Bank of America Mortgage fraud, Internet

A few reasons why people are being denied...

In some cases, the banks do not hold the mortgage. If the investors who are holding the mortgage decide that they would rather foreclose on the house, there isn't much that the banks can do.

Some applicants do not meet the eligibility requirements.

The program is voluntary. The banks are not required to approve every or even any applicants. If the bank feels that somebody is too much of a liability, they are free to foreclose.

I believe that BofA has approved somewhere between 160,000 and 200,000 people for this program. The others were rejected for one of the above reasons.

many of these 'programs' were only put into place to help a limited number of people, but the goal was to create the ILLUSION that these plans were going to help millions upon millions of people.