Tuesday, May 8, 2012 - 6:37 AM

Bank Of America Starts Mortgage Reduction Effort

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.

KenBDG5,132 posts since
Nov 29, 2009
Rep Points: 116,925

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

Shorebreak1,275 posts since
Apr 6, 2010
Rep Points: 4,753

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!

lou351 posts since
Aug 3, 2010
Rep Points: 1,984