It's not quite a check in the mail, but certain distressed mortgage borrowers at Bank of America Corp. will be happy they opened the letter anyhow.
Wednesday, May 9, 2012
BofA begins contacting distressed homeowners about principal cuts
As part of a foreclosure-abuse settlement, the bank has started notifying about 200,000 borrowers that they may qualify for reductions of as much as $100,000 on their mortgage balances.
It's not quite a check in the mail, but certain distressed mortgage borrowers at Bank of America Corp. will be happy they opened the letter anyhow.
It's not quite a check in the mail, but certain distressed mortgage borrowers at Bank of America Corp. will be happy they opened the letter anyhow.
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