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.

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  • Distressed homeowners haven’t seen enough relief: group - New York Post
    ... on helping the most-troubled homeowners reduce principal payments on ... lenders like JPMorgan Chase, Citigroup and Bank of America have agreed ...
    08/29/2014 - 10:35 am | View Link
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  • Help underwater homeowners after Bank of America settlement
    As a city resident with a Bank of America mortgage who is facing foreclosure, this is a crisis that I know all too well. In Seattle, the Reset Seattle Coalition is pushing for a program to reduce principal on underwater homes in the city. Similar programs ...
    08/25/2014 - 10:25 am | View Link
  • Bank Of America’s $17 Billion Settlement Won’t Help As Many Homeowners As It Should
    Then there are the tax write-offs that are built into the settlement, which could further reduce ... Bank of America has chosen to offer big write-offs to relatively few homeowners with expensive mortgages, rather than give principal reductions to a ...
    08/23/2014 - 5:15 am | View Link
  • In Bank of America settlement, who’s feeling the pain?
    For instance, one of the basic ways Bank of America plans to help struggling homeowners is through principal write-downs. This simply means they’ll reduce the principal owed by the borrower on a mortgage. And that’s certainly needed for many struggling ...
    08/22/2014 - 9:15 am | View Link
  • Some homeowners could get hit with a whopping tax bill if they accept help through Bank of America’s settlement
    The Bank of America settlement includes a program that would reduce the size of the borrower’s mortgage so that the loan accounts for 75 percent of the value of the home, and the interest rate would be permanently set at 2 percent. Such "principal ...
    08/21/2014 - 7:49 am | 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 ...
    05/8/2012 - 10:02 pm | View Link
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  • Bank of America Provides $4.75 Billion in First Lien ...
    Bank of America has completed or approved more than $4.75 billion in principal reduction offers on first mortgages under terms of the National Mortgage ...
    09/1/2014 - 1:56 pm | View Website
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    09/1/2014 - 11:18 am | View Website
  • Bank of America — Banking, Credit Cards, Mortgages and ...
    Welcome to Bank of America, the nation's leading financial institution and home for all of your personal financial needs.
    09/1/2014 - 12:55 am | View Website
  • Home Loan Help from Bank of America
    Get the home loan help you need—now. If you're having trouble paying your mortgage, Bank of America offers home loan assistance solutions that can help you. Learn ...
    08/31/2014 - 9:42 pm | View Website
  • Hardest Hit Fund | Bank of America
    The Hardest Hit Fund was created to help homeowners in states affected by housing price declines and the recession. If you are having difficulty making your mortgage ...
    08/31/2014 - 11:55 am | View Website
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