Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.

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BING NEWS:
  • Bank of America to reduce principal balances on some home loans
    Bank of America announced Wednesday that it will begin offering the Holy Grail of mortgage modifications: principal loan reductions. The lender will make the offer to “underwater” borrowers who owe 120 percent or more of the home's market value or who ...
    07/31/2016 - 9:08 pm | View Link
  • Bank of America offers new loan modifications that reduce principal
    Bank of America is sending out letters to potentially thousands of struggling South Florida homeowners to let them know they may be eligible for a reduction in their loan balance that may save them up to 30 percent in monthly payments, the lender announced ...
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  • Bank of America begins mailing offers to reduce customers' mortgages
    The first step will be to reduce the principal owed to the current property value. The next step will be to reduce the interest rate. For more information on Bank of America's settlement programs, call 877-488-7814.
    05/8/2012 - 4:39 am | View Link
  • Bank of America to reduce principal for up to 200,000 homeowners
    Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers. BofA made the commitment as part of a ...
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  • Bank of America Reaches Deal on Housing
    Bank of America will provide deeper-than-anticipated principal reductions for about 200,000 homeowners ... Bank of America hopes it will be able to reduce what it owes in penalties under the settlement by up to $850 million. The $26 billion settlement ...
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