking after people. We offer counseling services for anyone facing foreclosure and can help with several options to either stay in your home or sell your home if that is your desire.
These options include allowing customers to defer home loan payments for up to 90 days, while lapsed fees will be added to the end of the loan term. As an additional aid during this time, your credit score will not be affected negatively due to deferred payments. Finally, Bank of America is also pausing evictions, repossessions, and foreclosure sales for those impacted financially by the coronavirus pandemic.
If you fear you may be facing foreclosure on your home, even if you have already received a foreclosure notice, there is still time to make the change. Bank of America is there to help you. You can contact their client assistance program on 800-669-6650 between Mondays and Fridays from 8 am to 8 pm. They can assist you with all of your home loan queries in English, Spanish, and many other languages. Alternatively, you can also reach them through their website. Here you will be able to contact Bank of America’s assistance program dedicated explicitly to clients facing financial difficulty due to the pandemic.