New Principal Reduction Programs
Bank Of America just released new principal reduction prog..
Learn if you may qualify for a principal loan reduction without affecting your credit
Update on Department of Justice
The U.S. Department of Justice (DOJ) and the state attorneys general have agreed to the terms of a global settlement with the largest mortgage servicers, including Bank of America. This government agreement enhances our ongoing commitment to help homeowners who are struggling to make their mortgage payments by extending additional options.
Under the agreement, Bank of America:
- Is implementing a new modification program that offers principal reduction to qualified customers.
- Will work to lower interest rates to provide reduced payments for eligible homeowners who are current on their payments but owe more than the current value of their homes (mortgage must be owned by the bank).
- Will continue to help customers who are pursuing short sales and may offer additional assistance programs, such as deed in lieu of foreclosure and/or financial assistance to help those who are transitioning out of their properties.
Call me today for a free consultation and any help you may need to apply 619.651.0433