Bank of America Offering Principal Reductions to Upside Down Homeowners

By
Real Estate Agent with Keller Williams Realty Tampa Central

Bank of America (BoA) mortgageBank of America is stepping up to the plate to offer mortgage principal reductions to underwater home owners that are at least 60 days deliquent. Be on the lookout for a certified letter from BoA that will contain your principal reduction letter... if you lose it you can't do the modification. Borrowers of course have to meet certain criteria... read more

Comments (2)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

I wish they would help some of the owners who just want a refinance to lower rates.

May 09, 2012 01:04 AM
Michael Valdes
Keller Williams Realty Tampa Central - Tampa, FL
Born and Raised Tampa Florida Realtor

For a lower rate, homeowners should use the HARP program... there is no limit on how upside they are... no appraisal needed! Only catch is they have to be up to date on their payments.

May 09, 2012 01:17 AM