Bank of America Offers Huge Principal Reduction

14 June 2012 ~ 0 Comments

By Monica Spangler, Newark Office

Bank of America has approved a permanent modification through the Making Home Affordable program which not only brought the client’s interest rate down to 2%, it also forgave $212,665 in principal! The principal balance went from $708,883 down to $496,218 bringing the principal nearly down to value. This is a huge incentive for the client to keep the home and he is definitely a happy and satisfied client!

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