The banks are beginning to reduce principal on a Few loan modifications based on the recent settlement with the states. At this point, it appears that homeowners need to currently be in a modification process to be considered.
Read the attached article to see how B of A AT LEAST stopped one family from foreclosure recently.
What will be the guidelines for the these programs, who qualifies and who doesn’t?  Noone really knows how this will be handled so….  Stay Tuned!
Hopefully it just won’t be some more false promises!