Today marks the first day of a Bank of America event intended to help Lowcountry homeowners avoid foreclosure.
The outreach event allows Bank of America mortgage customers to meet in-person with home loan specialist to discuss financial situations. The event is being held today through Thursday at Embassy Suites North Charleston at 5055 International Blvd.
Bank of America’s event comes on the heels of an April report that said the foreclosure rate is dropping in the Charleston region.
In the region, the rate of foreclosures among outstanding mortgage loans was 3.32 percent in February, down 0.82 percent compared to the same month in 2012 when the rate was 4.14 percent, according to real estate information firm CoreLogic.
The Charleston region’s foreclosure rate was higher than the nation’s 2.85 percent rate and South Carolina’s 2.98 rate for February, according to data.