Bank of America to forgive up to 30% of the Principal for Home Owners in Trouble with their Mortgage

Real Estate Agent with Lucky Star Realty 01708681

I just read some good news today for Bank of America customers who have their mortgage with BofA and are having difficulty paying the mortgage.  

Below is a link to the article.

Bank of America said Wednesday that, 

" will forgive up to 30 percent of some customers' total mortgage balances. The homeowners must have missed at least two months of mortgage payments and owe at least 20 percent more than their home is currently worth."

This program will certainly help some homeowners keep their house and continue to make payments that they can afford.  

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