October 5, 2012 in Business

Bank of America plans mortgage help

From Staff And Wire Reports
 

Homeowners who have mortgages with Bank of America and are having trouble making their payments are invited to meet with representatives of the bank on Oct. 12 or 13 in Spokane.

Bank of America announced a “homeowner assistance event” that will take place at the Spokane Convention Center from 8 a.m. to 7 p.m. both days. Customers can get help with a loan modification or a short sale, according to Bank of America.

The bank is holding similar sessions nationwide.

A spokeswoman said Bank of America services nearly 380,000 customer loans in Washington, 11 percent of which are delinquent. The bank has modified more than 21,000 loans in the state in the last four years, she said.

Bank customers who are interested in attending should visit www.bankofamerica.com/ homeownerevent to register, or call 1-855-201-7426. The website also has a list of the documentation required. Parking is provided free on the south lot across from the INB Performing Arts Center; enter code 2012 at one of the lot kiosks, according to a news release.

Honda expands headlight recall

LOS ANGELES – Honda said it will expand a March headlight recall to include 820,000 model-year 2002-2003 Civic sedans and model-year 2004-2005 Pilot sport-utility vehicles in the United States.

Honda dealers will inspect and, if necessary, replace components of the headlight wiring system.

The automaker said a problem with the wiring of the headlight switch could cause the low-beam headlights to not work. The loss of headlights could limit a driver’s ability to see the road and potential hazards and increases the risk of a crash. Honda said no crashes or injuries have been reported in connection with the problem.

In March, Honda recalled 550,000 CR-V small SUVs from the 2002 through 2004 model years and Pilots from 2003 because of the same problem.

This was the second large expansion of a Honda recall in a week.

California gas rises to $4.32 a gallon

SAN FRANCISCO – Throughout California, the average price of a gallon of regular gasoline jumped 8 cents overnight to $4.32 and was up 18 cents during the past week, according to the AAA’s Daily Fuel Gauge.

Analysts said it was poised to quickly soar past $4.37 a gallon – the high so far this year – after refinery outages and pipeline problems left the state short on supplies.

The highest average price ever for regular gasoline in the state was $4.61 in 2008.

Among the recent disruptions, an Aug. 6 fire at a Chevron Corp. refinery in Richmond left one of the region’s largest refineries producing at a reduced capacity. A power failure in Southern California has affected an Exxon Mobil Corp. refinery, and a Chevron pipeline that moves crude to Northern California was also shut down.

Elsewhere, the national average for gas is $3.78 a gallon, the highest ever for this time of year. However, gas prices in many states have started moving lower, which is typical for October.

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