One of the lucky 200,000 B of A homeowners?
If your loan is owned by
Bank of America, you will want to keep an eye open for information that is just coming out. B of A intends to do some principal reductions for up to 200,000 homeowners! YAHOO!!
There seems to be some conflicting news on who the likely recipients might be. One source said it would be for current homeowners who were NOT behind on their mortgage payments. More articles said they were targeting homeowners who were at least 60 day late at the end of January 2012.
B of A is supposed to sent out notices beginning next month. Watch your mail.
If you make mortgage payments to B of A, I suggest you set up a Google alert on “Bank of America principal reduction 2012”, so you can read if you might get some relief.
Let me know what news you get?
Pat Chadwell, broker
Certified Distressed Property Expert
Realty World – Residential Specialists
San Jose, CA
408-927-6565 x 11 (direct)