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 Corporation Filed a Form 8-K
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  • Get Help With Your Underwater Bank of America Mortgage
    In order to reduce its share of penalties, Bank of America has revealed recently that it is willing to forgive the principal of many mortgages so that the borrowers will no longer be underwater. Some borrowers may qualify for reductions of $100,000 or more.
    03/29/2012 - 1:00 pm | View Link
  • 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 ...
    03/8/2012 - 3:48 pm | View Link
  • Bank's Home Loan Modification Reduces Principal
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  • How Bank of America's principal reduction plan will work
    If you have a loan directly from Bank of America or Countrywide and are 60 days or more ... this feature and forgive all or part of the negative amortization to reduce principal to as low as 95% loan to value (LTV). Also, pay option ARMs will be recast ...
    03/24/2010 - 5:00 am | View Link
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    Executives at Bank of America admit that, as they begin mailing 200,000 letters offering certain customers mortgage principal reduction. ... by CNBC shows a ...
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  • Bank of America Offers Principal Reductions to 200,000 ...
    Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction.
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  • BofA offers principal reduction
    Bank of America has agreed to provide mortgage relief, including partial loan forgiveness, ... Finance Blogs » Mortgages Blog » BofA offers principal reduction.
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