Yesterday, a client who`s home we listed contacted me to tell us she received a letter from B of A.

Apparently, they sent her a letter indicating they`re willingness to help her "restructure her loan". She asked me for my opinion.

In all sincerity, Banks aren`t buying into President Obamas stimulus program of helping those who are trapped!

It`s easier to blame the middle class for this debacle, rather than the entire "Lending Institutions". Suddenly words like "Loan Modification" and "Short Sales" have become a "Four Letter Word"... 

I asked the client to stop by my office and  make the call from there.

The Conversation is as follows:

Client: Hello, I`m calling in regards to the letter that was sent to me in regards to saving my home!

B of A: Our policy is we`re here to help our clients. Let me take a look at your account.

Client: I can really use the assistance with our mortgage. I`m a single Mother with two children trying to save my home.

B of A: At BofA we don`t want you to lose you`re home either. We`re helping thousands of people like yourself everyday.

Client: I`m truly grateful for anything you can do to help us!

B of A: Humm, after reviewing your account, it seems you`re two months late on your mortgage. That's not too good. Also, you have alot of credit card debt. That's not good at all...

Client: Yes, I know, I`ve been steadily employed for 20 years now. If I can get some assistance on lowering my mortgage temporarily, than I`ll be alright. I`m looking for a second job as we speak.

B of A: Have you thought about finding a roomate?

Client: Excuse me? A Roomate? I`m calling you to see if we can adjust my mortgage payments per the letter you sent me and now you`re giving me advice on how to live my life!!??

B of A: Well we like to offer our clients advice in order to assist them. It`s part of our service.

Client: Are you joking me? You`re now telling me how to run my life and how to act? What kind of stimulus package is B ofA doing? This isn`t why i called you.

BofA: Were looking for alternative ideas to assisting our clients. Is there anything else we can do for you today?

With that the conversation ends. It actually really never took place. BofA has plenty of solutions in assisting those who seek help. Giving out tips on "How to live life" seems to be their idea of aiding clients and helping with the Stimulus program.

It`s great to know that lenders are so eager to give out ideas about "Saving one`s home" rather than doing what was intended to happen when President Obama was elected.

Amazing, how BofA took the time to send these letters to millions of people. I guess "Insulting" them is a better solution!

So much for Obama`s Stimulus program...