https://smartasset.com/mortgage/all-about-the-affordable-loan-solution-mortgage
From the link:
"The Affordable Loan Solution plan is the product of a collaboration between Bank of America, Freddie Mac and a credit union called the Self-Help Ventures Fund."
The Federal Home Loan Mortgage Corporation (FHLMC) also known as Freddie Mac, is a Government-Sponsored Enterprise (GSE) and a bastardization of Federal authority. Residential mortgage borrowing is by far the largest of the GSEs and hold about $5 trillion worth of mortgages.
The goal of the Democrats and other globalists when they stole the election of 2020 was to force red states to bail out blue states. This is just one more way of socialist government taking money from taxpayers and giving it to others, lining pockets along the way.
I foresee myself joining a class action suit against BOA, since I’ve been making mortgage payments to them for over a decade.
“How the Affordable Loan Solution Program Works
Once Bank of America creates an Affordable Loan Solution mortgage, the Self-Help Credit Union will purchase it and help protect borrowers from default. In the event of a default, the credit union will agree to cover a large percentage of the losses. That’s why there’s no need for private mortgage insurance. Finally, Freddie Mac buys the loan from Self-Help.”
Money laundering at its best.
Self help yourself at the public trough.