B of A Launches Principal-Reduction Process

08 May 2012

Bank of America has launched its program to reduce principals on mortgages by contacting some 200,000 borrowers by mail, inviting them to participate.

Bank of America has launched its program to reduce principals on mortgages by contacting some 200,000 borrowers by mail, inviting them to participate. To qualify for a reduction, homeowners must owe more on their property than the house is worth.

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