Real estate blog entries tagged with home retention programs by Jona "The REO Man" from Kona (BOP)

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Home : Blogs : Jona "The REO Man" from Kona : Jona "The REO Man" from Kona's Blog : Tag "home retention programs"

home retention programs: Bank of America’s own bail-out plan for Countrywide customers in risky loans. - 10/06/08 10:42 PM

Bank of America's own bail-out plan for Countrywide customers in risky loans.
Bank of America announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for almost 400,000 Countrywide customers nationwide (125,000 of them in California).
With this plan, Bank of America is trying to create goodwill and also further distance itself from the lending practices that went on at Countrywide for the last few years. After initial promises of keeping Countrywide's management in place and letting them run the mortgage division of the … (0 comments)

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Jona "The REO Man" from Kona

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