Bank Of America To Reduce Principal For Up To 200,000 Homeowners

By Jim Puzzanghera, Los Angeles Times
Fri, 03/09/2012 - 10:08am

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.

Sections: news business living

Topics: bank of america banks foreclosure foreclosure settlement good news homeowner housing market mortgage real estate underwater mortgage

Real 'Fault in Our Stars' couple reunited by hope
Katie and Dalton Prager, a young couple who both have cystic fibrosis, celebrated happy news when they reunited Tuesday afternoon after nearly five months apart: Katie is on her way to getting a lifesaving lung transplant. More
US home sales rebound slightly in February
U.S. home sales picked up slightly in February but remain sluggish due to tight inventories, affordability problems and nasty winter weather. More
Vanilla Ice charged with burglary in Florida
Vanilla Ice has been charged with breaking into and stealing from an abandoned home that is in foreclosure in Florida. More
US home building is surging, but job growth isn't
The resurgent U.S. housing market has sent builders calling again for Richard Vap, who owns a drywall installation company. Vap would love to help - if he could hire enough qualified people. "There is a shortage of manpower," says Vap, owner of South Valley Drywall in Littleton, Colo. More
Unemployment falls to 7.5%; job creation solid in April
The job market plugged along steadily, and unemployment fell in April, according to new data out Friday, suggesting that the U.S. economy is still expanding. The nation added 165,000 jobs in April as the unemployment rate fell to 7.5 percent, from 7.6 percent in March, the Labor Department said on Friday. More

Place your ad here
Loading...

BING NEWS:

Pound Sterling rises in thin-trading week, BoE policy in focus
The Pound Sterling (GBP) is stuck in a tight range around 1.2550 against the US Dollar (USD) in Monday’s London session. The GBP/USD pair is expected to remain less volatile and will be guided by the ...
05/6/2024 - 3:27 am | View Link
8 Best Mortgage Lenders of May 2024
Here are the 8 best mortgage lenders of May 2024, including Rocket Mortgage, Bank of America and Lending Tree.
05/3/2024 - 4:54 am | View Link
alterBiota Closes $4 Million Seed Round anchored by Invest Nova Scotia & Business Development Bank of Canada (BDC)
Biota Inc. ("alterBiota" or the "Company") has successfully closed a $4-million seed financing round led by Invest Nova Scotia. Funds will be used for industrial product trials, engineering of a ...
05/2/2024 - 12:00 am | View Link
Fed announces reduction in balance sheet runoff pace
The Federal Reserve announced plans on Wednesday to slow the speed of its balance sheet drawdown to ensure this process does not create undue stress in financial markets.
05/1/2024 - 1:49 pm | View Link
Sorry, America, it's looking like higher interest rates are going to stick around longer
Still-elevated inflation and a job market that won't quit mean predictions for interest rate cuts in June are being pushed back.
04/29/2024 - 11:04 pm | View Link
More