Bank of America Loan Modification - Five Steps to Approval by Lindsy Emery Does paying your high monthly mortgage payment cause you stress or make you worry? Have you been thinking that you could get a better deal, like a Bank of America loan modification period? The Bank of America is known nationwide as a lending bank that is currently offering renegotiations for some of its borrowers. There are things you can make it easier for the Bank of America to approve your application. If you meet certain requirements, you can have your mortgage payments reduced. Before beginning these negotiations, follow these five steps Giuseppe Zanotti.1. Read and learn what the Bank of America requires in order to approve a loan modification. In order to be approved, you need to have a certain amount of disposable income and a specific debt to income ratio.2. Get the paperwork in order. The bank officer will want to review all your documents ... Read more »