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Bank Of America Starts Mortgage Reduction Effort

Tuesday, May 8, 2012 - 6:37 AMBank of America
From the New York Times
Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average of $150,000 each.

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3
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Tuesday, May 8, 2012 - 8:13 AM
Easier said than done...

Bank of America Tells Family It Won't Forclose, Tries To Foreclose Anyway

http://consumerist.com/2012/05/bank-of-america-tells-family-it-wont-foreclose-tries-to-foreclose-anyway.html
3
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,212
2. Tuesday, May 8, 2012 - 2:12 PM
So let's see if I have this right: If you diligently always pay your mortgage on time no matter how hard that may be, you get nothing. But if you're a deadbeat, you can have your mortgage reduced by $150,000. What a great country!
5
loulou544 posts since
Aug 3, 2010
Rep Points: 3,397
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