Brian Garff's Blog – March 2010 Archive (1)
Bank of America to Reduce Mortgage Principal on Certain Loans
Reducing Principal will help Reduce Foreclosures
People who face losing their home in foreclosure often ask, "If the bank is going to lose all this money by selling my home at fair market value, why can't they re-work my loan at that same price? I could make
the payment if they would simply reduce my loan balance to fair market
value." In effect, that is exactly what Bank of America is proposing
to do.
Not all of the details are out, but…
ContinueAdded by Brian Garff on March 26, 2010 at 7:58am — No Comments
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