Bank of America finally ramps up mortgage modification program

After being named the bank with the worst record in mortgage modification, Bank of America (BAC) has finally expanded its staff to handle the growing number of troubled loans and offer mortgage modifications. At the end of July, the bank had helped only 27,985 people according to a report by the Treasury Department on the progress of the Making Homes Affordable program. That put Bank of America at the bottom of the list.

Since then the bank has beefed up its staff and in August it modified 40,000 more loans, according to the Washington Post. Most of the people who have been offered help under the program have yet to complete the process, the bank told the Post, but its goal is to modify 125,000 loans by November 1. Hopefully for the folks who have been battling with the bank this goal will be exceeded.