What the heck is a an “earned principal forgiveness”? Some Bank of America customers may soon be finding out. Bank of America Corp. (BAC.N) on Wednesday said it would offer about $3 billion in loan forgiveness to about 45,000 troubled mortgage holders who are under water more than 120 percent of the value of their [...]
Entries Tagged as 'mortgage modification'
Bank of America Announces New Mortgage Balance Reduction Program
March 25th, 2010 · 1 Comment · Mortgages
Tags: attorney general·bailout·bank of america·loan forgiveness·Making Homes Affordable·Mortgage·mortgage modification·mortgage principal·predatory lending
Is It Illegal if My Bank Won’t do a Loan Modification?
October 14th, 2009 · 3 Comments · Mortgages
Q. I am having great difficultly getting a loan modification on my mortgage. I am 100% confident that I meet the criteria for the loan modification program. After initially agreeing to do the modification, they now say I don’t meet the requirements and stopped taking my calls. Can I sue? My story: I followed the [...]
Tags: appraisal·assessor's office·building inspection·Fannie Mae·Freddie Mac·illegal·loan modification·Making Homes Affordable Program·mortgage modification·refinance
