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Real Estate & Property Law

: The Home Equity Theft Reporter

BofA To Begin Cutting Loan Balances On Underwater Homes? Massachusetts AG "Arm-Twists" Lender Into Agreeing To Offer Debt-Reduction Workout Plan

By r morris

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The Wall Street Journal reports:Under pressure by Massachusetts prosecutors, Bank of America Corp. said Wednesday it would reduce mortgage-loan balances as much as 30% for thousands of troubled borrowers, in what could presage a wider government effort to encourage banks to offer debt reduction to ease the mortgage crisis.***The bank's move is part of an agreement to settle claims over certain

Full post as published by The Home Equity Theft Reporter on March 25, 2010 (boomark / email).

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