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BOA: We're Trying To Help

POSTED: 9:33 pm MST September 24, 2009
UPDATED: 9:35 am MST September 25, 2009

Bank of America’s senior Vice President Dan Frahm made a promise to CBS 5 viewers last week. He said that anyone who used the CBS 5 “Email B of A” Web link by 11:59 p.m. Friday would get a response by this Wednesday.

The promise came about after a CBS 5 News story about homeowners’ frustrations with trying to get loan modifications. That report also cited a recent U. S. Department of Treasury report, saying that Bank of America had modified only 7 percent of loans eligible for modification under the government's Making Home Affordable Program.

More than 1,100 people sent in e-mail, about half of them by the Friday deadline.

We checked back with Frahm to see how well Bank of America delivered on its promise.

Frahm said so far bank representatives have contacted or attempted to contact more than 1,000 of those viewers.

"I think we made every attempt to reach those customers, and I think as you've heard and we've heard back, that they were very appreciative we reached them in the timeline we committed to," said Frahm.

Frahm said they were not able to reach some folks because the viewers didn’t provide a valid phone number. He said bank representatives were trying to track those people down and call them within the next few days.

Merlen and Linda Rollins, of Chandler, have been trying for months to get a loan modification. They saw last week’s CBS 5 News story and used the “Email B of A” Web link.

Rollins said she got a call this week from a representative, who worked for Bank of America’s vice president.

"They called, and I was in shock," said Linda Rollins.

Rollins says after several conversations, they are now expecting modification papers next month.

"We went from nothing to getting it done. You (CBS 5) got it done, because of your involvement," said Rollins.

Bank of America said hundreds more are now working with a specialist to try to hammer out a solution.

About a dozen folks contacted CBS 5 this week, saying that they're either still waiting or still frustrated. Many of them finally received a call on Thursday.

"I got a call back. But the woman who called just gave me her first name and telephone number that I found out was a non-working number at B of A," said Darnell Young, of Phoenix.

Bank of America acknowledged a need to do a better job helping struggling homeowners and giving them clear answers.

“We're dedicated to insuring that they get timely responses. We continue to add staff and take all the steps possible to be able to do that and live up to that commitment," said Frahm.

CBS 5 News is continuing to receive e-mail from viewers, asking us to forward information to Frahm’s office. We are continuing to pass that information along to him. We will be checking back in the coming weeks to see what kind of results people are getting.


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