BofA offers 30,000 borrowers $4.75 billion in principal reductions

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BofA offers 30,000 borrowers $4.75 billion in principal reductions

Posted on14 November 2012.

I still wonder if this is permissible under the trusts and if there will be any ramifications?

Great for the homeowner.

HW-

Bank of America ($9.39 0.06%) approved 30,000 mortgage customers for principal reductions on first-lien mortgages with a total value of $4.75 billion as part of its consumer-relief mandate under the national mortgage servicing settlement program.

Bank of America executives participated on a teleconferenced update to the settlement.

They said that, through September, BofA completed or approved $15.8 billion in mortgage debt relief for 164,000 homeowners.

[HOUSING WIRE]

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One Response to “BofA offers 30,000 borrowers $4.75 billion in principal reductions”

JIMI says:

11/14/2012 at 6:24 pm

THIS IS A BIG LIE NO ONE SHULD BELIVE BANK OF AMERICA STORYS
THE ONLY THINGS THEY DO IS STEALING HOMES BY FRAUD CLAIMING TO BE A SERVICER FOR A TRUSTS THAT DO NOT EXIST ANYMORE ,THERE IS ZERO EVIDENCE TO SUGGEST THAT BOA REDUCE ANYONE MORTGAGE IN AMERICA.
WE KNOW BANK OF AMERICA LIES VERY WELL

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