Tag: unpaid principal balance

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Bank of America Forgiving Second Mortgages

Bank of America Forgiving Second Mortgages BOA eliminates the full unpaid principal balance on some second mortgages. Bank of America recently announced that it will be forgiving 2nd mortgages, for some homeowners,  “under Bank of America’s participation in the 2012 national mortgage settlement.” We will be writing more about the 25 billion dollar National Mortgage […]

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News: FHA to Refinance “Underwater” Homeowners

FHA PRESS RELEASE FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS Effort designed to encourage principal write-downs for responsible borrowers WASHINGTON – In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment […]

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