by James Robert Deal | May 18, 2012 | Principal Reduction
The five biggest lenders – Bank of America, Chase, GMAC, Citi, and Wells Fargo – have $25 billion to use giving principal reductions. If your property is worth less than what you owe on your first mortgage and if you have had a hardship, you may qualify....
by James Robert Deal | May 8, 2012 | Principal Reduction
Iceland forgives mortgage debt to save its economy by J. D. Heyes (NaturalNews) It’s probably not a concept that most U.S. banks and lawmakers want to think about, but the fact is, Iceland’s economy has grown by leaps and bounds since the government there...
by James Robert Deal | May 8, 2012 | Principal Reduction
HUD secretary says some homeowners received $100K+ in principal reductions By Justin T. Hilley May 8, 2012 • 12:12pm Some families living in the most deeply underwater states such as Nevada and California are receiving principal reductions exceeding $100,000 from the...
by James Robert Deal | Jul 3, 2011 | Principal Reduction
As millions of Americans struggle in foreclosure with little hope of relief, big banks are going to borrowers who are not even in default and cutting their debt or easing the mortgage terms, sometimes with no questions asked. Click here to read more.
by James Robert Deal | Jun 24, 2010 | Foreclosure, Mortgage Modification, Principal Reduction
Read the Hamp Handbook here. It will answer a lot of questions. Lenders may but are not required to reduce principal balances in a modification down to 115% of the principal balance owing. Lenders may not foreclose on a borrower who is in the process of modification...
