09/20/2009 05:12 am ET | Updated May 25, 2011

While Debt Mounts, Couple Chases BofA Loan Modification

Bank of America is the biggest mortgage servicer in the business. And judging by Treasury Department data, its customers searching for loan modifications are the most frustrated. Through the end of July, it had modified just 4 percent [1] of its most delinquent loans eligible for the government's foreclosure-prevention program [ --roughly 28,000 out of the nearly 800,000 for which payments were at least 60 days late.

The saga of Ian and Megan Bearce of Glendale, Calif., puts a face to those numbers.

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